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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every couple of days or give you unreal interest prices.
These websites really do is take money from new users and use that money to pay off old users. This procedure makes a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some kind of referral program so that consumers can bring their friends on board.
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This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money is going to be gone. No longer payments will be made and a lot of people will get mad that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site that we can state is safe to invest in. Any site that promises you something that's too good to be true is probably only a facade for scammers 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 fair assumption about a websites validity.
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 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 however demands an above basic 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 most non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you and have a commission but that 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 other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.
By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they next owned.
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To conclude, forks and airdrops may be the maximum value for time method you can use to create money from the Bitcoins however they can be SUPER risky. I would recommend that you use these approaches only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or earn money with sites cryptocurrencies. In the end each approach has its pros and cons, some are far more insecure while others require a greater 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 methods (you can see at the top of this post). As you can see theres no easy, risk free way to make money with Bitcoin. The good news is that it is possible, and if you put some effort into it you can find a great deal of creative ways to create new income streams. .
You might still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of these approaches previously and want to share your own experience with it love to hear it also.
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