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Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or give you unreal interest prices.
These sites actually do is take money from new users and use that money to pay off old users. This procedure creates a great deal of buzz around the website which is apparently legit and solvent.
On top of this, they almost always have some kind of referral program 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 the site 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 angry that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website which we can say 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 if a website is a scam to get yourself Easy, use our Bitcoin scam test 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 originates from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin too.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic 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 customers it would 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 that runs off with you money. .
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense Get More Info that you get coins from thin air. 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 example, 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 create money from your Bitcoins but 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 make money with cryptocurrencies. In the end each method has its own pros and cons, some are more risky while others require a greater amount of work.
In order to make it easier for you to review exactly what weve just covered we created a table which illustrates the different methods (you can see on 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 great deal of creative ways to make new income streams. .
You may still have some questions. If so, simply leave them in the comment section below. And if youve tried out one of the approaches above and want to discuss your experience with it love to hear it also.
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