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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 couple of 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 website which seems to be untrue 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 the website will just go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can say is safe to invest in. Any site that promises 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 if a site is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable 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 originates from 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 much more. The procedure 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 most non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but that may 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 other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are usually utilized 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 could next possibly be the highest value for some time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd recommend that you use these approaches only after ample research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each method Bonuses has its own pros and cons, some are more insecure while others take a larger amount of effort.
In order to make it much easier for you to review what weve just covered we made a table that illustrates the different approaches (you can view on peak of this post). As you can see theres no simple, 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 a great deal of creative ways to make new income streams. .
You might still have some questions. If this is the case, 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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Each and every day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to write a person from another 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 town ) now with a range of services available for those that are willing to pay with BTC.