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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or give you unreal interest prices.
These sites actually do is take money from new users and use that money to pay off older users. This method makes a lot of buzz around the website which is apparently legit and solvent.
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This is how a Ponzi scheme functions. This will go on for around 3-4 months until one day that the site will just 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 got scammed.
We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website which we can state is secure to invest in. Any site that guarantees you something that is too good to be true is probably just 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 fair assumption about a sites legitimacy.
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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 fork 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 basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
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 keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but that could easily turn into a scam which runs away with you money. .
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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 often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can employ.
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 could possibly be the highest value for some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I would advise you to use these approaches 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 approach has its pros and cons, some are far more risky while others take a larger amount of work.
In order to make it easier for you to review what weve only covered we created a table that illustrates the different approaches (you can view on top of this post). As you can see theres no simple, risk free way to make money with Bitcoin. 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 make new income flows. .
You may still have any questions. If this is the case, just leave them in the comment section below. And when youve tried out one of the approaches above and want to share your own experience with it love to hear it also.
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Every single day, Bitcoin that the cryptocurrency and Bitcoin the technology i thought about this gets more popular. When in 2011 you had to compose a person from another continent to order a pizza for you with Bitcoins, now you can certainly do something like that in a number of important cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin city) now with a range of services available for people who are willing to pay with BTC.