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Mining altcoins (e.g. Ethereum mining) is cheaper 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 essentially exactly 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 today are simply pretending to use your money for mining operations, they're in fact scams.
Furthermore, while there are a couple of legit sites on the market, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.
A very 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 rate. As these loans are ultra insecure the interest rates are high that initially seems like a fantastic 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 left without their money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of 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 process creates a great deal of directory buzz around the site that seems to be legit and solvent.
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On click site 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 works. This can go on for around 3-4 months until one day that the website will just go offline and the money is going to be gone. No longer payments will be made and a lot of people will get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a website which we can state is  secure to invest in. Any site that guarantees you something that is 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, use our Bitcoin scam evaluation tool to acquire a reasonable 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 from 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 much click here for more more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
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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 many non technical customers it'd better to pass on a fork and keep your Bitcoins safe. 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 certain situations some conditions can employ.
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 value for time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd advise you to utilize these approaches only after considerable research and a good understanding of the claiming process.