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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 it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or provide you unreal interest rates.
What these sites actually do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the site that seems to be legit and solvent.
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This is how a Ponzi scheme works. This will go on for around 3-4 months until one day the website will just go offline and the money is going to be gone. No more payments will be produced and a great deal of people may get mad that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is secure to invest in. Any website that promises 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 if a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a websites validity.
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Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.
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 requires an above basic understanding of how Bitcoin works. You can view our fork claiming guide .
Keep 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 users it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and have a commission but that 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 used 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 may be the highest significance of time method you can use to make money from the Bitcoins but they can be SUPER insecure. I would recommend that you utilize these approaches only after ample research and a good understanding of the claiming process.
Weve covered a great deal of web 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 far more insecure while others take a greater amount of effort.
In order to make it easier for you to review exactly what weve only covered we created a table that illustrates the different approaches (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 good 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 this is the case, just leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your experience with it Id love to hear it as well.
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Each and every single day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you needed to write a person from the other continent to order a pizza for you with Bitcoins, now you can do something like this in a number of major cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services available for those who are willing to pay with BTC.