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Weve tested out many loans at 99Bitcoins, and they 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 websites that promise to double your coins every couple of days or give you unreal interest rates.
What these websites really do is take money from new users and use that money to pay off old users. This process creates a great deal of buzz around the website which is apparently untrue and solvent.
On top of this, they almost always have some sort of referral app so that consumers can bring their friends on board.
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This is how 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 produced and a lot of people will get mad that they got scammed.
We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a site that we can state is secure to invest in. Any website that guarantees you something that is too good to be true is likely only a facade for individuals trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam test tool to get a fair 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 prior to the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and 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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Bear 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 would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and take a commission but that may easily turn into a scam that runs away with you money. .
Once you maintained a forkcoin you can sell it on an visit here exchange for Bitcoin or alternative cryptocurrencies assuming it's 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 apply.
By way of 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 may be the maximum value for time method you click this can use to create money from the Bitcoins but they can be SUPER risky. I would recommend that you use these methods only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways 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 take a greater amount of effort.
In order to make it easier for you to review what weve only covered we created a table which illustrates the different methods (you can view at the top of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a great deal of creative ways to make new income flows. .
You may still have any questions. If this is the case, just leave them in the comment section below. And if youve tried out one of the approaches previously go to my blog and want to share your experience with it Id love to hear it as well.
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