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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. The other hassles of electricity expenses, 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 sites nowadays are just pretending to use your money for mining operations, they're in fact scams.
What's more, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is likely 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 remarkably popular way of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. Because such loans are ultra risky the interest rates are high that 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 abandoned without their money.
Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method it is wise to 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 sites really do is take money from new customers and use that money to pay off older users. This process makes a lot of buzz around the site that is apparently legit and solvent.
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On top of this, they almost always have some sort of referral app so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No longer payments will be made and a lot of people may get angry that they got scammed.
We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a site that we can say is  secure to invest in. Any site that promises you something that's too good to be true is likely just a facade for individuals trying to steal your coins. .
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How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a websites legitimacy.
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 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 but requires an above fundamental 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 might end up losing your Bitcoins. So for most non technical see post users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a my blog commission but this could easily turn into a scam that runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
By way of instance, 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 make money from the Bitcoins however they can be SUPER insecure. I would advise you to utilize these approaches only after considerable research and a good understanding of the claiming process.