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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 particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or provide 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 is apparently legit and solvent.
On top of this, they nearly always have some kind of referral program so that consumers can bring their friends on board.
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This is the way a Ponzi scheme functions. This will 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 lot of people may get angry that they got scammed.
We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a site which we can state is secure to invest in. Any website that promises you something that is too good to be true is probably only a facade for scammers trying to steal your coins. .
How can you find out whether a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a websites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin prior to 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 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 could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you and have a commission but that could easily turn into a scam that runs off with you money. .
Once you maintained a forkcoin you can sell it anonymous on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops read more are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can employ.
By way of example, 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 significance of time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize 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 make money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more risky while others require a larger amount of work.
In order to make it easier for you to review exactly what weve only covered we made a table that this illustrates the different methods (you can view 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's possible, and if you put some effort into it you can find a great deal of creative strategies to create new income streams. .
You might still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of the methods above and want to share your experience with it Id love to hear it also.
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