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Weve tested out several 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 higher Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or give you unreal interest prices.
These sites really do is take money from new customers and use that money to pay off old users. This method creates a great deal of buzz around the site that is apparently untrue and solvent.
On top of that, they nearly 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 works. 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 made and a great deal of people may get mad that they have scammed.
We've reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can state is safe to invest in. Any site 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 site is a scam to get 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 from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.
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 but demands an above fundamental understanding of how 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 anchor 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 claim the coins for you personally and have a commission but that may easily turn into a scam that runs away with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases 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 may be the highest value for time method you can use to make money from the Bitcoins however they can be SUPER risky. I would recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its pros and cons, some are more risky while others require a larger amount of effort.
In order to make it easier for you to review what weve only covered we made a table which illustrates the different methods (you can see at the top of this post). As you can see theres 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 ways to make new income streams. .
You might still have some questions. If this is the case, simply leave them in the comment section below. And when youve tried out one of the approaches previously and want to discuss your experience with it Id love to hear it as well.
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Each and every single 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 that in a number of important cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services available for those that are willing to pay with BTC.