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Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest rates.
What these websites really do is take money from new customers and use that money to pay off old users. This process makes a lot of buzz around the website which is apparently untrue and solvent.
On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.
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This is the way a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No more payments will be made and a lot of people may get angry that they got scammed.
We've reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can say is secure to invest in. Any website that guarantees you something that is too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to get 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 prior to the fork can now 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 however requires an above basic 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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you and take a commission but that could easily turn into a scam which 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 much like forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.
For 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 could possibly be the highest significance of some time method you can use to create money from the Bitcoins but they can be SUPER risky. I would recommend that you utilize these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its pros and cons, some are more risky while others require a greater amount of work.
In order to make it easier for you to review what weve only covered we made a table which illustrates the different approaches (you can view at the peak of this post). As you can see theres their explanation 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 may still have any questions. If so, just leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your own experience with it Id love to hear it as well.
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Every single day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to compose a person from another continent to order 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 offered for people that are willing to pay with BTC.