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Weve tested out several loans 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 that promise to double your coins every few days or give you unreal interest prices.
These sites really do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the website which seems to be untrue and solvent.
On top of this, they almost always have some sort of referral program so that consumers can bring their friends on board.
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This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the website will only go offline and the money is going to be gone. No more payments will be produced and a great deal of people will get mad that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a website 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 individuals trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
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 prior to 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 process for claiming forked coins (aka forkcoins) is standard however demands an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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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 most non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but this may easily turn into a scam that runs away with you money. .
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 used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
For example, 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 possibly be the highest significance of some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would official source recommend that you use these methods only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its pros and cons, some are more insecure while others take a greater amount of work.
In order to make it much easier for you to review what weve just 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 easy, risk free way to generate money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to create new income streams. .
You might still have any questions. If so, just leave them in the comment section below. And when youve tried out one of the approaches above and want to discuss your experience with it Id love to hear it also.
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