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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or give you unreal interest prices.
These websites really do is take money from new customers and use that money to pay off older users. This procedure creates a great deal of buzz around the site that seems to be untrue and solvent.
On top of this, they almost always have some sort of referral app so that users can bring their friends on board.
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This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be produced and a great deal of people may get angry that they got scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a website which we can state is secure to invest in. Any website that promises you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .
How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a websites validity.
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 also claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but that may easily turn into a scam which runs away with you money. .
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 which 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 public, although in certain cases some conditions can apply.
For instance, 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 make 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 great deal of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its pros and cons, some are far more risky while others require a greater amount of work.
In order to make it easier for you to review exactly what weve just covered we created a table which illustrates the different methods (you can see on 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's 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 above and want to share your own experience with it Id love to hear it as well.
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