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Weve tested out several 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 provide you unreal interest rates.

What these websites 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 this, they almost always have some sort 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 the site will just go offline and the money will be gone. No more payments will be made and a lot of people will get mad that they have scammed.

We have reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a site that we can state is  safe to invest in. Any site that promises you something that is too good to be true is probably just a facade for individuals trying to steal your coins. .

How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a sites 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 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 fundamental understanding of the way Bitcoin works. You can see our fork claiming guide here.

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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 would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but this 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 alternative cryptocurrencies assuming it has a market.

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

By way of example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

Coinplants for Beginners

To conclude, forks and airdrops may be the highest significance of some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would advise you to utilize these methods only after ample research and a fantastic understanding of the claiming process.

Weve covered a lot of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each approach has its own pros and cons, some are 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 methods (you can see on top of the post). As you can see theres no easy, risk free way to generate money with Bitcoin. The good 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 may still have any questions. If so, simply leave them in the comment section below. And if youve tried out one of the methods above and want to discuss your experience with it love to hear it also.

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