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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. 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. When this sounds ideal, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in fact scams.
Furthermore, while there are a couple of legit sites on the market, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its own money.
A remarkably common method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. As these loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .
Well, since there is no actual collateral which holds the debtor liable for the 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 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 that claim to double your coins every couple of days or give you unreal interest prices.
What these websites Extra resources really do is take money from new users and use that money to pay off older users. This method makes a lot of buzz around the site that is apparently legit and solvent.
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On top of this, they almost always have some sort of referral program so that users can bring their friends on this hyperlink board.
This is how a link Ponzi scheme functions. This will go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No longer 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 past 3 years and have yet to find a website that we can say is  secure 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 if a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
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 before the fork can now claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard however demands an above fundamental 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 might end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and keep 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 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 other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense which you get coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.
For 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 significance of some time method you can use to create money from your Bitcoins but they can be SUPER risky. I'd recommend that you utilize these approaches only after ample research and a good understanding of the claiming process.