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Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High 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.
These sites really do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the site that seems to be untrue and solvent.
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This is the way a Ponzi scheme functions. This can 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 longer payments will be made and a great deal of people will get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site which we can say is secure to invest in. Any website that guarantees you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam evaluation 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 from the existing Bitcoin. Every person who held Bitcoin before 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 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.
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 maintain your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam which runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are similar to 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 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 value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I would advise you to utilize these methods only after considerable research and a good understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its pros and cons, some are far more risky while others take a greater amount of effort.
In order to make it easier for you to review exactly what weve just covered we made a table which illustrates the different approaches (you can see on peak of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a lot of creative ways 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 when youve tried out one of the methods above and want to discuss your experience with it Id love to hear it also.
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Each and every day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you had to write a person from another continent to order a pizza for you with Bitcoins, now you can do something similar to this in a number of major cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin city) now with a range of services offered for those right here who are willing to pay with BTC.