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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 I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or provide you unreal interest rates.
These websites actually do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be legit and solvent.
On top of this, they almost always have some type of referral program so that consumers 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 that the website will only go offline and the money will be gone. No more payments will be produced and a lot of people will get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is secure to invest in. Any site 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 if a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a sites 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 also claim the new coin as well.
The first popular fork 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 demands an above basic understanding of how Bitcoin works. You can see our fork claiming guide .
Keep 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 which assert the coins for you and take a commission but that may easily turn into a scam that 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 that you get coins from thin air. Airdrops are often used 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 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 time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd recommend that you utilize these methods 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 earn money with cryptocurrencies. In the end each method has its own 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 exactly what weve only covered we made a table that illustrates the different methods (you can see at the top of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The good news is that it's possible, and if you put some effort into it special info you can find a great deal of creative ways to make new income flows. .
You might still have some questions. If so, just leave them in the comment section below. And when youve tried out one of these methods above 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 that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from another continent to purchase a pizza for you with Bitcoins, now you can certainly do something like 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 town ) now with a range of services offered for people that are willing to pay with BTC.