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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 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. While this sounds perfect, most of the cloud mining websites today are just pretending to use your money for mining operations, they're in scams.
What's more, while there are a few legit sites on the market, the money youd pay 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 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 insecure the interest rates are high which initially looks like a good thing. .
Well, since there is no true collateral that retains the debtor liable for your loan more often than not these loans default and lenders are left 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 it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of 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 creates a great deal of buzz around the website which seems to be untrue and solvent.
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On top of this, they almost always have some sort of referral program so that consumers 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 only go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they have scammed.
We have reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is  safe to invest in. Any site that guarantees you something that's 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 if a website is a discover this scam to get yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new find out 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 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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and have a commission but this could 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's a market.
Airdrops are similar to 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 instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks click here for more info and airdrops may be the highest value for time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a good understanding of the claiming process.