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Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or provide you unreal interest rates.
What these websites actually do is take money from new customers and use that money to pay off old users. This process makes a lot of buzz around the site that is apparently untrue and solvent.
On top of that, 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 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 lot of people will get angry that they have scammed.
We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website that we can state is safe to invest in. Any site that guarantees you something that is too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam test 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 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 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 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'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you and have a commission but this could 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 alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
For example, 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 value for some time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after considerable research and a good understanding of the claiming process.
Weve covered great post to read a lot of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its pros and cons, some are 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 made a table which illustrates the different methods (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 good news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to create new income flows. .
You might still have some questions. If so, just leave them in the comment section below. And if youve tried out one of the approaches previously and want to share your own experience with it Id love to hear it as well.
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