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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. The other 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 websites nowadays are just pretending to use your money for mining operations, they are in fact scams.
Furthermore, while there are a few legit sites out there, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.
A very common 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. As these loans are ultra insecure the interest rates are pretty high that initially seems like a fantastic thing. .
Well, since there is no true 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 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 couple of days or give you unreal interest prices.
These websites really do is take money from new users and use that money to pay off old users. This method creates a great deal 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 sort of referral program so that users can bring their friends on board.
This is how a Ponzi scheme works. This can go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be produced and a lot of people may get angry that they got scammed.
We've reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is  safe to invest in. Any website that promises you something that's too good to be true is likely just a facade for scammers trying you could try this out to steal your coins. .
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How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable assumption about a sites legitimacy.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.
The first popular branch 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 view our fork claiming guide .
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Keep 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 keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and have a commission but this may 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's a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain 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 some time method you can use to make money from your Bitcoins however they can be SUPER risky. I would recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.