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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 couple of days or give you unreal interest prices.
What these sites actually do is take money from new users and use that money to pay off older users. This procedure creates a lot of buzz around the site that seems to be untrue and solvent.
On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This will 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 mad that they got scammed.
We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website which we can state is secure to invest in. Any website that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .
How can you find out whether a website 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 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but this may easily turn into a scam which runs off with you money. .
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.
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 maximum significance of some time method you can use to make money from your Bitcoins but they can be SUPER risky. I would advise you to use these approaches only after ample research 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 pros and cons, some are more insecure while others require a greater amount of work.
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 see on peak of the post). As you can see theres no simple, risk free way to generate 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 make new income flows. .
You may still have any questions. If this is the case, simply leave them in the comment section below. And when youve tried out one of these methods above and want to go now share your own experience with it love to hear it as well.
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