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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. Another hassles of electricity costs, 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 websites today are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its own money.
A very common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest rate. Because such loans are ultra insecure the interest rates are high which initially looks like a fantastic thing. .
Well, since there is no true collateral that holds the borrower 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 eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or provide you unreal interest prices.
These websites really do is take money from new users and use that money to pay off old users. This method makes a lot of buzz around the website which 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 the way a Ponzi scheme functions. This can go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be made and a great deal of people may get mad that they got scammed.
We've reviewed several Bitcoin investment websites in the previous 3 look at here now decades and have yet to find a site that we can state is  safe to invest in. Any website that promises you something that's too good to be true is likely only 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, use our Bitcoin scam evaluation 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 from 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 much more. The process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can view 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 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 may easily turn into a scam which runs away with you money. .
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Once you claimed try here 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 which 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 general public, although in certain cases some conditions can employ.
For example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the highest value for some time method you can use to make money from the Bitcoins but 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.