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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 specific method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or provide you unreal interest prices.
What these websites really do is take money from new customers and use that money to pay off old users. This method makes a lot of buzz around the site that seems to be legit and solvent.
On top of this, they almost always have some type of referral program so that consumers 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 more payments will be made and a great deal of people will get mad that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can state is safe to invest in. Any site that guarantees you something that's 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 to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites legitimacy.
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Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much 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 here.
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'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and take a commission but this could easily turn into a scam which runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
For example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins navigate to this website they owned.
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To conclude, forks and airdrops may be the highest value for time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would advise you to use these methods only after ample 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 method has its pros and cons, some are more risky while others require a larger amount of work.
In order to make it easier for you to review what weve just covered we created a table which illustrates the different approaches (you can view at the peak of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a lot of creative ways to make new income flows. .
You may still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of the approaches previously and want to share your experience with it love to hear it as well.
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Each and every single day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you needed to write a person from another continent to order a pizza for you with Bitcoins, now you can do something similar to that in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services offered for those who are willing to pay with BTC.