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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 particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or provide you unreal interest rates.
These sites actually do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the website which seems to be legit and solvent.
On top of this, they nearly always have some kind of referral program 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 that the website will only go offline and the money will be gone. No longer payments will be made and a lot of people may get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website which we can state is safe to invest in. Any site that guarantees you something that is too good to be true is probably only a facade for individuals trying to steal your coins. .
How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam test tool to get a fair 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 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 more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You can view our fork claiming guide .
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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 most non technical users it see would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you and have a commission but that may easily turn into a scam that runs off with you money. .
Once you maintained 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 which you get coins from thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
For 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 could possibly be the maximum value for some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods 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 approach has its pros and cons, some are far more insecure while others require a greater amount of effort.
In order to make it much easier for you to review exactly what weve only covered we created a table that illustrates the different approaches (you can see at the 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 make new income streams. .
You might still have any questions. If this is the case, just leave them in the comment section below. And if youve tried out one of these approaches above and want to discuss your own experience with it Id love to hear it also.
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