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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 particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every couple of days or give you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off older users. This procedure makes a lot of buzz around the site that seems to be legit and solvent.
On top of that, 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 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 lot of people may get mad that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a site which we can state is secure to invest in. Any website that guarantees you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites legitimacy.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. click to read more You can see our fork claiming guide here.
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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 maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and have a commission but this could easily turn into a scam which runs off with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are similar to Check This Out forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
By way of instance, 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 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 utilize these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure while others require a larger amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table which illustrates the different approaches (you can see on peak of the post). As you can see theres no simple, 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 lot of creative strategies to create new income flows. .
You might still have any questions. If so, just leave them in the comment section below. And if youve tried out one of the approaches previously and want to discuss your own experience with it love to hear it as well.
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