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Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific 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 couple of days or give you unreal interest rates.
These websites actually do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the site that is apparently legit and solvent.
On top of this, they almost always have some type of referral program so that consumers can bring their friends on board.
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This is how a Ponzi scheme works. This can go on for around 3-4 months until one day that the site will only go offline and the money is going to be gone. No longer payments will be made and a great deal of people will get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website which we can say is safe to invest in. Any site that promises you something that is too good to be true is likely 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 acquire 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 process 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 most non technical customers it would 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 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 has a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can employ.
For example, 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 some time method you can use to make money from your Bitcoins however they can be SUPER insecure. 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 you can earn Bitcoin or earn money with cryptocurrencies. In the end each approach has its own pros and cons, some are more risky while others take a larger amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table that illustrates the different methods (you can see on peak of this post). As you can see theres no simple, risk free way to generate money with Bitcoin. The good news is that it is possible, and if you put some effort into it you can find a great deal of creative strategies to create new income streams. .
You might still go to these guys have any questions. If so, just leave them in the comment section below. And when youve tried out one of these methods previously and want to discuss your own experience with it Id love to hear it as well.
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Each and every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from another continent to purchase a pizza for you with Bitcoins, now you can do something similar to this in a number of major cities. In some countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services available for people that are willing to pay with BTC.