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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 cost less. Another hassles of power expenses, 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 ideal, the majority of the cloud mining websites today are just pretending to use your money for mining operations, they are in 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 research since in the end, its your money.
A remarkably common way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. Because such loans are ultra insecure the interest rates are high that initially seems like a fantastic thing. .
Well, since there's absolutely no actual collateral which holds the debtor liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or give 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 creates a lot of buzz around the website which seems to be legit and solvent.
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On top of that, 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 can go on for around 3-4 months until click here to find out more one day that the site will just go offline and the money will be gone. No longer payments will be produced and a great deal of people may get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site that we can state is  secure to invest in. Any website that guarantees you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .
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How can you find out whether a website 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of how Bitcoin works. You can see our fork claiming guide here.
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Keep in mind that if youre not you could try these out sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for many non technical users it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but this could 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 other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can apply.
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 some time method you can use to create money from the Bitcoins however 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.