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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 higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest rates.
What these sites really do is take money from new customers and use that money to pay off older users. This procedure makes a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they almost always have some kind of referral app so that users can bring their friends on board.
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This is how a Ponzi scheme works. This can go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No longer payments will be made and a lot of people may get angry that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is safe to invest in. Any website that promises you something that is too good to be true is likely only a facade for individuals trying to steal your coins. .
How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a fair 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide here.
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Bear 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 keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and have a commission but that may easily turn into a scam which runs off with you money. .
Once site link you claimed a forkcoin you can 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 out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general 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 may be the highest value for some time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each method has its pros and cons, some are far more risky while others require a greater amount of effort.
In order to make it much easier for you to review what weve just covered we created a table which illustrates the different methods (you can view on top of this 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 lot of creative ways to create new income streams. .
You may 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 share your own experience with it Id love to hear it also.
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