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Weve tested out many loans here 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 sites which claim to double your coins every couple of 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 process makes a lot of buzz around the site that seems to be legit and solvent.
On top of this, they almost always have some type of referral app so that consumers 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 that the website will just go offline and the money will be gone. No more payments will be made and a lot of people may get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website which we can state is safe 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 website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire 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 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 demands an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide .
Bear in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and have 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 alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some 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 time method you can use to create money from your Bitcoins however they can be SUPER risky. I'd recommend that you use these methods only after considerable 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 take a greater amount of work.
In order to make it easier for you to review what weve only covered we created a table which illustrates the different methods (you can see on top of this post). As you can see theres no easy, risk free way to generate 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 streams. .
You might still have some questions. If so, just leave them in the you can check here comment section below. And if youve tried out one of the approaches above and want to discuss your experience with it love to hear it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from the other continent to purchase a pizza for you with Bitcoins, now you can do something like this in a number of major cities. In some countries such as the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often known as the Bitcoin town ) now with a range of services available for people that are willing to pay with BTC.