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Weve tested out several loans at 99Bitcoins, and they all 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 which claim to double your coins every couple of days or give you unreal interest prices.
What these websites really do is take money from new users and use that money to pay off older users. This process creates a great deal of buzz around the site that seems to be legit and solvent.
On top of this, they nearly always have some sort of referral app so that consumers 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 the website will only go offline and the money is going to be gone. No more payments will be produced and a lot of people will get mad that they got scammed.
We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a website that we can state is safe to invest in. Any website that guarantees you something that is too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable 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 also claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of how Bitcoin works. You can view 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 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 claim the coins for you personally and take a commission but that could easily turn into a scam Go Here 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 which you get coins out of thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the 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 owned.
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To conclude, forks and airdrops could possibly be the maximum value for time method you can use to make money from your Bitcoins but they can be SUPER risky. I would recommend that you utilize these methods 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 earn money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others take a greater amount of effort.
In order to make it much easier for you to review exactly what weve just covered we made a table that illustrates the different methods (you can see on peak of this post). As you can see theres no easy, 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 visit their website make new income streams. .
You might still have some questions. If this is the case, just leave them in the comment section below. And when youve tried out one of these approaches previously and want to discuss your own experience with it Id love to hear it as well.
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