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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or provide you unreal interest rates.
These sites really do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the site that 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 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 longer payments will be produced and a lot of people may get mad that they have scammed.
We've reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a website that we can say is secure to invest in. Any website that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam test 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 before the fork can now claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and maintain 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 has a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in 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 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 some time method you can use to create 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 lot of ways you can earn Bitcoin or even earn money with cryptocurrencies. In the end each method has its pros and cons, some are far more insecure while others take a larger amount of effort.
In order to make it much easier for you to review exactly what weve just covered we made a table which illustrates the different approaches (you can view on peak of this 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 great deal of creative ways to create new income streams. .
You may still have any questions. If this is the case, just leave them in the comment section below. And when youve tried out one of the methods previously and want to share your own experience with it love to hear it as well.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from another continent to purchase a pizza for you with Bitcoins, now you can certainly do something similar to this in additional resources a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for those who are willing to pay with BTC.