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Weve tested out several loans here 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 promise to double your coins every few days or provide you unreal interest prices.
What these sites actually do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.
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This is how a Ponzi scheme works. This will go on for around 3-4 months until one day the website will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people will get mad that they got scammed.
We've reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can state is secure to invest in. Any site that guarantees you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to get a fair assumption about a websites validity.
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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 fork 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 demands an above basic understanding of how 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 would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and take a commission but that 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 that you get coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations 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 highest value for time method you can use to create money from your Bitcoins but they can be SUPER risky. I would advise you to use these methods only after ample research and a good understanding of the claiming process.
Weve covered a lot of ways in which 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 require a larger amount of work.
In order to make it much easier for you to review what weve only covered we created a table that illustrates the different approaches (you can see at the peak of this post). As you can see theres no easy, risk free way to make money with Bitcoin. The fantastic news is that it is possible, and if you put some effort into it you can find a lot of How To Become A Bitcoin Dealer creative ways to make new income flows. .
You might still have any questions. If this is the case, simply leave them in the comment section below. And if youve tried out one of the approaches above and want to share your experience with it Id love to hear it also.
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Each and every single day, Bitcoin that the cryptocurrency and Bitcoin the technology gets more popular. When in 2011 you needed to write a person from another continent to purchase a pizza for you with Bitcoins, now you can do something like that in a number of important cities. In certain countries like the Netherlands, the entire towns are Bitcoin-friendly (like Arnhem, often called the Bitcoin city) now with a range of services available for those that are willing to pay with BTC.