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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of power expenses, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, most 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 couple of legit sites out there, 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 very popular method of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are high which initially seems like a good thing. .
Well, since there's absolutely no actual collateral that retains the borrower liable for the loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest prices.
These sites actually do is take money from new customers and use that money to pay off older users. This method makes a great deal of buzz around the site that is apparently untrue and solvent.
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On top of this, they almost always have some kind of referral app so that users can bring their friends on board.
This is how a Ponzi scheme functions. This will go click reference on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be produced and a lot of people may get angry that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which 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 scammers trying to steal your coins. .
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How can you find out if a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and address much more. The process for claiming forked coins (aka forkcoins) is click over here standard but requires an above fundamental understanding of the way Bitcoin works. You can see 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 which assert the coins for you personally and have 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 other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
By way of example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum significance of time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd advise you to use these approaches only after ample research and a good understanding of the claiming process.