Tokens means?

[gribble]

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.   

Actually the token is the altcoin in still the projects of team developers, the investors can gives contribution with send the coins (ETH) usually the token be sold on ethereum's blockchain with smart contract fetures include the distribution  the token on ethereum's smart contract too, that is why they need your ETH address for send the token. You can sell the token on exchangers that accept it to be traded on there.

[andycarrol]

token = altcoin

to convert it so much market for Exchange altcoin and a some of the token exist that use the platform of ETH and WAVES, so if they ask address eth, it means they used the platform of eth.

[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?

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.

I secured my private keys keep and not share with any one. Thank you.

[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.   

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.

I can exchange that tokens only when that tokens listed in exchange site or else it is not possible right?

 

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.

Thanks it helps me lot.

[Shahin320]

Token is a one kind of term who used for rewards that will be distributed. It is bigger form of coins, meaning it could contain x amounts of coins in it associated with that ICO campaign.

[Manchumichael]

Token is a one kind of term who used for rewards that will be distributed. It is bigger form of coins, meaning it could contain x amounts of coins in it associated with that ICO campaign.

I understood what tokens are? Now I have one more doubt what is stakes means some bounty campaigns will pay ten stakes and 20 stakes what it means?

[PANK21]

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.  

Basically if you joined in a signature campaign such as bounties.etc. you will get  tokens as a reward but also it depends on the rules. They will ask for eth address to know where are they going to give your reward tokens and you can convert into eth or exhange it.

[Ahimoth]

Token is a one kind of term who used for rewards that will be distributed. It is bigger form of coins, meaning it could contain x amounts of coins in it associated with that ICO campaign.

I understood what tokens are? Now I have one more doubt what is stakes means some bounty campaigns will pay ten stakes and 20 stakes what it means?

Well for me stakes are like reward that you get for completing their required post or for obeying their rules. At the end of every week the campaign manager check if you completed the tasks or posts then reward you a stake. Giving stakes depends on what rank are you. So the higher your rank the higher the stakes you get.

[Haesoo]

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.

I secured my private keys keep and not share with any one. Thank you.

And just don't click right away when you see links of myetherwallet as these links can be a phishing site that once you click it and you put your private keys their computer automatically copied your private keys and they can hack your account. Better yet to bookmarked your mew for safety.

[Vasilije69]

Tokens are coins which you get for participating in Bounty Campaign. They have determined value and you will be able to sell them on exchanges or keep it for some time until its value grows...