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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or give you unreal interest prices.
What these sites actually do is take money from new customers and use that money to pay off older users. This procedure creates a great deal 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 only go offline and the money is going to be gone. No more payments will be made and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the past 3 years 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 likely only a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam for yourself Easy, use 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 claim the new coin as well.
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 but requires an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide .
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Bear 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 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 that could easily turn into a scam that 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 much like forks in the sense that you get coins from thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can employ.
By way of example, Byteball was distributed publicly 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 significance of some time method you can use to create money from your Bitcoins but they can be SUPER risky. I would recommend that you use these approaches 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 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 which illustrates the different methods (you can view at the peak of this post). As you can see theres no simple, risk free way to generate 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 create new income flows. . you can try here
You may 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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