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Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific 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 give you unreal interest prices.
These sites actually do is take money from new customers and use that money to pay off old users. This procedure creates a great deal of buzz around the site that is apparently untrue and solvent.
On top of that, they almost always have some sort of referral app so that consumers 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 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 many Bitcoin investment websites in the previous 3 years and have yet to find a website which we can say is secure to invest in. Any website that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
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 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can see our fork claiming guide .
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam that runs off with you money. .
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins out of thin you could try these out air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
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 some time method you can use to create money from the Bitcoins however they can be SUPER risky. I would recommend that you utilize these approaches only after straight from the source considerable research and a fantastic understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others require a larger amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table which illustrates the different approaches (you can see on peak of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a lot of creative ways to make continue reading this new income streams. .
You might still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of the methods above and want to share your own experience with it love to hear it also.
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