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Weve tested out many 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 sites really do is take money from new customers and use that money to pay off old users. This process creates a lot of buzz around the site that is apparently legit and solvent.
On top of this, they almost always have some kind 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 that the website will just go offline and the money will be gone. No more payments will be made and a great deal of people will get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a site that we can state is safe 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 evaluation tool to acquire a fair assumption about a websites legitimacy.
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 before the fork can now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide .
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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 many non technical users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but this may easily turn into a check this scam which 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 from thin air. Airdrops are usually 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 significance of some time method you can use to create money from your Bitcoins however they can be SUPER risky. I would recommend that see here you 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 approach has its own pros and cons, some are far more insecure while others take a greater amount of work.
In order to make it much easier for you to review exactly what weve only covered we you could try here made a table which illustrates the different approaches (you can view at the peak of the post). As you can see theres no easy, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a lot of creative strategies to create new income streams. .
You may still have any questions. If this is the case, just leave them in the comment section below. And when youve tried out one of these methods previously and want to share your experience with it love to hear it as well.
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