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Weve tested out many loans 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 that claim 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 older users. This method creates a lot of buzz around the website which is apparently untrue and solvent.
On top of this, they almost always have some type 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 site 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 have reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website that we can say is safe to invest in. Any website that guarantees you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .
How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a reasonable assumption about a websites 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 before 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 more. The procedure for claiming forked coins (aka forkcoins) is standard however 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 secure. Other alternatives include companies which assert the coins for you and take a commission but that may easily turn into a scam that runs off 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 that you get coins out of thin air. Airdrops are often utilized to spread the word about 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 freely to Bitcoin users depending on the amount of this article Bitcoins they owned.
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To conclude, forks and airdrops could possibly be the highest value for time method you can use to create money from the Bitcoins but they can be SUPER risky. I would advise you to utilize these methods only after ample research and a good 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 method has its pros and cons, some are more insecure while others require a larger amount of effort.
In order to make it easier for you to review exactly what weve only covered we made 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 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 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 discuss your own experience with it love to hear it also.
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Every single day, Bitcoin the cryptocurrency and Bitcoin the technology becoming more popular. When in 2011 you had to write a person from another continent to purchase a pizza for you with Bitcoins, now you can do something like this in a number of important cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often known as the Bitcoin town ) now with a range of services available for those who are willing to pay with BTC.