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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. Another hassles of power costs, 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 ideal, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in scams.
What's more, while there are a couple of legit sites on the market, the money youd pay 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 own money.
A remarkably common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. As such loans are ultra insecure the interest rates are high that initially looks like a fantastic thing. .
Well, since there's absolutely no true collateral which retains the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or give you unreal interest rates.
What these sites actually do is take money from new users and use that money to pay off old users. This method makes a great deal of buzz around the website which is apparently untrue and solvent.
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On top of that, 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 that the website will only go offline and the money will be gone. No longer payments will be made and a lot of people may get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site which we can say is  secure to invest in. Any website that promises you something that is too good to be true is probably only a facade for individuals trying to steal your coins. .
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How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair assumption about a sites 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 before the fork can now also claim the new coin too.
The first popular branch was check my site Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins these details (aka forkcoins) is standard however demands an above fundamental understanding of how Bitcoin works. You can view 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 many non technical customers it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and take a commission but this may easily turn into a scam which runs away with you money. .
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Once you maintained 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 out of thin air. Airdrops are often 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 could possibly be the highest significance of time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would recommend that you utilize these methods only after considerable research and a anonymous good understanding of the claiming process.