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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 I suggest you avoid are coin doublers and High 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 process makes a great deal of buzz around the site that is apparently legit and solvent.
On top of this, 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 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 made and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can say is secure to invest in. Any website that promises you something that is too good to be true is probably only a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a sites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before 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 basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
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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 users it would 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 this could easily turn into a scam which runs off 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 that you get coins out of thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in check out this site some situations some conditions can apply.
For instance, Byteball was distributed publicly 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 but they can be SUPER risky. I would advise you to utilize these approaches only after 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 see post the end each approach has its own pros and cons, some are more risky while others take 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 view on peak of the post). As you can see theres no simple, risk free way to make 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 ways to create new income streams. .
You may still have some questions. If so, just leave them in the comment section below. And when youve tried out one of these approaches previously and want to share your experience with it Id love to hear it also.
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