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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 particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or provide you unreal interest prices.
What these websites really do is take money from new users and use that money to pay off old users. This process makes a great deal of buzz around the site that seems to be untrue and solvent.
On top of that, they almost always have some sort of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the site will just go offline and the money is going to be gone. No more payments will be produced and a lot of people may get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a website which we can say is secure to invest in. Any site that guarantees you something that is too good to be true is probably just a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites legitimacy.
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 before 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 process for claiming forked coins (aka forkcoins) is standard but requires basics an above basic understanding of how Bitcoin works. You can see our fork claiming guide here.
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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 safe. Other alternatives include companies that assert the coins for you and take a commission but this may easily turn into a scam which runs off with you money. .
Once you maintained 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 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 employ.
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 value for some time method you can use to create money from the Bitcoins but they can be SUPER insecure. I would recommend that you use these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more risky while others require a greater amount of work.
In order to make it much easier for you to review exactly what weve only covered we created a table which illustrates the different approaches (you can view on peak of this post). As you can see theres no easy, 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 make new income flows. .
You may still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of the approaches previously and want to discuss your experience with it love to hear it as well.
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