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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 sites which claim to double your coins every few days or provide you unreal interest rates.
What these sites actually 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 seems to be legit and solvent.
On top of that, they nearly always have some type of referral app so that users can bring their friends on board.
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This is how 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 is going to be gone. No longer payments will be made and a lot of people may get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can say is safe 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, use our Bitcoin scam evaluation tool to acquire a reasonable 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 from the existing Bitcoin. Every person who held Bitcoin prior to 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 view our fork claiming guide here.
Bear 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 keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but this could easily turn into a scam that runs away 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's a market.
Airdrops are similar to forks in the sense which 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 public, although in certain cases some conditions can employ.
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 time method you can use to make money from the Bitcoins but they can be SUPER risky. I would recommend that you utilize 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 make money with cryptocurrencies. In the end each method has its own pros and cons, some are far more insecure while others require a larger amount of work.
In order to make it easier for you to review what weve just covered we created a table that illustrates the different methods (you can see on peak of the post). As you can see theres no easy, risk free way to make 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 create new income streams. .
You may still have some questions. If so, simply leave them in the comment section below. And when youve tried out one of these approaches above and want to share your experience with it Id love to hear it as well.
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Every single day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from another continent to order a pizza for you with Bitcoins, now you can certainly do something like helpful resources this in a number of important cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services offered for those who are willing to pay with BTC.