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Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few days or provide you unreal interest rates.
What these sites actually 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 site that is apparently legit and solvent.
On top of this, they nearly always have some sort of referral program so that users can bring their friends on board.
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This is the way 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 will get angry that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site which we can state is secure 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 to get yourself Easy, use our Bitcoin scam evaluation tool to acquire 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 emerges in the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin as well.
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 however demands an above basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you and take a commission but that may easily turn into a scam that runs off with you money. .
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can apply.
By way of 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 maximum significance of time method you can use to make 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 lot of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its pros and cons, some are 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 created a table which illustrates the different approaches (you can view at the 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. Satoshi Every 5 Minutes And if youve tried out one of the methods previously and want to discuss your experience with it Id love to hear it as well.
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