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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 particular method.
Another method it is wise to 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 give you unreal interest prices.
What these websites really do is take money from new customers and use that money to pay off old users. This procedure creates a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some sort of referral app 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 that the website will just go offline and the money will be gone. No more payments will be produced and a lot of people will get angry that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site which we can say is safe to invest in. Any website that promises 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, 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 also 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 fundamental understanding of how Bitcoin works. You can see our fork claiming guide .
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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'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but that may easily turn into a scam which runs away with you money. .
Once you maintained a forkcoin you can try this out 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 from thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases 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 could possibly be the maximum significance of some time method you can use to create money from the Bitcoins but they can be SUPER risky. I would advise you to utilize these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a lot 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 risky while others take a larger amount of work.
In order to make it easier for you to review what weve only covered we made a table that illustrates the different methods (you can see on top of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a lot of creative strategies to make new income flows. .
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 previously and want to share your own experience with it Id love to hear it as well.
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