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Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method it is wise to 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 give you unreal interest rates.
What these sites actually do is take money from new customers and use that money to pay off older users. This method makes a lot of buzz around the site that seems to be untrue and solvent.
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This is how a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only 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've reviewed several Bitcoin investment sites in the previous 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 likely only a facade for individuals trying to steal your coins. .
How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites validity.
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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 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 demands 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 their website you could end up Visit Website losing your Bitcoins. So for most non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take 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 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 utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.
By way of 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 make money from your Bitcoins but they can be SUPER risky. I would advise you to use these methods only after considerable research and a fantastic 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 approach has its own pros and cons, some are far more risky while others take a greater amount of work.
In order to make it much easier for you to review exactly what weve just covered we created a table that illustrates the different approaches (you can see at the top of the post). As you can see theres no simple, risk free way to generate money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a great deal check my reference of creative strategies to create new income flows. .
You might still have any 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 own experience with it love to hear it as well.
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Each and every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from the other continent to order a pizza for you with Bitcoins, now you can do something like this in a number of major cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin city) now with a range of services available for those who are willing to pay with BTC.