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Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest prices.
These websites actually do is take money from new customers and use that money to pay off older users. This process makes a lot of buzz around the site that is apparently untrue and solvent.
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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 just go offline and the money is going to be gone. No more payments will be made and a great deal of people will get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can state is safe to invest in. Any website that promises you something that's 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 for yourself Easy, use 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 from the existing Bitcoin. Every person who held Bitcoin before 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 process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for many non technical users 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 have a commission but this could easily turn into a scam which runs off with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often 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.
By way of instance, 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 time method you can use to make money from the Bitcoins but they can be SUPER risky. I would advise you to 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 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 easier for you to review what weve just covered we created a table that illustrates the different methods (you can see on peak of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news site here 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 these approaches above and want to share your own experience with it Id love to hear it as well.
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Each and every single day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you had to write a person from the other continent to purchase a pizza for you with Bitcoins, now you can do something similar to that in a number of important cities. In certain countries such as the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often known as the Bitcoin city) now with a range of services available for those who are willing to pay with BTC.