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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 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 perfect, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in 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. 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 riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. Because these loans are ultra risky the interest rates are high that initially seems like a good thing. .
Well, since there is no actual collateral which retains the debtor liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest rates.
What these websites really do is take money from new customers and use that money to pay off old users. This method creates address a great deal of buzz around the site that is apparently legit and solvent.
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On top of that, they nearly always have some sort of referral program so that consumers can bring their friends on board.
This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the site will just go offline and the money is going to be gone. No longer payments will be produced and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website which we can say is  secure to invest in. Any website that guarantees you something that's too good to be true is probably only a facade for scammers trying to steal great post to read your coins. .
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How can you find out whether a website is a scam for yourself Easy, utilize our Bitcoin scam test 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 in 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 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 could end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and take a commission but that may easily turn into a scam which 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 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.
For example, Byteball was distributed publicly to Bitcoin users depending on the amount of find Bitcoins they owned.
To conclude, forks and airdrops may be the maximum value for time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would advise you to utilize these methods only after ample research and a fantastic understanding of the claiming process.