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What You Need to Know About Crypto Bounties

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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.

Translation bounties:

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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The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Cryptocurrency Mining Rigs Still in High Demand in South Africa Amidst Market Uncertainty

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As the cryptocurrency market continues to experience price upheavals, the acquisition of mining rigs is however on the increase in South Africa according to Bitmart CEO Jacques Serfontein. This mining craze has been attributed to the huge return on investment (ROI) accompanying mining.
Cryptocurrency mining promises cryptos as reward for closing a block. Through mining, the sanctity of blockchain transactions are verified. Transactions on blockchain networks create blocks, these blocks are closed when a unique solution to complex mathematical equations generated by the network is found. A mining rig is a computer system employed for the purpose of mining (solving these equations), with each block closed, the miners receives a bitcoin (for example).
Serfontein explained, “People are still buying miners, a 7-30% ROI per month based on the different cryptocurrencies out there is still a great ROI.”
On the cryptocurrencies mined, he was quoted as saying:
“The focus is off Bitcoin for now due to the low price, but the income in some other miners is very good.”

ASIC Miners taking over market
Application Specific Integrated Circuit (ASIC) is now the in-thing because of obvious advantages over Graphic Processing Unit (GPU) rigs.
“ASIC miners are for sure the most popular, we clearly see that ASIC miner sales outperform GPU rig sales by over 200 to one, but it’s all dependent on what miners can mine and what is most profitable,” said Serfontein.
ASIC miners are specifically developed for cryptocurrency mining, and have a better ROI than GPU as long as the cryptocurrency is ASIC compatible.
“Look at what happened to Ethereum. The Antminer E3 replaced the GPU rigs mining Ethereum thanks to its lower cost, much lower power consumption, and a far better hashrate – it’s a no-brainer.”
This is not to write-off GPU rigs because the creation of a new coin that suites the GPU-algorithm, and equally as profitable could see the re-emergence of GPU rigs minng. Before that happens, South African PC gamers are still heaving a sigh of relief as GPUs become less popular to miners.
Bitmart CEO Says the company deals on a wide variety of miners in South Africa, including many that deliver good returns. Bitmart eschewed cloud mining for rigging.
“Owning a rig makes a lot more profit than could mining and clients keep comparing earnings with online calculators that don’t factor in hosting costs, so it was a hard sell,” he was quoted as saying.

 

 

What do you think about the high sells of mining rigs? Share your opinion with us in the comment section below.

 

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Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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When I Die, Who Gets My Digital Assets?

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Mortality is a topic most people would rather not talk about. But then, it’s a nagging topic that must be trashed out. Who gets access to all your digital access after your death? Would your family be able to gain access to your bitcoins, Facebook, email, twitter, online bank account and the likes. When it comes to digital currencies, they exist basically in virtual form and are extremely secure. For bitcoin, every owner has a private key or password, that allows them gain secure access to the bitcoins stored in their digital wallet. However, there is no method of retrieving this private key after death so a potential heir can get access to the bitcoins because there is no way to track the private keys as there is no central authority.

What this means is that if you kick the bucket without leaving your private key, your bitcoins becomes inaccessible to anyone. If nobody gains access to your bitcoin, it becomes lost. So, the question remains how do I ensure that my cryptocurrency is properly passed on?

  • Ensure your heirs are aware that you own crypto and you can either trust them either with your private key while you are still alive or write it down on a piece of paper or store the private key in a secure location such as a safety deposit box or even a flash drive.
  • You could set up a time locked transaction that could take place in a number of years. However your heirs must have the corresponding receiver address to receive the bitcoin on the said date. However, this is a bit risky as the bitcoin would transfer to the receiver whether you are dead or not.
  • You can also utilise third parties like Coinbase which offers joint accounts. This would allow your heirs gain access to your bitcoin smoothly.

However, despite trying to ensure that your loved ones gain access to your crypto when you cross over to the great beyond, you should be aware of the risks also. By making your wishes known, an unscrupulous entity might walk away with the bitcoin if they get access to the private key. Also, you should seek professional help as the laws concerning inheritance of digital assets varies.
The United States have laws enacted by most states from 2015 which gives people the power to plan for the management and disposition of their digital assets just as tangible assets. However, countries like Australia do not have laws that directly addresses the access of a person’s digital assets upon death by his/her family. Equally, countries like South Africa, Kenya and Nigeria do not possess such laws yet.

 

 

 

What do you think about including your bitcoin private key in your will? Share your opinion with us in the comment section below.
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Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

 

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Crypto Personality: Elisha Owusu Akyaw, Ghana’s Crypto Brain Boy

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Africa is a big market for Ideas and cryptocurrency and the blockchain technology seems to be a breeding ground for ideas.  This was the ground Ghana’s 17-year-old Elisha Owusu Akyaw found himself. While most people were coming to terms with what cryptocurrency was about, Elisha already had a tech enabled company. He is the founder of BlockXAfrica, which was formerly known as Tokens Media, a small business he established in 2017.

Starting Small any Growing Big

Elijah is giving a new face to entrepreneurship in Ghana. While studying General Arts at Legon Presbyterian Boys Secondary School, he goes ahead to set up his firm a crypto based firm. The aim was to lend a hand to blockchain projects and help them get to their target audience. His startup’s marketing services has worked with local financial firms in project development and has raised more than $40 Million in token sales.

Before becoming the crypto- guru that he is recognised as, Elisha was just an ordinary student. Until late 2014 when he had his first encounter with digital currency on a news item on Aljazeera. From that News piece, he began to investigate the intricacies of cryptocurrencies with the internet-enabled device he got at age 12. He learned by watching videos on YouTube and by 2013, he had ventured into the crypto space. He equally ventured into web design fundamentals and was exposed to Firefox by Mozilla, which led to his volunteering in his local community. He began to share his knowledge on the internet and was opportuned to speak at the Software Freedom Day in Accra in 2015. This platform was leveraged on and Elisha started speaking about cryptocurrency creating a name for himself in the field.

Elisha’s initial company Tokens Media was focused on providing services primarily in ICO marketing, public relations, and social media management.  Although the company began operations in June 2017, it has worked clients such as Komodo, Local World Forwarder, PIVX, and SmartCash. The firm has provided services and worked with cryptocurrencies that has a combined market cap of over $1 billion. While Elisha agrees that there has been challenges on his journey, he is focusing his time on his business and continuing his education.

 



 

What do you think about Elisha Owusu Akyaw? Share your opinion with us in the comment section below.
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Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Ditcoin is Driving Crypto Adoption in Africa

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Ditcoin is placing its mark on the African continent. The cryptocurrency which revealed its new CEO early last month has been working hard to educate Africans about the importance of cryptocurrency. Ditcoin has also been busy trying to make the cryptocurrency available to its users.

The cryptocurrency announced late in June that it would now be listed on some indexes and cryptocurrency exchanges. The cryptocurrency will be listed on WorldCoinIndex, Exrates and Coinlib. This would help its users gain access to the digital currency easily as well as aid new users in purchasing the cryptocurrency.

Asides getting listed on new exchanges, the cryptocurrency spent the month of July upgrading its management. From the announcement that Ditcoin now has a new CEO, Tony Emeka to the announcement of a PRO, Mrs Brooke Miller. The digital currency aims to ensure that the cryptocurrency drives adoption in the African continent and the world beyond.

To achieve the aim of driving adoption, the CEO of Ditcoin is currently touring  Nigeria and educating people on crypto currencies. Sometime in July, Mr Tony was in the Northern states of Kano and Katstina. While in Katstina, he was at a cryptocurrency event on the 25th of July that was tagged “Awareness on the Blockchain Technology, Cryptocurrency and Ditcoin.”  The event which was endorsed by the Prince of Katsina, gave Ditcoin the opportunity to raise grassroots awareness. Educating the people about cryptocurrencies and the importance of privacy in transactions. Ditcoin is becoming a driving force in the African cryptocurrency space and we look forward to seeing it in massive use. 

 

 

What do you think about Ditcoin? Share your opinion with us in the comment section below.
Image credit: pixabay,

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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