There are many terms crypto newbies will need to familiarise themselves with and one of such terms is ‘Bounty’. What really are bounties and what do they do in the cryptocurrency space? That is what we would be looking at today. The first thing that comes to mind when you hear the term ‘Bounty’ is a bounty hunter from an Wild Wild West movie. However, in the crypto world you are not hunting criminals to get bounties. Bounties refer to tasks or projects created by coin developers, at the completion of each task, you receive a reward in coin form. Most often, these tasks are not too complicated and are necessary for the success of the coin in question. A bounty program is an offer blockchain startups make to reward their users for performing various tasks to promote and improve their product.
Types of Bounties
There are different types of bounties you can participate in. The most popular ones include the following.
Forum Signature Bounties: This sort of bounty require little effort from bounty hunters and that makes them very popular. All the bounty hunter need is to belong to a crypto forum like BitcoinTalk which has the largest crypto membership. The forum attaches a code to its the forum user’s account this results in a little advertisement or message promoting the project automatically posted at the end of every forum post.
Video bounties: Bounty hunters are required to create video content and share them on video sharing platforms such as YouTube. Videos of high quality, original or creative content and videos that get a lot of views are highly rewarded by bounty programs.
Content Creation Bounties:
Some bounty programs require you curate contents. These written contents are posted on blogging platforms such as Steemit, Medium or Newbium or even on BitcoinTalk.
Very rarely, ICOs or crypto projects may need multilingual bounty hunters to translate materials into two or three languages. To get access to the bounty, Bounty hunters must be able to communicate in the native language and translate documents such as white papers ,websites, roadmaps, announcement posts and press releases.
Social Media Bounties:
This is the most popular and most sought-after form of bounty. Almost everyone has a social media account so, ICOs reward users for performing tasks such as getting the word out to the large population on social media. Tasks are usually as simple as reTweeting posts, displaying hashtags of the project For Twitter, users are usually required only to reTweet posts, or display hashtags in their Tweets or just liking the page.
What do you think about bounty hunting? Share your opinion with us in the comment section below.
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