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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. Another hassles of electricity expenses, 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. When this sounds ideal, most of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a few legit sites on the market, the money youd pay 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 very common way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. As such loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .
Well, since there is no true 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 steer clear of 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 couple of days or provide you unreal interest rates.
These sites actually do is take money from about his new customers and use that money to pay off older users. This method creates a lot of buzz navigate here around the site that seems to be legit and solvent.
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On top of that, they almost always have some kind of referral program so that users 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 that the website will only go offline and the money is going to be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a site which we can state is  safe to invest in. Any site that promises you something that's too good to be true is likely 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, use our Bitcoin scam test 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 emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. why not try here The process for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many 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 and have 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 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 some situations some conditions can employ.
By way of example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest significance of time method you can use to create money from the Bitcoins but they can be SUPER insecure. I would advise you to utilize these methods only after considerable research and a good understanding of the claiming process.