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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of days or provide you unreal interest prices.
These sites really do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the site that seems to be legit and solvent.
On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.
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This is how a Ponzi scheme functions. This can 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 lot of people may get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site that we can say is safe to invest in. Any website that promises you something that is too good to be true is probably only a facade for individuals trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites legitimacy.
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 branch 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 how Bitcoin works. You can see our fork claiming guide here.
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Bear 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 users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim 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's a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can employ.
By way of instance, Byteball was distributed publicly 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 create money from your Bitcoins however they can be SUPER risky. I'd advise you to utilize these methods only after ample research and a good 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 method has its pros and cons, some are more risky a knockout post while others take a greater amount of work.
In order to make it much easier for you to review exactly what weve only covered we made a table which illustrates the different methods (you can view at the peak of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a great deal 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 these methods above and want to discuss your own experience with it Id love to hear it as well.
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