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Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from 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 few days or give you unreal interest rates.
What these sites really do is take money from new users and use that money to pay off old users. This procedure creates a lot of buzz around the website which seems to be untrue and solvent.
On top of this, they almost always have some sort of referral app so that users can bring their friends on board.
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This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be made and a great deal of people may get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site which we can say is safe to invest in. Any site that promises you something that's too good to be true is likely only a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, utilize 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 emerges from the existing Bitcoin. Every person who held Bitcoin before 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 more. The process 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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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 customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you and take a commission but this could easily turn into a scam which runs away with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense 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 public, although in some 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 may be the maximum value for great post to read time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its pros and cons, some are far more risky while others require a larger amount of effort.
In order to make it much easier for you to review exactly what weve just covered we made a table that illustrates the different approaches (you can see at the peak of the post). As you can see theres why not try this out 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 right here it you can find a lot of creative strategies to make new income flows. .
You may still have any questions. If so, just leave them in the comment section below. And when youve tried out one of the approaches previously and want to share your experience with it love to hear it also.
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