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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 higher Yield Investment Programs also known as HYIPs. These are sites that promise 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 old users. This procedure creates a lot of buzz around the website which seems to be untrue and solvent.
On top of this, they nearly always have some kind of referral program so that consumers can bring their friends on board.
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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 site will only go offline and the money will be gone. No longer payments will be produced and a lot of people will get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a website that we can say is secure to invest in. Any site that guarantees you something that's 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 for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a websites validity.
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 process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep 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 maintain your Bitcoins secure. see this page Other alternatives include companies which assert the coins for you personally and take a commission but that may easily turn into a scam that runs off with you money. .
Once you maintained 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 that you get coins from thin air. Airdrops are usually utilized 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 could possibly be the maximum value for some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would advise you to use these approaches only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its pros and cons, some are more insecure while others take a greater amount of work.
In order to make it easier for you to review what weve just covered we made a table that Check This Out illustrates the different methods (you can see on top of the post). As you can see theres no easy, 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 strategies to create new income informative post streams. .
You may still have any questions. If this is the case, just leave them in the comment section below. And if youve tried out one of the approaches above and want to discuss your own experience with it love to hear it as well.
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