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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 probably cost less. The other hassles of electricity 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. When this sounds ideal, the majority of the cloud mining websites nowadays are just pretending to use your money for mining operations, they are in fact scams.
What's more, while there are a few legit sites on the market, the money youd cover 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 remarkably common way of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. As such loans are ultra insecure the interest rates are high which initially seems like a fantastic thing. .
Well, since there is no true collateral that retains the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or provide 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 lot of buzz around the website which is apparently legit and solvent.
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On top of this, 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 works. This can go on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be produced and a lot of people will get angry that they got scammed.
We have reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website that we can say is  safe 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 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 before the fork can now claim the new coin too.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is try this site standard but requires an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.
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Keep 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 users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you personally 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 out of thin air. Airdrops are usually 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 apply.
For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the visit maximum value for some time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.