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Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which 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 process makes a great deal of buzz around the website which is apparently untrue and solvent.
On top of that, 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 functions. This will go on for around 3-4 months until one day the website will just go offline and the money will be gone. No more payments will be produced and a great deal of people will get mad that they got 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 just a facade for individuals trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam test tool to get a reasonable 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 from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
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Bear 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 users it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but that may 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 has a market.
Airdrops are much like forks in the sense which 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 public, although in certain 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 go to this site could possibly be the maximum value for time method you can use to make money from the Bitcoins however they can be SUPER risky. I would advise you to utilize 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 make money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others take a larger 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 approaches (you can view at the peak of this post). As you can see theres no easy, risk free way to generate 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 strategies to make new income flows. .
You might still have some questions. If this is the case, just leave them in the comment section below. And if youve tried out one of these approaches previously and want to discuss your own experience with it Id love to hear it as well.
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