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Weve tested out several loans at 99Bitcoins, and they all 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 prices.
What these sites really do is take money from new users and use that money to pay off older users. This process makes a great deal of buzz around the website which seems to be untrue and solvent.
On top of this, they almost 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 will go on for around 3-4 months until one day that the site will only go offline and the money is going to be gone. No more payments will be produced and a great deal of people will get angry that they got scammed.
We have reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website which we can say is safe 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 website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a websites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
The first popular fork 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 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 could end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but this could easily turn into a scam that runs away with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The wikipedia reference 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 highest significance of some time method you can use to make money from the Bitcoins but they can be SUPER risky. I'd recommend that you use these methods only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its own pros and cons, some are more risky while others require a greater amount of effort.
In order to make it much easier for you to review exactly what weve only covered we created a table that illustrates the different methods (you can see on top of the post). As you can see theres no easy, risk free way to make 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 of creative strategies to create new income streams. .
You might still have some questions. If so, simply leave them in the comment section below. And if youve tried out one of the methods previously and want to share your own experience with it Id love to hear it as well.
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