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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. The other hassles of power costs, configurations, maintenance and so on are basically exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they're in fact scams.
Furthermore, while there are a few legit sites out there, the money youd pay 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 very common 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. As these loans are ultra risky the interest rates are pretty high which initially looks like a fantastic thing. .
Well, since there is no actual collateral that 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 eventually defaulted. Thats why I recommend to steer clear of 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 promise to double your coins every few days or provide you unreal interest rates.
These sites actually do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be legit and solvent.
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On top of that, they nearly always have some kind of referral app so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the website will just go offline and the money will be gone. No longer payments will be produced and a great deal of people may get angry that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a site that we can state is  safe to invest in. Any website that promises you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a sites 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 prior to 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 procedure for claiming forked coins (aka forkcoins) is standard but requires an above fundamental 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 might 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 assert the coins for you personally and have a commission but this may easily turn into a scam that runs off find out here 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 from thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can employ.
For example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the maximum significance of some time method you can use to make money from your Bitcoins but they can be SUPER risky. I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.