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Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or provide you unreal interest prices.
These sites really do is take money from new users and use that money to pay off old users. This process makes a great deal of buzz around the website which is apparently legit and solvent.
On top of this, they almost always have some sort 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 will go on for around 3-4 months until one day the website will just go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site that we can say is secure to invest in. Any site that promises you something that is too good to be true is likely only 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 get a reasonable 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 originates 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 fork 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 the way Bitcoin works. You can view 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 most non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you and have a commission but that may easily turn into a scam which runs away with you money. .
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Once you maintained 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 utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can apply.
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 could possibly be the highest significance of time method you can use to make money from your Bitcoins but they can be SUPER risky. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or make money with cryptocurrencies. In the end each method 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 which illustrates the different approaches (you can see at the top of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The good news is that it's possible, and if you put some effort into it you can find a great deal of creative strategies to make new income 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 methods previously and want to discuss your experience with it Id love to hear it also.
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Every day, Bitcoin that the cryptocurrency and Bitcoin the technology becoming more popular. see post When in 2011 you needed to write a person from the other continent to order a pizza for you with Bitcoins, now you can certainly do something similar to that in a number of major cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often known as the Bitcoin town ) now with a range of services offered for those that are willing to pay with BTC.