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Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or give you unreal interest rates.

What these websites actually 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 legit 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 the way 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 will be gone. No longer payments will be produced and a great deal of people will get mad that they have scammed.

We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website that we can say is  safe to invest in. Any website that promises you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .

How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin before the fork can now also 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 however demands an above fundamental understanding of the way Bitcoin works. You can see 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 that assert the coins for you and have a commission but that could 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 alternative cryptocurrencies assuming it has a market.

Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.

For 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 Learn More Here significance of time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd advise you to use these approaches only after considerable research and a good understanding of the claiming process.

Weve covered a lot of ways you can earn Bitcoin or even earn money with cryptocurrencies. In the end each method has its own pros and cons, some are far more risky while others require a larger amount of effort.

In order to make it easier for you to review exactly what weve only covered we created a table which illustrates the different methods (you can see on top of this 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 when youve tried out one of these approaches above and want to discuss your experience with it love to hear it also.

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