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Weve tested out several loans here at 99Bitcoins, and they 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 websites that claim to double your coins every few days or give you unreal interest rates.
These websites actually do is take money from new users and use that money to pay off old users. This method makes a lot of buzz around the website which is apparently legit and solvent.
On top of that, they almost 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 will go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No longer payments will be produced and a great deal of people may get mad that they got scammed.
We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site which we can state is secure to invest in. Any site that guarantees you something that is too good to be true is probably only a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a sites validity.
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Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but demands 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 most non technical customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and take a commission but this may easily turn into a scam that runs away 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 similar to forks in the sense that you get coins out of thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can employ.
By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and airdrops may be the highest significance of some time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or even earn money with cryptocurrencies. In use this link the end each method has its own pros and cons, some are more insecure while others require a greater amount of effort.
In order to make it much easier for you to review what weve only covered we made a table which illustrates the different approaches (you can see at the top of the post). As you can see theres no simple, 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 ways to make new income flows. .
You may still have some questions. If so, simply leave them in the comment section below. And if youve tried out one of these approaches previously and want to share your experience with it love to hear it as well.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology becoming 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 certainly do something like 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.