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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. The other hassles of electricity expenses, 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 perfect, most of the cloud mining sites today are simply pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is probably 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 remarkably common method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. Because these loans are ultra insecure the interest rates are high which initially seems like a fantastic thing. .
Well, since there's absolutely no actual collateral that retains the debtor liable for your loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans here at 99Bitcoins, and they 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 promise to double your coins every couple of days or give you unreal interest rates.
What these sites actually do is take money from new customers and use that money to pay off older users. This method makes a great deal of buzz around the website which is apparently untrue and solvent.
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On top of this, they nearly always have some kind 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 will be gone. No more payments will be produced and a great deal of people may get angry that they have scammed.
We've reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website that we can state is  secure to invest in. Any site that guarantees 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 site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a fair assumption about a sites legitimacy.
Starting around August 2017 useful site 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 also 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 however demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide .
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but this could easily turn into a scam that runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some 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 and airdrops may be the maximum value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would recommend that you utilize these methods only after ample research and a fantastic understanding of the claiming process.