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Weve tested out several loans 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 higher 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.
These sites actually do is take money from new customers and use that money to pay off old users. This method creates a great deal of buzz around the website which is apparently untrue and solvent.
On top of that, they nearly always have some type of referral program so that users can bring their friends on board.
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This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will only go offline and the money is going to be gone. No more payments will be made and a lot of people may get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a website that we can state is safe to invest in. Any website that guarantees you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .
How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure 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 here.
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 users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and have a commission but this could easily turn into a scam which runs away look at this website 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'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 situations some conditions can apply.
By way of example, Byteball was distributed publicly 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 can use to make money from your Bitcoins but they can be SUPER risky. I would recommend that you use these methods 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 earn money with cryptocurrencies. In the end each method more information has its pros and cons, some are more risky while others take a larger amount of effort.
In order to make it much easier for you to review what weve just covered we created a table which illustrates the different approaches (you can view on top of the post). As you can see theres no simple, risk free way to generate 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 ways to create new income flows. .
You might still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of these approaches above and want to share your own experience with it love to hear it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from the other continent to order a pizza for you with Bitcoins, now you can certainly 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 city) now with a range of services offered for those that are willing to pay with BTC.