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Weve tested out many 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 sites which claim to double your coins every few days or give you unreal interest prices.
These sites really 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 site that is apparently legit and solvent.
On top of this, they almost always have some type 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 can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No more payments will be produced and a lot of people will get mad that they got scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site that we can state is secure to invest in. Any website that guarantees 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 site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a fair assumption about a websites validity.
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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 also claim the new coin as well.
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 however requires an above fundamental understanding of how 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 many non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and have a commission but that could easily turn into a scam which 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 that you get coins out of thin air. Airdrops are usually used 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 could possibly be the highest value for some time method you can use to create money from your Bitcoins however they can be SUPER risky. I would advise you to utilize these approaches 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 insecure while others take a greater amount of effort.
In order to make it much easier for you to review exactly what weve only covered we created a table that illustrates the different approaches news (you can see on top of this post). As you can see theres no simple, risk free way to generate 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 ways to create new income flows. .
You may still have some questions. If so, simply leave them in the comment section below. And when youve tried out one of the approaches previously and want to share your experience with it love to hear it as well.
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Each and every 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 do something similar to that 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 town ) now with a range of services available for those that are willing to pay with BTC.