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Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every few days or give you unreal interest prices.
These websites really do is take money from new customers and use that money to pay off older users. This procedure creates a great deal of buzz around the site that is apparently 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 that the website will just go offline and the money is going to be gone. No longer payments will be produced and a lot of people may get mad that they got scammed.
We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website which we can state is safe to invest in. Any site that promises you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam evaluation 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 originates 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 requires an above basic understanding of how Bitcoin works. You can see our fork claiming guide here.
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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 users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you and take a commission but that could easily turn into a scam that runs off with you money. .
Once you maintained a forkcoin you site here can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
For example, Byteball was distributed publicly to Bitcoin users depending on the click reference 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 make money from your Bitcoins however they can be SUPER risky. I'd advise you to utilize these approaches only after considerable research and a fantastic 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 own pros and cons, some are far more risky while others require a greater amount of work.
In order to make it much easier for you to review what weve only covered we made a table which illustrates the different approaches (you can see at the 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 is possible, and if you put some effort into it you can find a lot of creative ways to create new income streams. .
You may still have some questions. If so, just leave them in the comment section below. And if youve tried out one of the methods previously and want to discuss your experience with it Id love to hear it also.
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