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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or provide you unreal interest rates.
These sites really do is take money from new users and use that money to pay off old users. This process creates a great deal of buzz around the website which is apparently legit and solvent.
On top of that, 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 functions. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No longer payments will be produced and a great deal of people may get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site which we can say is safe to invest in. Any website 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 if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get a reasonable assumption about a sites legitimacy.
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Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin too.
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 however requires an above basic find out understanding of how Bitcoin works. You can view our fork claiming guide .
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 customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you and take a commission but that may easily turn into a scam that runs away with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense which 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.
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 recommend that you use these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a lot of our website ways in which you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its own 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 what weve only covered we made a table that illustrates the different approaches (you can view at the top of this post). As you can see theres no simple, risk free way to generate 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 ways to create new income streams. .
You may still have any questions. If this is the case, simply leave them in the comment section below. And when youve tried out one of these methods above and want to share your own experience with it love to hear it as well.
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Every day, Bitcoin 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 can certainly do something similar to that in a the original source 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 available for those who are willing to pay with BTC.