What is Bounty in cryptocurrency?
In the world of cryptocurrency, there are many terms and phrases which are not easy to understand. When you read about bounties, it may seem that you are searching for some treasure. But when you start searching for them, you will learn about them.
During the initial coin release (ICO), every new cryptocurrency project needs marketing to sell their coins. Most of them do their marketing either through agency/in-house marketing or a bounty program. Bounty is a marketing event of ICO projects to promote the project in crypto communities. The best thing about bounty is that it does not require any initial fund and the payment made for Bounty Program is in tokens at the end of Token Sale.
Bounties are tasks, activities, jobs, or projects that coin developers develop for you. There are some specified rules that everyone has to follow, and it provides details about payment and all. Generally, crypto Influencers and freelancers participate in the Bounty Program and do the activities accordingly. Bounty also helps the project to receive an extra response from the investors.
It’s not that the tasks are very complicated or it involves any computer programming. These are not also the task of developers but necessary for the success of the coin they generated. So they delegate the task to other people, and on the successful completion of the task, they reward them with their own created coins. Anyone, non-tech or tech-savvy people can utilize their spare time by doing these tasks. For example, it may include bounties that require promoting the new coin on twitter or designing a logo for that coin. There is much more fun in doing these tasks.
Is working for Bounty and get paid in the token is good?
You may be a non-technical or a tech-savvy person, and there are numerous tasks available to work on and earn money. These tasks can be even done by people who have a few minutes every day besides those who can dedicate hours per day. If you are a crypto enthusiast, then you can monetize your knowledge and passion easily and make money.
But keep this in mind that you get the payment only if their ICO is a success as they offer cryptocurrency for successful promotion. Therefore, choose projects where the chance of success is high.
How to earn from bounty?
Bounty program offers a good number of tasks. If you want to make money (cryptocurrency) that is convertible to fiat, or you want to use it to tread, hold or pay for stuff, you can hunt for bounty. Depending on their requirements you can join single, multiple or all tasks available from a bounty program. Here are the tasks:
1. Creating content-posting and writing videos/article
In this case, you need to write an article of around 500 words after reading the project details. Research their market, share your original and unique point of view and analyze with pros and cons.
2. Promotion on social media
It includes posting content related to the ICO, re-sharing and liking it on Facebook, Twitter, Reddit or LinkedIn.
3. Sharing content on telegram group
If you have your own telegram groups related to business, crypto or ICOs, this is for you.
4. Profile on Bitcointalk
Bitcointalk is a forum as well as the leading platform that announces new crypto projects and bounty programs. But you get access only if you have a Bitcointalk profile with some authority. For authority, you have to post valuable content.
5. Translating whitepaper, website, announcement on Bitcointalk and/or bounty thread
Usually, this bounty has the highest payout, but there is a list of languages they accept.
6. Reporting bug
This program is about identifying and reporting bugs on the website and in their beta software/service. For any tech guy, this can be interesting and rewarding as well.
7. Bounties for developers
These are technical tasks, and these campaigns are posted on a couple of platforms.
If you recommend your friends or a dedicated follower’s base that will buy coins on ICOs, you will get a share.
9. Other small tasks
These include following social media accounts of the project, joining or being active on Telegram
Another thing you need to do is increase your presence on social media. You have to interact with other influencers and build relationships with them.
Remember you earn a reward based on your task if the ICO is a success, i.e. when the ICO reaches the soft cap (minimum investment needed for the project to start).
How to choose ICOs with good success rate?
There are certain things you need to do to choose ICOs with good success rate. They are:
• Check every detail of their team members.
• Check their websites thoroughly, also their whitepapers and markets.
• Try to judge their promises
• Find the number of followers they have on social media and the engagement.
What are top bounty websites?
Bounty gives excellent opportunity to make extra money (Tokens) from social media work (FB posts, FB shares, YouTube videos, Twitter retweets, and tweets and Reddit), blog articles/posts, signatures, etc. You can find new and good bounties from the sites and forums such as –
How much can a person earn from bounty?
Nowadays the profession of bounty hunting has campaigned on television widely. Here the question is what the scope of earning is? How much a person can earn from bounty depends on the number of cases they take per year and the percentage of those cases that result in returning the suspect to the justice system. For example, if a bounty hunter takes on 100 to 150 cases per year, the average salary is in the range of $50,000 to $80,000. So you can easily calculate the payout for each case. As a bounty hunter resolves more and more cases, the overall value becomes higher in each case, and they earn more.
Most programs pay with their tokens, and most tokens are based on Ethereum platform. You will need an Ethereum wallet or use their Microsoft wallet or any other wallet that supports Ethereum tokens.
The most popular ICO Bounty programs in 2018:
1. HashGains ICO
3. PayPro ICO
4. Dimensions Network
6. Cube Token Sale
7. ClearCoin ICO
To conclude, identify your unique abilities, do research and select the bounty programs accordingly. Your marketing preferences will also matter.