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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. Another hassles of power expenses, configurations, maintenance and so on are essentially exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, the majority of the cloud mining sites 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 on the market, 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 your money.
A remarkably popular method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra risky the interest rates are pretty high which initially seems like a good thing. .
Well, since there's absolutely no true collateral that holds the borrower liable for your loan more often than not these loans default and lenders are left without their money.
Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific 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 rates.
These sites really do is take money from new users 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 program so that users can bring their friends on board.
This is the way a Ponzi scheme works. This will 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 may get angry that they got scammed.
We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a site that we can say is  safe to invest in. Any site that promises you something that is 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 for yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a sites legitimacy.
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 might end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and maintain 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 away 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 that 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 public, although in certain cases some conditions Find Out More 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 maximum significance of time method you can use to make money from the Bitcoins but they can be SUPER risky. I'd advise you to use these approaches only after ample research and a good understanding of the claiming process.