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Weve tested out several loans here at 99Bitcoins, and they 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 promise to double your coins every couple of days or give you unreal interest rates.
What these websites actually do is take money from new users and use that money to pay off old users. This procedure creates a lot of buzz around the website which seems to be untrue and solvent.
On top of that, they almost always have some kind of referral app 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 that the website will just 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 websites in the previous 3 years and have yet to find a site which we can state is safe to invest in. Any site that promises you something that is 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 for yourself Easy, use our Bitcoin scam test tool to acquire 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 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 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 but demands an above fundamental understanding of how Bitcoin works. You can view 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 customers it would better to pass on a fork and maintain your Bitcoins Learn More safe. Other alternatives include companies which claim the coins for you personally and have a commission but this may easily turn into a scam that runs away with you money. .
Once you maintained 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 used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
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 could possibly be the maximum value for time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd advise you to utilize these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each approach has its pros and cons, some are far more insecure while others take a larger amount of effort.
In order to make it much easier for you to review exactly what weve just covered we made a table that illustrates the different approaches (you can view on top of the post). As you can see theres no easy, 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 go to the website find a great deal of creative strategies to make new income streams. .
You might still have some questions. If this is the case, just leave them in the comment section below. And when youve tried out one of these approaches above and want to discuss your experience with it love to hear it as well.
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