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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest prices.
What these sites really do is take money from new users and use that money to pay off old users. This method creates a great deal of buzz around the site that seems to be untrue and solvent.
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This is how a Ponzi scheme works. This will go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No more payments will be made and a great deal of people may get angry that they got scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can state is safe to invest in. Any site that guarantees you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out if a website is a scam to get yourself Easy, use 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 emerges in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.
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 but requires an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide .
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 customers it'd 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 this may easily turn into a scam which runs away with you money. .
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Once you claimed a forkcoin you can check sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which 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 certain cases some conditions can employ.
For 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 highest value for some time method you can use to create money from your Bitcoins but they can be SUPER risky. I would advise you to utilize these methods only after ample research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or even earn money with cryptocurrencies. In the end each approach has its own pros and cons, some are more risky while others take a greater amount of effort.
In order to make it much easier for you to review what weve only covered we made a table which illustrates the different approaches (you can see at the top of this post). As you can see theres no easy, risk free way to make money with Bitcoin. The good news is that it is possible, and if you put some effort into it you can find a lot of creative ways to create new income streams. .
You might still have some questions. If so, just leave them in the comment section below. And if youve tried out one of these approaches previously and want to discuss your own experience with it Id love to hear it as well.
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Each and every day, Bitcoin that the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you needed to write a person from the other continent to order a pizza for you with Bitcoins, now you can do something like that in a number of major 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 available for those that are willing to pay with BTC.