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Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or give you unreal interest rates.
What these sites actually do is take money from new customers 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 almost always have some sort of referral program so that consumers can bring their friends on board.
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This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No more payments will be made and a great deal of people will get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a site that we can say is safe to invest in. Any site that guarantees you something that's too good to be true is likely only 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 test tool to get 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 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 more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You can see our fork claiming guide .
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Bear 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 would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which 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 claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that 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 certain cases some conditions can apply.
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 could possibly be the highest value for time method you can use to create money from your Bitcoins but they can be SUPER risky. I would advise you to utilize 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 make money with cryptocurrencies. In the end each approach has its pros look at here and cons, some are more risky while others take a greater amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table which illustrates the different approaches (you can see on peak 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 lot of creative ways to create new income streams. .
You may still have some questions. If this is the case, just leave them in the comment section below. And when youve tried out one of these approaches previously and want to discuss your experience with it Id love to hear it as well.
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