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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from 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 claim to double your coins every couple of days or provide you unreal interest rates.
These websites actually do is take money from new customers and use that money to pay off old users. This method makes a great deal of buzz around the website which is apparently untrue and solvent.
On top of that, they almost always have some sort of referral app so that users can bring their friends on board.
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This is how 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 is going to be gone. No more payments will be produced and a lot of people will get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site that we can state is secure to invest in. Any site 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, utilize our Bitcoin scam evaluation tool to get a reasonable assumption about a sites validity.
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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 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 .
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 assert the coins for you and have a commission but that could 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 alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are usually 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 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 time method you can use to create money from the Bitcoins but they can be SUPER risky. I would advise you to use these methods only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are more risky while others require a larger amount of work.
In order to make it easier for you to review what weve just covered we made a table which illustrates the different approaches (you can view 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 is possible, and if you put some effort into it you can find a lot of creative strategies to make new income flows. .
You may still have some questions. If so, just leave them in the comment section below. And if youve tried out one of these approaches previously and want to discuss your own experience with it love to hear it as well.
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Every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to write a person from the other continent to order a pizza my website for you with Bitcoins, now you can do something like this in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for those who are willing to pay with BTC.