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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 it is wise to 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 rates.
What these sites actually do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they nearly always have some sort of referral program 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 site will just go offline and the money is going to be gone. No longer payments will be made and a lot of people will get angry that they got scammed.
We've reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a site that we can say is secure to invest in. Any site that guarantees you something that is too good to be true is probably only a facade for scammers trying to steal your coins. .
How can you find out whether a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire 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 emerges from the existing Bitcoin. Every person who held Bitcoin prior to 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 procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep in mind that if Recommended Reading youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but that could easily turn into a scam that runs away with you money. .
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 which 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 general public, although in certain situations some conditions can apply.
By way of 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 may be the highest value for some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you use these methods only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are far more insecure while others require a larger amount of work.
In order to make it much easier for you to review what weve only covered we created a table which illustrates the different approaches (you can see at the peak of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to make new income streams. .
You may still have some questions. If this is the case, just leave them in the comment section below. And if 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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