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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or give you unreal interest prices.
These websites actually do is take money from new users and use that money to pay off old users. This procedure makes a lot of buzz around the site that seems to be legit and solvent.
On top of this, they almost always have some kind of referral program so that consumers can bring their friends on board.
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This is how a Ponzi scheme works. This can go on for around 3-4 months until one day the website will only go offline and the money is going to be gone. No more payments will be made and a lot of people will get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a website that we can say is safe to invest in. Any site that promises you something that is too good to be true is probably just a facade for scammers 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 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 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 requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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Bear in mind that if youre not sure what youre doing check these guys out 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 keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and visit this website take a commission but that could easily turn into a scam that runs off 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 general public, although in some situations some conditions can employ.
By way of 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 may be the highest significance of some time method you can use to make money from your Bitcoins but they can be SUPER risky. I would recommend that you site web utilize 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 make money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure while others require a larger amount of work.
In order to make it much easier for you to review what weve just covered we created a table that 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 is 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 so, just leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your own experience with it love to hear it as well.
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