Hello Guys,
I'm reading evrywhere that bounties and airdrops can be a great way to get coins and tokens, but it don't find a structred tutorial or explanation about it !
Anyone could explain me how it works please ? i will be so greatfull !!
THanks in advance
***WHAT ARE AIRDROPS AND BOUNTIES?
If you are new to the crypto world, you will find out that there are many terms you may not be familiar with almost immediately. It may take quite some time before getting a hang of all the technical terms that has to do with cryptocurrency. Two of those terms are “airdrops” and “bounties”. Although both terms are used in relation to cryptocurrency and possess some similarities, still they mean two different things that should not be mixed with each other. In this article, we will take a quick look at what they both mean, one after the other. We will also see how you can be a recipient of both.
***WHAT ARE AIRDROPS IN CRYPTO?
what are airdrops crypto
airdrops
Someone once said: “When I think of airdrop, I think about a military plane dropping supplies to troops”. As funny as that sounds, it simply depicts the whole idea of an airdrop. What are airdrops? Basically, an airdrop as used in the crypto sphere is when a blockchain project or a team of coin developers distribute free coins (tokens) to that project’s community.
An Airdrop can occur when someone wants to promote his new cryptocurrency, thus planning a controlled and periodic release of some coins to people that meet a specific set of requirements- e.g. user ranking and activity. This is opposed to an ICO where you actually have to buy those coins as part of your support for the cryptocurrency plan. But with airdrops, you simply do not get assigned to do any major task(s); you just have to meet certain requirements.
Of course, in any business venture, the idea should be to always make a profit. So what do developers get in return for giving out their newly developed coins for free? The main goal of such a program is to promote the new cryptocurrency to members of other cryptocurrency communities. It creates awareness for the coin in question, it’s ICO or token. It could lead to token price appreciation since people value a token they own higher than a token they don’t own.
The airdrop can be likened to a signature campaign in which the members of the community carries the signature over a period of time, during which many other communities may learn about the new coin and may be attracted to it. So as a reward for their effortless announcements, they get a free coin in return. Airdrops generally seem to be met with more support and less skepticism than ICO’s.
So if you are a member of a particular crypto community, how can you be a recipient of an airdrop? All you have to do is be an active member of the community then you will get the reward.
Some airdrop only requires you to supply proof that you are the owner of Bitcoins or Ethereums at a certain time (snapshot) of the blockchain. Other smaller airdrop will require just social media posts, or participation in a crypto forum like Bitcointalk or Reddit.
Another possible way to get rewarded under this scheme is a faucet. This means you get a small amount of free coins for a longer period of time. Some wallets, crypto casinos or crypto promotion sites run this type of airdrop.
Some critics have argued that the coins given out as airdrops are actually worthless. But consider this: Byteball is distributing airdrops to Bitcoin holders every month. The price of Byteball surged to over $900 per Byteball in middle of July 2017. OmiseGo gave away free OMG tokens to Ethereum Holders, the price of OMG tokens surged to $ 12 in September 2017.
So if you are a recipient of an airdrop, you can either hold the coins with the hope that its price will surge in the near future, or you can simply sell them to collect more Bitcoin and Ethereum.
***WHAT ARE BOUNTIES?
According to a local dictionary, a bounty is a “monetary reward offered to someone or an agency for finding a criminal or a wanted person”; it could also mean the “monetary reward for killing a person or a predator.” From that simple definition, we see that the whole idea is that someone gets a “reward” for performing some task(s).
What are bounties? Bounties are simply jobs, tasks, or projects that have usually been created by coin developers. If you complete the job, then you will receive a reward in coin form.
But you may be thinking that what sort of tasks will really be assigned, tasks that if completed will mean that you get some cryptocurrency in return? Will you be required to come up with some form of computer programming language? If it requires a computer programming skill, can an average person benefit from any offered bounties?
The good news is that the tasks are really never too complicated. They do not require any programming skills, in fact they are tasks that this cryptocurrency developers do not have time to do. These tasks basically revolve around getting the word about the cryptocurrency out, creating more awareness for it, and thus encouraging other members to get on board.
Some tasks that could be assigned may include promoting the coin on crypto forums or on social media. Examples of these crypto forums are Reddit and Bitcointalk. Some have also tried spreading the word on Quora.
Facebook and Twitter have emerged as the two most popular social media platforms in recent years. So, if you ever want to get a crypto bounty reward, you now know where to promote the coins. You may also want to try Instagram, as just displaying the coin logo and adding a short caption will do the job.
Other bounty tasks may also involve the actual design of the coin logo. Still, this task does not require any exceptional computer programming skill. It is something any average person that knows the basics of computer software can do.
As usual, the developers are willing to give the reward as long as it means that the simple tasks they created are executed.
***Airdrops and Bounties are really closely linked in that both involve getting a coin reward. But to earn that coin via airdrop, you do not get assigned any task(S). You only have to meet some effortless requirements. But with bounties, you must execute an assigned task before getting the crypto reward.
