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Weve tested out many loans 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 which claim to double your coins every couple of days or give you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off old users. This process makes 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 the way a Ponzi scheme works. This can 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 angry that they got scammed.
We have reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a website which we can say is safe to invest in. Any site that promises you something that's too good to be true is likely just a facade for individuals 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 reasonable 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 in the existing Bitcoin. Every person who held Bitcoin prior to 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 much more. The process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of the way 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 many non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take a commission but this could easily turn into a scam which runs off with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.
For example, 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 value for time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd advise you to use these methods only after considerable research and a good 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 method has its pros and cons, some are more risky while others take a greater amount of work.
In order to make it much easier for you to review exactly what weve just covered we created a table that illustrates the different methods (you can see on top of this post). As you can see theres no easy, risk free way to make money with Bitcoin. Learn More 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 own experience with it love to hear it also.
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