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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 I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or provide you unreal interest rates.
These sites really do is take money from new customers and use that money to pay off old users. This process creates a lot of buzz around the website which is apparently untrue and solvent.
On top of this, they nearly always have some kind of referral program so that users can bring their friends on board.
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This is how a Ponzi scheme works. This will go on for around 3-4 months until one day the site will only go offline and the money is going to be gone. No more payments will be made and a lot of people may get mad that they got scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can state is safe to invest in. Any website that guarantees 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 whether a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation 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 before the fork can now also 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 basic understanding of how Bitcoin works. You can see our fork claiming guide here.
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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 keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but this why not look here could easily turn into a scam which runs away with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations 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 may be the highest significance of some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd advise you to use these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its own pros and cons, some are more risky while others take a greater amount of effort.
In order to make it much easier for you to review what weve only covered we made a table that illustrates the different approaches (you can see at the 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's possible, and if you put some effort into it you can find a lot of creative ways to make new income flows. .
You might still have any questions. If so, 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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