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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 cost less. The other hassles of power costs, configurations, maintenance and so on are basically 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 today are just pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of legit sites out there, the money youd cover 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 own money.
A very common way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. As these loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .
Well, since there is no actual 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 at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest prices.
These sites really 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 site that is apparently untrue and solvent.
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On top of this, they almost 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 that 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 mad 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 state is  secure to invest in. Any site that promises 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 site is a scam to get 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to 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 standard but demands an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide here.
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Bear 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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and have a commission but this may easily turn into a scam that runs away with go to website you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops blog here are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the 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 may be the highest significance of time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would advise you to use these approaches only after considerable research and a fantastic understanding of the claiming process.