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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. Another hassles of electricity expenses, configurations, maintenance and so on are basically exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in fact scams.
What's more, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.
A very common way of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. As these loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there's absolutely no true collateral that retains the borrower liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 couple of days or give you unreal interest rates.
What these websites really do is take money from new users and use that money to pay off older users. This method creates a lot of buzz around the website which seems to be legit and solvent.
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On top of this, they nearly always have some kind read here of referral app so that users can bring their friends on board.
This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the site will just go offline and the money is going to be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We have reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website which we can state is  safe to invest in. Any website that promises you something that is too good to be true is likely just 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, use our Bitcoin scam evaluation tool to get a reasonable assumption about a sites validity.
Starting around August 2017 Bitcoin have a peek at these guys began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.
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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 many non technical customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and have a commission but this could easily turn into a scam which runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.
By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the maximum value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after ample research and a good understanding of the claiming process.