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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest prices.
These sites really do is take money from new users and use that money to pay off old users. This process makes a great deal of buzz around the site that is apparently 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 site will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get mad that they have scammed.
We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website that we can say is safe to invest in. Any site that guarantees you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
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 prior to 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide .
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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 many non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but this could easily turn into a scam which runs away with you money. .
Once you maintained 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 that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.
By way of instance, 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 maximum value for some time method you can use to make money from the Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others take a greater amount of effort.
In order to make it much easier for you to review what weve only covered we created a table that illustrates the different methods (you can view at the peak of this post). As you can see theres no simple, risk free way to make money with Bitcoin. The good news is that it is possible, and if you put some effort into it you can find a lot of creative strategies to make new income streams. .
You might still have some questions. If this is the case, just leave them in the comment section below. And if youve tried out one of these approaches previously and want to share your own experience with it love to hear it as well.
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