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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest rates.
These websites actually 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 website which seems to be legit and solvent.
On top of this, they almost always have some kind of referral app so that consumers 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 site will only go offline and the money will be gone. No more payments will be made and a great deal of people may get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a site that we can say is secure to invest in. Any site that guarantees 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 if a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire 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 before the fork can now 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 fundamental understanding of the way 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 might end up losing your Bitcoins. So for most non technical users it would 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 that could easily turn into a scam which runs away with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to 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 general public, although in some situations some conditions can apply.
By way of 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 could possibly be the maximum value for some 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 good understanding of the claiming process.
Weve covered Satoshi Every 5 Minutes a great deal of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others require a larger amount of work.
In order to make it easier for you to review exactly what weve only covered we made a table which 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 fantastic news is that it is possible, and if you put some effort into it you can find a great deal home of creative strategies to create new income streams. .
You may 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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