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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or provide you unreal interest prices.
What these sites really do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the website which seems to be untrue 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 works. This can go on for around 3-4 months until one day that the website will just go offline and the money is going to be gone. No longer payments will be produced and a lot of people will get mad that they got scammed.
We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is secure to invest in. Any website that guarantees 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 whether a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.
The first popular fork 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 fundamental understanding of the way Bitcoin works. You can view our fork claiming guide here.
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many 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 could easily turn into a scam which runs away with you money. .
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 that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.
For example, Byteball was distributed freely 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 value for time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.
Weve covered a great deal of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its pros and cons, some are far more risky while others require a greater amount of work.
In order to make it much easier for you to review exactly what weve just covered we made a table which illustrates the different approaches (you can view on peak of the post). As you can see theres no easy, risk free way to generate money with Bitcoin. The good news is Multiplier Your Bitcoins that it is possible, and if you put some effort into it you can find a great deal of creative strategies to create new income streams. .
You may still have some questions. If so, just leave them in the comment section below. And when youve tried out one of the methods previously and want to share your experience with it Id love to hear it also.
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