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Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest rates.
These websites really do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be legit and solvent.
On top of that, they nearly always have some type of referral program so that users can bring their friends on board.
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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 only go offline and the money will be gone. No longer payments will be made and a lot of people will get angry that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is safe to invest in. Any site that guarantees you something that's too good to be true is likely just a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a websites 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 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 process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.
Keep in mind that if youre not sure what youre doing when 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 keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but that could easily turn into a scam that runs off with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations 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 highest value for time method you can use to make money from look at more info your Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these methods only after ample research and a good understanding of the claiming process.
Weve covered a lot 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 require a larger amount of work.
In order to make it much easier for you to review what weve just covered we created a table that illustrates the different approaches (you can view at the top of this post). As you can see theres no simple, risk free way to generate money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a lot of creative strategies to create new income streams. .
You may still have some questions. If so, just leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your own experience with it love to hear it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to compose a person from another continent to purchase 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 known as the Bitcoin town ) now with a range of services offered for people who are willing to pay with BTC.