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Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or give 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 website which is apparently untrue and solvent.
On top of this, they almost always have some sort of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that 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 angry that they have scammed.
We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can state is safe to invest in. Any site that promises you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out if a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair assumption about a sites validity.
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 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 demands an above basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep 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 would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this may easily turn into a scam which runs away 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 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 public, although in some cases some conditions can employ.
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 could possibly be the highest value for time method you can use to create money from the Bitcoins however they can be SUPER risky. I would advise you to use these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others require a greater amount of work.
In order to make it easier for you to review exactly what weve just covered we created a table that illustrates the different approaches (you can see on 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's possible, and if you put some effort into it you can find a lot of creative strategies to create new income streams. .
You might still have some questions. If so, just leave them in the comment section below. And when youve tried out one of the methods previously and want to share your experience with it Id love more tips here to hear it as well.
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