How To Become A Bitcoin Dealer for Beginners

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Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 claim to double your coins every few days or provide you unreal interest rates.

What these sites actually do is take money from new users and use that money to pay off older users. This method creates a lot of buzz around the website which seems to be legit and solvent.

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On top of this, they nearly 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 functions. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No longer payments will be produced and a great deal of people may get angry that they have scammed.

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

How can you find out whether a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a websites legitimacy.

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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 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 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.

Bear in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical customers it would better to pass on a fork and keep 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 that runs off with you money. .

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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 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 could possibly be the maximum value for some time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.

Weve covered a great deal of ways you can earn Bitcoin or even make money with cryptocurrencies. In the end each method has its pros and cons, some are more insecure while others take a greater amount of work.

In order to make it easier for you to review exactly what weve just covered we created a table which illustrates the different methods (you can view on top of this post). As you can see theres no simple, 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 ways to make 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 Id love to hear it as well.

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Each and every day, Bitcoin the cryptocurrency Bonuses and Bitcoin the technology gets more popular. When in 2011 you needed to compose a person from the other continent to purchase a pizza for you with Bitcoins, now you can do something similar to this in a number of major cities. In some countries like the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem, often called the Bitcoin town ) now with a range of services offered for those who are willing to pay with BTC.

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