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Weve tested out many 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 higher Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of days or give you unreal interest prices.
These websites actually do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be legit and solvent.
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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 just go offline and the money will be gone. No longer payments will be produced 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 website that we can state is secure to invest in. Any website that promises 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 website is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a websites 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 prior to the fork can now claim the new coin too.
The first popular fork 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. You can view our fork claiming guide here.
Keep 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 users 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 may easily turn into a scam that runs away with you money. .
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Once you claimed 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 usually utilized read this to spread the word about 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 could possibly be the highest value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would recommend that you use these methods only after considerable research see this page and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others take a larger amount of work.
In order to make it much easier for you to review what weve just covered we made a table which illustrates the different approaches (you can view at the top of this post). As you can see theres no simple, risk free way to make money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a lot 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 if youve tried out one of these methods above and want to share your own experience with it Id 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 write look these up a person from another continent to purchase a pizza for you with Bitcoins, now you can certainly do something similar to this in a number of major cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin town ) now with a range of services available for people that are willing to pay with BTC.