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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 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 promise to double your coins every few days or provide you unreal interest prices.
These sites really do is take money from new users and use that money to pay off old users. This process makes a lot of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some sort of referral program so that consumers can bring their friends on board.
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This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the website will only go offline and the money will be gone. No longer payments will be produced and a great deal of people may get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a site which we can state is safe to invest in. Any site that guarantees 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 site is a scam for yourself Easy, utilize 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 originates from 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 much more. The process for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of the way Bitcoin works. You can see 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 users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert 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 claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can apply.
For instance, 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 some time method you can use to create money from your Bitcoins but they can be SUPER risky. I'd advise you to use these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are more risky while others require a larger amount of effort.
In order to make it easier for you to review what weve only covered we created a table which illustrates the different methods (you can view on top of the post). As you can see theres no easy, 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 Extra resources a lot of creative ways to create new income streams. .
You may still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your own experience with it Id love to hear it as well.
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Every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from the other continent to order a pizza for you with Bitcoins, now you can certainly do something similar to this in a number of major cities. In some countries like 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.