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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest prices.
These websites actually do is take money from new customers and use that money to pay off old users. This process makes a great deal of buzz around the site that seems to be untrue and solvent.
On top of this, they nearly always have some kind of referral app so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the site will just go offline and the money is going to be gone. No longer payments will be produced and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site which we can say is safe to invest in. Any site that promises 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, utilize our Bitcoin scam test tool to get a fair assumption about a sites validity.
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 prior to 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 more. The process for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .
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Keep 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 keep your Bitcoins secure. Coinplants Other alternatives include companies which claim the coins for you personally and have a commission but this may easily turn into a scam which runs away with you money. .
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 in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can employ.
By way of 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 highest value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after ample research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure while others take 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 which illustrates the different approaches (you can view on peak of this 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 lot of creative strategies to create new income flows. .
You may still 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 share your own experience with it love to hear it also.
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