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Weve tested out many loans 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 High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every few days or provide you unreal interest rates.
What these websites really do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
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This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day the website will only go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can state is safe to invest in. Any site that guarantees you something that is too good to be true is probably only a facade for scammers 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 get 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 emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin as well.
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 but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
Keep 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 would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but that may easily turn into a scam which runs off with you money. .
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Once you Recommended Site maintained 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 which you get coins out of 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 some cases 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 could possibly be the maximum value for some time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would advise you to use these approaches only after considerable research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others require a greater amount of effort.
In order to make it easier for you to review what weve only covered we created a table that illustrates the different approaches (you can view at the top of click over here this post). As you can see theres no simple, risk free way to generate 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 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 the approaches previously and want to share your own experience with it Id love to hear it also.
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Every single 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 purchase a pizza for you with Bitcoins, now you can do something like that in a number of important cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services offered for those that are willing to pay with BTC.