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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 probably cost less. The other hassles of electricity 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. When this sounds ideal, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they're in fact scams.
What's more, while there are a few legit sites out there, 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 study since in the end, its your money.
A remarkably popular way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest rate. As such loans are ultra risky the interest rates are high that initially seems like a good thing. .
Well, since there's absolutely no actual collateral which retains the borrower liable for your loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out several loans here 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 High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every couple of days or give 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 creates a great deal of buzz around the website which is apparently untrue 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 the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No more payments will be produced and a great deal of people may get mad that they have 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 only a facade for scammers 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 evaluation tool to acquire a fair assumption about a sites validity.
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 prior to the fork can now also claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how her latest blog 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 could end up losing your Bitcoins. So for many non technical users it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you and have a commission but that could easily turn into a scam which runs off with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense which you get coins out of thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
By way of instance, 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 web link to utilize these approaches only after considerable research and a fantastic understanding of the claiming process.