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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. Another 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 perfect, most of the cloud mining sites nowadays 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 out there, 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 study since in the end, its your money.
A remarkably common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. As such loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .
Well, since there's absolutely no true collateral which holds the debtor liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several loans here 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 High Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every couple of days or provide you unreal interest prices.
These websites actually do is take money from new customers and use that money to pay off old users. This process makes a great deal of buzz around the website which is apparently legit and solvent.
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On top of this, they nearly always have some sort of referral app so that users 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 the website will only go offline and the money is going to be gone. No more payments will be made and a great click here now deal of people may get angry that they have scammed.
We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is  secure to invest in. Any site that promises you something that's too good to be true is likely just a facade for individuals 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 test tool to acquire a fair assumption about a sites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin before 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 more. The process for claiming forked coins (aka forkcoins) is standard you could look here however requires an above fundamental understanding of how Bitcoin works. You can see 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 maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and take a commission but this could easily turn into a scam that runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other 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 cases some conditions can employ.
By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the highest significance of some time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a fantastic understanding of the claiming process.