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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 the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining sites today 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 on the market, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its your money.
A very 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 to get an interest rate. Because these loans are ultra risky the interest rates are pretty high that initially seems like a good thing. .
Well, since there is no true 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 many loans 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 few days or give you unreal interest prices.
These websites actually do is take money from new users and use that money to pay off older users. This process creates a great deal of buzz around the website which is apparently untrue and solvent.
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On top of this, they that site nearly always have some kind of referral app so that users can bring their friends on board.
This is how a Ponzi scheme functions. This will go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No more payments will be produced and a lot of people may get angry that they got scammed.
We've reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can say is  secure to invest in. Any site that guarantees 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 to get yourself Easy, utilize our Bitcoin scam evaluation tool to get 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard however demands 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 might end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim 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 has a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are usually used Your Domain Name to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations 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 maximum significance of some time method you can use to create money from the Bitcoins however they can be SUPER insecure. I would recommend that you use these methods only after ample research and a fantastic understanding of the claiming process.