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Weve tested out several 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 which claim to double your coins every few days or provide you unreal interest prices.
What these websites actually do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the site that is apparently untrue and solvent.
On top of that, they nearly always have some sort of referral program so that consumers 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 that the website will just go offline and the money is going to be gone. No longer payments will be made and a great deal of people may get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site which we can state is safe to invest in. Any website that promises 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 evaluation tool to acquire a reasonable assumption about a websites legitimacy.
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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 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 the way Bitcoin works. You can see our fork claiming guide here.
Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which assert the coins for you and have a commission but this could easily turn into a scam that runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases 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 may be the highest significance of some time method you can use to create money from your Bitcoins but they can be SUPER risky. I'd recommend that you utilize these methods only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each approach has its pros and cons, some are far more insecure while others take a greater amount of effort.
In order to make it easier for you to review what weve only covered we created a table that illustrates the different methods (you can view on top of the post). As you can see theres no simple, 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 lot of creative strategies to make new income streams. .
You might still have some questions. If so, just 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 love to hear it as well.
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Each and every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from another continent to purchase a pizza for you with Bitcoins, now you can do something like this in a number of major cities. In some countries such as the our website Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for those that are willing to pay with BTC.