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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. Another hassles of electricity costs, configurations, maintenance and so on are essentially the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of legit sites on the market, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market study since in the end, its your money.
A very common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral that retains the borrower liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or provide you unreal interest rates.
What these sites actually do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the site that is apparently untrue and solvent.
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On top of this, they almost always have some kind of referral app so that consumers can bring their friends on board.
This is how a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people will get mad that they have scammed.
We have reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site which we can state is  secure to invest in. Any website that promises you something that's too good to be true is likely only a facade for scammers trying to steal your coins. .
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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair assumption about a websites 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 also 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 however requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam which runs away with you money. .
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Once you maintained a forkcoin redirected here you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from 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 employ.
For example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest significance of time method you can use to create money from your Bitcoins however they can be SUPER risky. I would advise you to utilize these approaches only after considerable research and a fantastic understanding of the claiming process.