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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 High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or give you unreal interest rates.
What these websites actually do is take money from new customers and use that money to pay off old users. This method makes a lot of buzz around the website which seems to be legit and solvent.
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This is how a Ponzi scheme works. This can go on for around 3-4 months until one day that the site will only go offline and the money is going to be gone. No more payments will be produced and a great deal of people may get angry that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site 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 individuals trying to steal your coins. .
How can you find out whether a website is a scam to get yourself Easy, use 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 in the existing Bitcoin. Every person who held Bitcoin prior to 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 process 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 .
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 maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and take a commission but that could 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 other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
For instance, Byteball official website was distributed publicly to Bitcoin users depending on the amount her response of Bitcoins they owned.
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To conclude, forks and airdrops could possibly be the maximum value for time method you can use to create money from your Bitcoins but they can be SUPER risky. I'd advise you to use these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others require a larger amount of work.
In order to make it easier for you to review what weve only covered we created a table that illustrates the different methods (you can see at the top of this post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a lot of creative strategies to create new income flows. .
You might still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your experience with it love to hear additional info it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from another continent to purchase a pizza for you with Bitcoins, now you can certainly do something similar to this in a number of important cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services available for those who are willing to pay with BTC.