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Weve tested out many 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 higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or give you unreal interest prices.
These websites really do is take money from new users and use that money to pay off older users. This process creates a great deal of buzz around the site that seems to be legit and solvent.
On top of that, they almost always have some kind of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This will 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 may get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a site that we can say is safe to invest in. Any website that guarantees you something that is too good to be true is probably only a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites 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 too.
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 fundamental understanding of how Bitcoin works. You can see our fork claiming guide here.
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Bear in mind that if youre not go to this website 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 maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you and have a commission but this may easily turn into a scam that runs away with you money. .
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense which 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 general public, although in some situations some conditions can apply.
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 maximum value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a fantastic 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 pros and cons, some are far more insecure while others take a larger amount of effort.
In order to make it much easier for you to review what weve only covered we created a table which illustrates the different methods (you can see at the peak of this post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic 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 flows. .
You may still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your experience with it love to hear it also.
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