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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 particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or provide you unreal interest prices.
What these sites actually do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the site that is apparently untrue and solvent.
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This is the way a Ponzi scheme works. 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 longer payments will be made and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site which we can say is secure to invest in. Any site that guarantees 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 site is a scam for yourself Easy, utilize our Bitcoin scam test tool to get 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 also 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 fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you and have a commission but this may easily turn into a scam that runs off 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 much like forks in the sense which you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
For instance, 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 significance of 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 ample research and a fantastic understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure while others require a larger amount of effort.
In order to make it easier for you to review what weve just covered we made a table which illustrates the different approaches (you can see on peak of this 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 great deal of creative strategies to create new income streams. .
You may still have some questions. If official statement so, just leave them in the comment section below. And if youve tried out one of the approaches above and want to share your experience with it love to hear it also.
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Every single day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you had to compose a person from the other continent to purchase a pizza for you with Bitcoins, now you can do something similar to this in a number of major cities. In some 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 that are willing to pay with BTC.