Tokens means?

[Manchumichael]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

[CryptoGeneral]

They need the ETH adress to send you the token. It is probably an ERC20 token and is bound to the ETH blockchain. If you don't feel comfy accepting alts or token as payment you can always sign up for a BTC driven camapaign.

[DuarteFig]

Check out A beginner’s guide to Ethereum tokens.

Bounty campaigns are usually to promote a new token sale. That's why you get paid in tokens. After the ICO the token could be listed in an exchange, but there is no guarantee of what its value will be.

[makulo123]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

If you get paid in other tokens, that are currently being sold the ICO you are participating it, then that's actually a good thing. After the token will be listed on the exchanges then you can sell all of them and earn a profit (many times even better than a bounty in BTC)...

[klarki]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

If you get paid in other tokens, that are currently being sold the ICO you are participating it, then that's actually a good thing. After the token will be listed on the exchanges then you can sell all of them and earn a profit (many times even better than a bounty in BTC)...

[bustomi]

Token could mean coins, or it also mean something percisious and have some benefits for someone and it have some value so it can be more valuable in future too

[cdog]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

You can swap tokens in Exchangers that have been prepared by dev, If you are in doubt following a bounty campaign paid Token, You can join a bounty campaign that pays directly with Bitcoin.

[Manchumichael]

Thanks for your replies guys. What I understood means I will receive tokens from bounty campaign and once that tokens listed in exchanging site then I will convert tokens into another altcoin. Is it right? And the value of token will be diced once that token listed in exchange.

[charlescoin]

Thanks for your replies guys. What I understood means I will receive tokens from bounty campaign and once that tokens listed in exchanging site then I will convert tokens into another altcoin. Is it right? And the value of token will be diced once that token listed in exchange.

Once it goes on an exchange you can sell it for bitcoin. The campaign normally pays in ERC20 tokens which are tokens that go on your ethereum wallet. Be careful though because most exchanges have separate wallet addresses for ETH as they have for each of their tokens so do not give an exchange address to a bounty or ICO.

[Manchumichael]

Thanks for your replies guys. What I understood means I will receive tokens from bounty campaign and once that tokens listed in exchanging site then I will convert tokens into another altcoin. Is it right? And the value of token will be diced once that token listed in exchange.

Once it goes on an exchange you can sell it for bitcoin. The campaign normally pays in ERC20 tokens which are tokens that go on your ethereum wallet. Be careful though because most exchanges have separate wallet addresses for ETH as they have for each of their tokens so do not give an exchange address to a bounty or ICO.

I created my ETH address here https://www.myetherwallet.com is this ok?

[relest]

Thanks for your replies guys. What I understood means I will receive tokens from bounty campaign and once that tokens listed in exchanging site then I will convert tokens into another altcoin. Is it right? And the value of token will be diced once that token listed in exchange.

Once it goes on an exchange you can sell it for bitcoin. The campaign normally pays in ERC20 tokens which are tokens that go on your ethereum wallet. Be careful though because most exchanges have separate wallet addresses for ETH as they have for each of their tokens so do not give an exchange address to a bounty or ICO.

I created my ETH address here https://www.myetherwallet.com is this ok?

yes, it's ok, now you can join bounty campaigns

[sarul]

Thanks for your replies guys. What I understood means I will receive tokens from bounty campaign and once that tokens listed in exchanging site then I will convert tokens into another altcoin. Is it right? And the value of token will be diced once that token listed in exchange.

Once it goes on an exchange you can sell it for bitcoin. The campaign normally pays in ERC20 tokens which are tokens that go on your ethereum wallet. Be careful though because most exchanges have separate wallet addresses for ETH as they have for each of their tokens so do not give an exchange address to a bounty or ICO.

I created my ETH address here https://www.myetherwallet.com is this ok?

Exactly, you chose a great site and recommended wallet. Then don't forget to keep your private key safe, if someone known that private key your wallet might be in danger. He/She can access and steal your balance easily.

[CryptoCoin8487]

It depends on the bounty campaign that you are participate if you are joining the altcoin bounty campaign in ICO usualy they using tokens to pay you sometimes waves tokens or etherium tokens but if you are joining the bitcoin campaign they will pay you in bitcoins also usualy every week for me i prefer joining in altcoins because sometimes there is a good earning from it.

[hyunee]

Altcoin bounty campaigns uses tokens to pay or they eth or ethereum. Here in bitcoin they will pay you in bitcoin. It is a currency you gain in joining such campaigns. You can exchange it to your countrys currency or you can use it to buy online to those who accept cryptocurrency.

[chaser15]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

They are ETH address because the tokens are on ETH contracts therefore you can exchange it directly to ETH. Then in order to make it to fiat, you have to trade your ETH (came from trading tokens) to BTC then convert it to fiat and withdraw.

Tokens is the term used for rewards or vouchers that will be distributed. Of course it has name that's why I think you made a confusion.

[Butchick]

Token is being used in other campaigns, mostly found under altcoin campaigns, as a payment/reward being distributed after the campaign. But there is no need to worry since you can convert these tokens to bitcoin depending on the token that they gave you. On the other hand, they ask for an eth address because it will be thru that address that they will send the tokens.

[darthmaul]

Hello friends,

I have one doubt, In altcoin service section bounty campaigns will pay tokens instead of bitcoins. I don't know what is this meaning and how we can convert that tokens into fiat? And they will ask ETH address to send tokens why?

Advance thanks for your help.   

Token is bigger form of coins, meaning it could contain x amounts of coins in it associated with that ICO campaign.

For example, Monkeycapital is having 1 token of 10K coins. So if you buy a token you will have to pay for 10k coins altogether. (just an example BTW)

Token also represents the entity associated with it, so by knowing the token names you can tell which coin it is or services are provided with it. It is the medium of assuring investors that they are "official shareholders of the ICO in which they are investing"
Hope that helps you.

[yillusion]

you may treat token as altcoin, i think eth is token of ethereum too, you can convert token to btc on exchange then to fiat

[budiartha]

Token is being used in other campaigns, mostly found under altcoin campaigns, as a payment/reward being distributed after the campaign. But there is no need to worry since you can convert these tokens to bitcoin depending on the token that they gave you. On the other hand, they ask for an eth address because it will be thru that address that they will send the tokens.

Yes that's right, and usually the developer will inform you where the tokens can be redeemed, after entering the wallet then send the token to the exchanger to trade the token with altcoin, you want ordinary tokens exchanged to etherum coins or to bitcoins. 

[rayk]

First you have to have a wallet to receive tokens like my ether wallet or waves dex then add custom token and send your tokens to a exchange if available for your tokens when you receive your bounty after that you can exchange it.