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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 specific method.
Another method I suggest you 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.
What these sites actually do is take money from new customers and use that money to pay off older users. This method creates a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some type of referral program 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 the website 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 website which we can state is safe to invest in. Any website 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 whether a website is a scam for yourself Easy, use our Bitcoin scam test tool to get a reasonable 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.
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 but requires an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide here.
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 keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and take a commission but this could 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 other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
For instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and airdrops could possibly be the maximum value for some time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would recommend that official statement you utilize these methods only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are more insecure while others take a larger amount of effort.
In order to make it easier for you to review exactly what weve just covered we made a table that illustrates the different approaches (you can view on top check that of the post). As you can see theres no easy, 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 ways to make new income flows. .
You may still have any questions. If so, simply leave them in the comment section below. And when youve tried out one of these approaches previously and want to share your own experience with it Id love to hear it also.
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Every day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to write a person from another continent to order a pizza for you with Bitcoins, now you can certainly do something similar to this in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin town ) now with a range of services available for people who are willing to pay with BTC.