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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 electricity expenses, 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, most of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in scams.
What's more, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its your money.
A remarkably common way of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. As these 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 that holds the debtor liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out many loans here 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 higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest rates.
These websites actually do is take money from new customers and use that money to pay off older users. This process creates a lot of buzz around the site that seems to be legit and solvent.
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On top of that, they almost always have some sort of referral app so that users can bring their friends on board.
This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be produced and a great see this here deal of people may get mad that they got scammed.
We've reviewed many Bitcoin investment websites in the past 3 years and have yet to find a website that we can state is  safe to invest in. Any site that guarantees 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 site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites validity.
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 claim the new coin as well.
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 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 might end up losing your Bitcoins. So for most non technical customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this may easily turn into a scam that runs away with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can apply.
For instance, 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 some time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd advise you to use these approaches only after considerable research and a good understanding of the claiming process.