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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 specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every couple of days or provide you unreal interest rates.
These websites actually do is take money from new users and use that money to pay off old users. This procedure makes a lot of buzz around the site that seems to be untrue and solvent.
On top of this, they almost 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 will go on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be made and a great deal of people will get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can state is secure to invest in. Any site that guarantees you something that is too good to be true is likely only a facade for individuals trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam test 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 before 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can view 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 might 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 claim the coins for you personally and have a commission but this may easily turn into a scam which runs away with you money. .
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can apply.
By way of 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 could possibly be the highest value for time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would advise you to use 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 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 go now it easier for you to review what weve only covered we made a table that illustrates the different approaches (you can see at the top of the post). As you can see theres no easy, 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 great deal of creative ways to create new income flows. .
You may 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 methods previously and want to discuss your experience with it love to hear it as well.
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