If you are interested, you can learn what is the definition of crypto bounty. Bounty is the reward given to the one who catches the wanted person. In the crypto world, you can also find bounties or even become a professional crypto bounty hunter. Crypto bounty is also a way of earning crypto by just staying at home with a laptop.
What is the Definition of Crypto Bounty?
Bounties are rewards in tokens that a cryptocurrency/blockchain project gives away after a user successfully completes a certain task. The tasks can vary and we'll talk about them later in the post, so stay tuned.
Crypto bounties showed up on the stage as a marketing tool that helps startups to promote their projects. Since most tokens are based on the Ethereum platform, you'll need an active Ethereum wallet to receive your reward.
Bounties are often confused with airdrops, and many crypto enthusiasts have difficulties understanding the difference. Airdrops aren't the same as bounties.
What are Some Types of Crypto Bounties?
There are different types of bounties and bounty-related tasks. Here are the most common:
-Signature campaign
This type of task means that you add a signature to your account. This way, when you post a message on a topic that the bounty campaign asks you to post in, the signature becomes visible. Usually, a signature is posted on the BitcoinTalk forum , and you have to create several promotional posts there.
Rewards are based on membership level such as Junior, Senior, Hero, and Legendary Members.
-Blog post or video campaign
If you want to participate in this campaign, you'll have to write a blog post or create a video that's related to the company. To do this successfully, you'll have to read the company's white paper and get to know the project's details .
For example, Helios Protocol, an open-source community-driven project, is offering a bounty in the amount of 10.000 H. To receive the reward you have to write a positive blog post about Helios Protocol.
- Translation campaign
This is pretty much self-explanatory. In the case of a translation campaign, the company rewards you for translating its website, white paper, or some other content.
For instance, Texochat is a blockchain-based chat application. In July 2019. on BitcoinTalk, the company announced the bounty of 400 USD in TXO for translating its white paper.
-Twitter and Facebook campaigns
As the name says, with this campaign, you need to complete a social media related tasks. Since Facebook and Twitter are among the biggest social media platforms, tasks are usually related to them.
This can include anything from posting and re-sharing to liking content related to the project.
Just keep in mind that some bounty campaigns use TwitterAudit for checking your account for fake users, and they can require a minimum audit score.
Curio Invest, a blockchain-based platform for purchasing security tokens directly, allocated 40% of its bounty budget for Facebook and Twitter related tasks.
- Bug bounty
If you're tech-savvy and have developing skills, this type of bounty campaign can be lucrative. In short, to receive a reward you have to find a bug on the company's website, or their beta software/service.
Recently, The Libra Foundation, known for creating Facebook's cryptocurrency, announced that it launched a bug bounty program, calling for developers to submit bugs found in its blockchain.
The program includes rewards that scale up to a $10.000 payout.
Bottom Line
As you can see, bounties are pretty popular among crypto/blockchain startups. The tasks may be more challenging, but the earnings are also bigger. So, you should know what is the definition of crypto bounty.
