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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 cost less. Another hassles of electricity costs, 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. While this sounds perfect, the majority of the cloud mining sites today are simply pretending to use your money for mining operations, they're in fact scams.
What's more, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its own money.
A very common method of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. As these loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral which holds the borrower liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several 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 that claim to double your coins every couple of days or give you unreal interest prices.
What these websites actually do is take money from new customers and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be untrue and solvent.
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On top of that, they nearly always have some kind of referral app so that users can bring their friends on board.
This is the way a Ponzi scheme functions. This can go on for around 3-4 months until one day that the site will only go offline and the money is going to be gone. No longer payments will be produced and a great deal of people may get angry that they have scammed.
We've reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site that we can say is  safe to invest in. Any site that promises you something that is 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 website is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a fair 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 from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
The first popular fork 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 basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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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 many non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but this could easily turn into a scam that runs away with you money. .
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Once you claimed a forkcoin you see this can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word about 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 publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum value for some time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a good understanding of the claiming process.