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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 particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or give you unreal interest rates.
What these websites really do is take money from new users and use that money to pay off old users. This process creates a great deal of buzz around the site that is apparently untrue and solvent.
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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 more payments will be made and a lot of people may get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website which we can say is safe to invest in. Any website that promises you something that is too good to be true is probably only a facade for individuals 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 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 but requires an above fundamental 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 could end up losing your Bitcoins. So for most non technical customers 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 may easily turn into a scam that runs away 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's a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations 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 some time method you can use to make money from your Bitcoins however they can be SUPER risky. I would recommend that you utilize these methods only after ample research and a good understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its pros and cons, some are more risky while others require a larger amount of work.
In order to make it easier for you to review exactly what weve only covered we made a table that illustrates the different methods (you can view at the peak of this post). As you can see theres no easy, 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 create new income flows. .
You might still have any questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of the methods above and want to discuss your own experience with it Id love to hear it also.
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Each and every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to write a person from the other continent to purchase a pizza for you with Bitcoins, now you can certainly do something like this in a number of major cities. In some countries like the Netherlands, the image source entire towns are Bitcoin-friendly (such as Arnhem, often known as the Bitcoin city) now with a range of services offered for people who are willing to pay with BTC.