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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or give you unreal interest rates.
What these websites really 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 site that is apparently legit and solvent.
On top of that, they almost always have some type of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme functions. This can go on for around 3-4 months until one day the site will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get angry that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which we can say is safe to invest in. Any website that promises you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
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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 too.
The first popular branch 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 basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
Keep in mind that if youre not sure what youre doing when address claiming a forkcoin you could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you and take a commission but that 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 alternative 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 cases some conditions can apply.
For example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and airdrops could possibly be the maximum significance of some time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd advise you to utilize these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its pros and cons, some are more risky while others take a larger amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table which illustrates the different methods (you can view on peak of this post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to create new income flows. .
You may still have some questions. If this is the case, just leave them in the comment section below. And when youve tried out one of the methods above and want to share your experience with it love to hear it also.
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Each and every day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you had to write a person from another continent to order a pizza for you with Bitcoins, now you can do something like this in a number of important cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services offered for people who are willing to pay with BTC.