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Weve tested out several loans at 99Bitcoins, and they 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 sites that 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 process creates a lot of buzz around the site that seems to be legit and solvent.
On top of this, they nearly always have some sort 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 longer payments will be made and a great deal of people may get mad that they have scammed.
We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can say is secure to invest in. Any site that promises you something that's too good to be true is likely just a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a sites validity.
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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 prior to 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 demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide here.
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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this may easily turn into a scam which runs off with you money. .
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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 used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can apply.
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 may be the highest value for some time method you can use to create money from the Bitcoins but they can be SUPER risky. I would recommend that you utilize these methods 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 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 what weve just covered we made a table which illustrates the different methods (you can view at the peak of this 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 great deal of creative ways to create new income streams. .
You may still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of these methods above and want to discuss your own experience with it love to hear it as well.
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Every day, Bitcoin that the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you needed to compose a person from the other continent to order a pizza for you with Bitcoins, now you read this article can certainly do something similar to this in a number of major cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for people who are willing to pay with BTC.