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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or give you unreal interest rates.
What these websites really 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 site that is apparently untrue and solvent.
On top of this, they almost always have some kind of referral app so that users can bring their friends on board.
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This is how 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 lot of people may get mad that they have scammed.
We have reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a site which we can say is secure to invest in. Any website that promises 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 website is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get a reasonable assumption about a websites validity.
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 prior to 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can view our fork claiming guide .
Coinplants for Beginners
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 assert the coins for you and have a commission but this could easily turn into a scam which 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 usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can apply.
By way of instance, 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 your this post Bitcoins however they can be SUPER insecure. I would advise you to use these methods only after ample 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 pros and cons, some are more insecure while others require a greater amount of effort.
In order to make it much easier for you to review what weve just covered we made a table that illustrates the different approaches (you can view on top of the post). As you can see theres no simple, risk free way to make money with Bitcoin. The fantastic news is that it's possible, and if you put some effort into it you can find a lot of creative strategies to create new income flows. .
You might still have some questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your experience with it Id love to hear it also.
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