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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 higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or provide you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off old users. This method makes a great deal of buzz around the site that 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 website will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people will get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is safe to invest in. Any website that promises you something that is too good to be true is probably just 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 acquire 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 also 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 however requires an above basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
Bear in mind that if youre not sure what youre doing when claiming a forkcoin you i loved this might end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and have a commission but this could easily turn into a scam which runs away 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's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.
For example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and airdrops may be the maximum significance of some time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would advise you to use these methods only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways in which 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 require 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 that illustrates the different methods (you can see on top of this post). As you can see theres no easy, risk free way to generate money with Bitcoin. The good 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 may still have any questions. If so, simply leave them in the comment section below. And when youve tried out one of these methods above and want to discuss your experience with it Id love to hear it as well.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from the other continent to purchase a pizza for you with Bitcoins, now you can certainly do something similar to this in a number of major cities. In some countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin city) now with a range of services available for those that are willing to pay with BTC.