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Weve tested out several loans 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 higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or provide you unreal interest prices.
These sites actually do is take money from new customers and use that money to pay off old users. This procedure makes a lot of buzz around the site that 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 works. This can go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site that we can say is secure to invest in. Any website 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 whether a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation 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 emerges in 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 much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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Bear 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 claim 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 similar to forks in the sense which you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain 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 may be the highest significance of some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after ample research and a good understanding of the claiming process.
Weve covered a great deal of ways in which you can earn Bitcoin or make money with cryptocurrencies. In the end each approach has its own pros and cons, some are far more insecure 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 which illustrates the different approaches (you can view at the top of the post). As you can see theres no easy, risk free way to make money with Bitcoin. The good news is that it is possible, and if you put some effort into it you can find a lot of creative strategies to create new income streams. .
You may still have any questions. If this is the case, just leave them in the comment section below. And when youve tried out one of the approaches above and want to discuss your own experience with it love to hear it also.
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