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Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every few days or give you unreal interest prices.
These sites actually do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the website which is apparently legit and solvent.
On top of this, they almost always have some type 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 produced and a great deal of people may get mad that they got scammed.
We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a website that we can say is secure to invest in. Any site that guarantees you something that's too good to be true is likely only a facade for scammers trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a sites validity.
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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 before the fork can now claim the new coin too.
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 requires an above fundamental understanding of the discover this way Bitcoin works. You can view our fork claiming guide here.
Bear 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 which assert the coins for you and take a commission but this may 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's a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can apply.
For 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 maximum value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd advise you to utilize these methods only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its 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 exactly what weve just covered we made a table which illustrates the different approaches (you can view on top of this post). As you can see theres no easy, risk free way to generate 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 ways 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 when youve tried out one of these methods previously and want to discuss your experience with it Id love to hear it as well.
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Every single day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from another continent to order a pizza for you with Bitcoins, now you can certainly do something like that in a number of major cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for people that are willing to pay with BTC.