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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 power 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 ideal, most of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they're in scams.
What's more, while there are a couple of legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its your money.
A remarkably popular 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 fee. Because such loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there's absolutely no true collateral which holds the debtor liable for your 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 all 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 websites 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 users and use that money to pay off old users. This method creates a lot of buzz around the website which is apparently legit and solvent.
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On top of that, they nearly always have some kind of referral program so that users 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 site will just go offline and the money will be gone. No more payments will be made and a lot of people will get angry that they have scammed.
We've reviewed several 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 site that guarantees you something that's 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, use our Bitcoin scam evaluation tool to get 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 emerges in the existing Bitcoin. Every person who held Bitcoin before 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 procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how 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 could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you and have a commission but this may easily turn into a scam which runs away with you money. .
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Once you claimed a forkcoin you her comment is here can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's 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 in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.
By way of example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest value for some time method you can use to make money from the Bitcoins but they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a fantastic understanding of the claiming process.