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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 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. While this sounds ideal, most of the cloud mining websites today are simply pretending to use your money for mining operations, they're in fact scams.
What's more, while there are a couple of 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 research since in the end, its own money.
A remarkably common method of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest rate. Because such loans are ultra risky the interest rates are pretty high that initially seems like a good thing. .
Well, since there is no true collateral that holds the borrower liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from 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 few days or give you unreal interest prices.
What these websites really do is take money from new users and use that money to pay off old users. This method makes a great deal of buzz around the site that is apparently legit and solvent.
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On top of that, they almost always have some kind of referral app so that consumers can bring their friends on board.
This is the way a Ponzi scheme functions. 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 more payments will be made and a lot of people may get mad that they got scammed.
We've reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website that we can say is  safe to invest in. Any website that promises you something that's too good to be true is probably only a facade for scammers trying to steal your coins. .
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How can you find out whether a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation find more information tool to get 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 from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
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 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 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 personally and have a commission but this could easily turn into a scam that runs away 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's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. visit this website Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can employ.
By way of instance, Byteball you can check here was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the highest value for time method you can use to create money from the Bitcoins however they can be SUPER risky. I would recommend that you utilize these methods only after ample research and a fantastic understanding of the claiming process.