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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or provide you unreal interest rates.
These websites actually 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 seems to be legit and solvent.
On top of this, they nearly always have some sort of referral app so that consumers can bring their friends on board.
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This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No longer payments will be produced and a great deal of people will get mad that they got scammed.
We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website that we can say is safe to invest in. Any website that guarantees you something that's too good to be true is likely just 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 evaluation tool to get a fair 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 from 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 however 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 many non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and have a commission but that 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 alternative cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the 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 maximum value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after ample research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others require a greater amount of work.
In order to make it easier for you to review what weve only covered we created a table that illustrates the different methods (you can view at the top of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The good news Web Site is that it is possible, and if you put some effort into it you can find a lot of creative strategies to make new income streams. .
You might still have any questions. If so, just leave them in the comment section below. And if youve tried out one of these approaches previously and want to share your own experience with it Id love to hear it as well.
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