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Weve tested out several 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 seems to be untrue and solvent.
On top of that, they nearly always have some sort 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 can go on for around 3-4 months until one day the site will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get angry that they have scammed.
We have reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website which we can state is safe to invest in. Any site that promises you something that is 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, use our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites legitimacy.
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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 as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .
Bear in mind that if youre not sure what youre doing 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 safe. Other alternatives include companies which assert the coins for you and take a commission but that could easily turn into a scam that runs off with you money. .
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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 often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain 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 value for time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each approach has its pros and cons, some are more risky while others require a larger amount of effort.
In order to make it easier for you to review what weve only covered we made a table that illustrates the different approaches (you can see on peak of the 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 lot of creative strategies more info here to make new income streams. .
You may still have any questions. If so, just leave them in the comment section below. And when youve tried out one of the approaches above and want to discuss your own experience with it love to hear it as well.
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Each and every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to compose a person from another continent to purchase a pizza for you with Bitcoins, now you can do something like that in a number of important cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often known as the Bitcoin town ) now with a range of services offered for people that are willing to pay with BTC.