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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 it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or provide you unreal interest prices.
These sites actually do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the website which is apparently legit 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 will 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 made and a great deal of people may get mad that they have scammed.
We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website which 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 scammers trying to steal your coins. .
How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable 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 from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of how 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 could end up losing your Bitcoins. So for many 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 he said you and have a commission but this may easily turn into a scam which runs off with you money. .
Once you claimed a forkcoin you can Extra resources sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are often 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 apply.
By way of example, 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 time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or make visit site money with cryptocurrencies. In the end each method has its own pros and cons, some are far more insecure while others require a larger amount of effort.
In order to make it easier for you to review exactly what weve just covered we created a table that illustrates the different methods (you can view on peak of the post). As you can see theres no easy, risk free way to make money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a lot of creative ways to create new income flows. .
You may still have any questions. If this is the case, just leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your own experience with it Id love to hear it as well.
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