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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 provide you unreal interest prices.
What these sites actually do is take money from new customers and use that money to pay off older users. This method creates a lot of buzz around the website which seems to be untrue and solvent.
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This is the way a Ponzi scheme functions. 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 longer payments will be produced and a lot of people will get mad that they got scammed.
We've reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site that we can say is safe to invest in. Any site that guarantees 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 for yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites 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 fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can see our fork claiming guide .
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 would 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 maintained 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 that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is you can find out more distributed freely to the public, although in some situations some conditions can employ.
For 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 may be the highest value for time method you can use to create money from the Bitcoins but they can be SUPER risky. I'd recommend that you utilize these approaches only after ample research and a good 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 method has its pros and cons, some are more insecure while others require a greater amount of effort.
In order to make it much easier for you to review exactly what weve just covered we created 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 good news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to make 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 methods above and want to share your own experience with it Id love to hear it as well.
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Each and every single 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 do something similar to this in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin town ) now with a range of services available for those that are willing to pay with BTC.