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Mining altcoins (e.g. Ethereum mining) is more affordable 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 essentially exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a couple of legit sites out there, 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 study since in the end, its own money.
A very common way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. As such loans are ultra risky the interest rates are pretty high which initially seems like a fantastic thing. .
Well, since there is no actual 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 several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to 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 give you unreal interest rates.
These sites really do is take money from new customers and use that money to pay off older users. This process creates a lot 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 app 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 the website will just go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a website which we can say is  safe to invest in. Any website that guarantees 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 acquire a fair assumption about a websites validity.
Starting around click this link 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 too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. his comment is here The process for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of the way 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 could end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you and take a commission but this may easily turn into a scam which 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 has a market.
Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can employ.
For 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 value for some time method you can use to make money from your Bitcoins however they can be SUPER risky. important link I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.