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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 specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every few days or give you unreal interest rates.
These sites actually 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 website which is apparently untrue and solvent.
On top of that, they almost 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 will be gone. No longer payments will be produced and a great deal 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 which we can say is safe to invest in. Any website that guarantees 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 website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a fair 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 in the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin too.
The first popular fork 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 see our fork claiming guide here.
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 users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you and have a commission but that may easily turn into a scam that runs away with you money. .
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Once you claimed 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 out of thin air. Airdrops are often 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.
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 maximum value for some time method you can use Learn More Here to create money from the Bitcoins however they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or even earn money with cryptocurrencies. In the end each method has its own 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 what weve just covered we created a table which illustrates the different approaches (you can see at the peak of this post). As you can see theres no easy, 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 great deal of creative strategies to create 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 these approaches previously and want to discuss your experience with it Id 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 had to write a person from another continent to purchase a pizza for you with Bitcoins, now you can do something like that in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services offered for those who are willing to pay with BTC.