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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher 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.
These sites actually do is take money from new users and use that money to pay off old users. This process makes a great deal of buzz around the site that seems to be legit and solvent.
On top of that, they nearly always have some kind of referral app 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 that the site will just go offline and the money is going to be gone. No more payments will be made and a great deal of people will get angry that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site that we can state is safe to invest in. Any website that promises you something that's too good to be true is likely only a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to acquire a fair assumption about a sites validity.
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 claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
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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 customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim the coins for you and take a commission but that could easily turn into a scam which runs off with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can apply.
For 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 create money from your Bitcoins however they can be SUPER risky. I would 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 earn money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure while others take a greater amount of work.
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 see at the top of this 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 great deal of creative ways to create new income streams. .
You may still have any see it here questions. If this is the case, just leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your experience with it Id love to hear it as well.
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