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Weve tested out several loans 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 websites which claim to double your coins every couple of days or provide you unreal interest rates.
What these sites really do is take money from new customers and use that money to pay off older users. This process makes a lot of buzz around the site that is apparently untrue and solvent.
On top of this, they nearly always have some kind 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 website will only go offline and the money is going to be gone. No longer payments will be produced and a lot of people will 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 that we can state is safe to invest in. Any site that guarantees you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
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 however requires an above fundamental understanding of the way Bitcoin works. You can view 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 most non technical customers it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but this could 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 has a market.
Airdrops are similar to forks in the sense address which 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 general public, although in some situations some conditions can employ.
By way of 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 significance of some time method you can use to create money from the Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a lot 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 more risky while others require a larger amount of work.
In order to make it much easier for you to review what weve only covered we made a table that illustrates the different methods (you can view on peak 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 ways to create new income flows. .
You might still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of the methods previously and want to share your experience with it Id love to hear it also.
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