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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every couple of days or provide you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off old users. This process makes a lot of buzz around the website which seems to be legit and solvent.
On top of this, they almost always have some sort of referral app so that consumers can bring their friends on board.
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This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No longer payments will be produced and a great deal of people may get mad that they got scammed.
We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site which we can state 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 if a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get 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 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 the way Bitcoin works. You best site 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 customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which claim the go to the website coins for you and have a commission but this could 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 much like forks in the sense that 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 cases some conditions can apply.
For instance, home Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
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To conclude, forks and airdrops may be the highest significance of some time method you can use to create money from the Bitcoins however they can be SUPER risky. I would advise you to utilize these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a lot of ways in which you can earn Bitcoin or earn money with cryptocurrencies. In the end each method has its pros and cons, some are more risky while others require a greater amount of effort.
In order to make it easier for you to review what weve only covered we created a table which illustrates the different approaches (you can see on peak of the post). As you can see theres no simple, 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 great deal of creative strategies to make 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 the approaches previously and want to share your experience with it Id love to hear it also.
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Every day, Bitcoin the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to compose a person from another 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 (such as Arnhem, often called the Bitcoin town ) now with a range of services offered for people who are willing to pay with BTC.