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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of power expenses, configurations, maintenance and so on are essentially exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its your money.
A very popular method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra insecure the interest rates are high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral which holds the debtor liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest prices.
What these websites actually do is take money from new users and use that money to pay off older users. This method makes a great deal of buzz around the website which seems to be legit and solvent.
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On top of that, they nearly always have some sort of referral app so that consumers can bring their friends on board.
This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will only go offline and the money is going to be gone. No longer payments will be made and a great deal of people may get angry that they got scammed.
We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site that we can state is  secure to invest in. Any site that guarantees you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
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How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and take a commission but that could easily turn into a scam which runs away with you money. .
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Once you maintained a forkcoin you can sell click for more it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can apply.
By way of example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum significance of time method you can use to create money from the Bitcoins however they can be SUPER risky. I'd advise you to use these methods only after ample research and a fantastic understanding of the claiming process.