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Weve tested out several loans here 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 websites which promise to double your coins every few days or provide you unreal interest prices.
What these websites actually do is take money from new users and use that money to pay off old users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some sort of referral app 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 longer payments will be made and a great deal of people will get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website which we can state is safe to invest in. Any site that promises 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 for yourself Easy, use our Bitcoin scam test tool to get a reasonable assumption about a websites validity.
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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 too.
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 but demands an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
Bear in mind that if youre not sure what youre doing when claiming a forkcoin link you could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but this may 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 alternative cryptocurrencies assuming it has 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 in a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can employ.
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 could possibly be the highest value for time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you use these approaches only after considerable 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 approach has its pros and cons, some are far more risky while others take a greater amount of work.
In order to make it much easier for you to review what weve only covered we created a table that illustrates the different approaches (you can view at the 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 is possible, and if you put some effort into it you can find a great deal of creative strategies to make new income flows. .
You may still have any questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of these methods previously and want to discuss your experience with it love to hear it as well.
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Every single day, Bitcoin the cryptocurrency and Bitcoin useful source the technology informative post gets more popular. When in 2011 you had to compose a person from the other continent to order a pizza for you with Bitcoins, now you can certainly do something like this in a number of important cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin city) now with a range of services available for people that are willing to pay with BTC.