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Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific 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 few days or give you unreal interest prices.
These sites really do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the site that is apparently 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 how a Ponzi scheme functions. This can go on for around 3-4 months until one day the site will only go offline and the money is going to be gone. No longer payments will be produced and a lot of people may get angry that they got scammed.
We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a website that we can say is safe to invest in. Any website that promises you something that's too good to be true is probably only a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get 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 from 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 however demands an above fundamental understanding of how Bitcoin works. You can view 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 maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and have 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 has a market.
Airdrops are much like forks in her latest blog 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 situations some conditions can employ.
For 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 maximum value for some time method you can use to make money from your Bitcoins but they can be SUPER risky. I would advise you to utilize these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot 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 work.
In order to make it much easier for you to review what weve just covered we created a table which illustrates the different methods (you can view at the peak 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 lot of creative strategies to create new income flows. .
You may still have any questions. If this is the case, just leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your experience with it love to hear it also.
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Every day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to compose a person from another continent to order a pizza for you with Bitcoins, now you can certainly do something like this in a number of important cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin town ) now with a range of services offered for people who are willing to pay with BTC.