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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to avoid are coin doublers and higher 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 sites really do is take money from new users and use that money to pay off old users. This procedure creates a lot of buzz around the website which is apparently legit and solvent.
On top of this, they almost 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 functions. This can go on for around 3-4 months until one day that the website will just go offline and the money will be gone. No more payments will be made and a great deal of people may get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can state is secure to invest in. Any site that promises you something that's too good to be true is probably only a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get a reasonable assumption about a sites legitimacy.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before the fork can now 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 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 many 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 take a commission but this could easily turn into a scam that runs off with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins from thin air. reference Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and read review airdrops may be the highest significance of some time method you can use to create money from the Bitcoins however they can be SUPER risky. I would advise you to use these approaches only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its pros and cons, some are far more insecure while others require a larger amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table that illustrates the different methods (you can view 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's possible, and if you put some effort into it you can find a great deal of creative strategies see this here to make new income streams. .
You might still have some questions. If so, just leave them in the comment section below. And if youve tried out one of the methods above and want to share your own experience with it love to hear it as well.
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