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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 basically 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 websites today are simply pretending to use your money for mining operations, they are in scams.
What's more, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market study since in the end, its your money.
A very common method of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral that holds the debtor liable for your loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest rates.
What these websites actually do is take money from new customers and use that money to pay off old users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
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On top of this, they nearly always have some kind of referral app so that users can bring their friends on board.
This is how a Ponzi scheme works. This will 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 produced and a great deal of people will get mad that they have scammed.
We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site that we can state is  secure to invest in. Any website that promises you something that is too good to be true is probably just a facade for individuals trying to steal your coins. .
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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a websites 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 before 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 much more. The process for claiming forked coins (aka forkcoins) is standard however demands an above fundamental 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 most non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but this may 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 other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins out of additional resources thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency helpful resources is distributed freely to the public, although in certain cases some conditions can employ.
By way of instance, 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 some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I would recommend that you use these approaches only after considerable research and a good understanding of the claiming process.