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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. The other hassles of power costs, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, the majority 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 couple of 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 study since in the end, its own money.
A remarkably common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. As such loans are ultra risky the interest rates are pretty high that initially looks like a good thing. .
Well, since there is no true collateral which holds the borrower liable for the 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 eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or give you unreal interest rates.
What these websites really do is take money from new users and use that money to pay off older users. This process makes a lot 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 kind of referral program so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the website visit this page will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get mad that they got 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  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 if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites 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 before 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 more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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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 maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but that could easily turn into a scam which runs away click this site 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's a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
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 time method you can use to make money from your Bitcoins but they can be SUPER risky. I would advise you to use these methods only after ample research and a good understanding of the More about the author claiming process.