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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to 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 older users. This method creates a lot of buzz around the website which seems to be legit and solvent.
On top of this, they almost always have some type of referral app 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 that the website will just go offline and the money will be gone. No longer payments will be made and a lot of people will get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site that we can state is secure to invest in. Any website that guarantees you something that's 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 fair assumption about a sites validity.
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Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now 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 fundamental understanding of how Bitcoin works. You can see our fork claiming guide here.
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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but that may easily turn into a scam which runs off with you money. .
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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 which you get coins from thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can employ.
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 may be the highest value for some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I would recommend that you use these methods only after considerable research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each approach has its pros and cons, some are far more insecure while others require a greater amount of hop over to here effort.
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 see on peak of this post). As you can see theres no easy, risk free way to generate money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a lot of creative strategies to create new income streams. .
You might still have some questions. If so, just leave them in the comment section below. And when youve tried out one of these methods above and want to share your own experience with it Id love to hear it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you had to write a person from the other continent to purchase a pizza for you with Bitcoins, now you can 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 known as the Bitcoin city) now with a range of services available for people that are willing to pay with BTC.