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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 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 prices.
What these sites actually do is take money from new users and use that money to pay off old users. This procedure makes a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they nearly always have some kind of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This will 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 lot of people may get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which we can say is secure to invest in. Any site that guarantees you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire 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 in the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of the way Bitcoin works. You can view 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 which assert the coins for you personally and take a commission but this 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 other cryptocurrencies assuming it's 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 general public, although in certain situations some conditions can employ.
By way of instance, Byteball was distributed publicly 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 time method you can use to create money from the Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky find more while others require a greater amount of effort.
In order to make it much easier for you to review what weve just covered we made a table that illustrates the different methods (you can see on top of this post). As you can see theres no simple, 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 great deal of creative ways to create new income flows. .
You may still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your experience with it Id love to hear it also.
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