In the world of cryptocurrencies, it is not difficult to find in a community some people promoting a new currency or token. That is even more true when the promoter has a large following and we are one of them in their social media accounts.
Some only do it to publicize the project among people and others promote these new ventures for the simple fact of getting rewards. In this article we will focus on understanding what these are about and why they are so popular in ICOs.
Finally, we will close this post talking about the types of campaigns that exist to get rewards, and how anyone can get involved and win some.
What are Rewards in Cryptocurrency?
Bounties, how they are known in English, are the rewards in cryptocurrency we can get in the form of digital currencies or tokens. It is a type of payment offered by a project to someone in exchange for this to perform some type of task.
The term reward is widely used within the gaming sector and is designed to reward the user for reporting an error or participating in some way in the development of the game. In this case, incentives are paid through real money or with the currency that belongs to the ecosystem. It is essentially a reward mechanism offered by the company to its users in exchange for completing some activity for them. Let’s now look at the relationship with the world of cryptocurrencies and blockchain.
In the case of cryptocurrencies and blockchain applications, something similar happens, in which this method is used to protect the project from cyber attackers. For example, the Bitcoin site has a program of these that rewards users with BTC for finding a hacker’s whereabouts or recovering a stolen account.
In turn, large projects in the cryptocurrency space have programs related to marketing and for the purpose of promoting their idea. To these are added the reward programs aimed at finding errors and improving the software that are vital for success. The more they pay, the greater the motivation for someone to report the bug instead of using it for their benefit.
In this way they have shown to be very satisfactory as a strategy that not only benefits the users, but also the companies themselves. The latter get a very valuable service as we have seen, while at the same time users are rewarded in the native currency that they can then exchange for another such as Bitcoin or use an exchange to acquire fiat currencies.
There are mainly two types of rewards campaigns in ICOs. On the one hand those that are made before it and later.
The first aims to launch the project and therefore are focused on finding investors. Normally, they are rewards that focus on social networks and forums such as BitcoinTalk.
While the post-launch of the initial coin offer seeks to improve the project and grow its community. In this case it has to do with works on the project such as translations, error reporting and developments that are paid with the native currency.
How to Participate in one?
Rewards are one of the easiest ways to earn some bitcoins without having to invest anything but your time. If you are an influencer in social networks, youtuber, blogger or even an important member within the BitcoinTalk forum, finding rewards is quite simple.
For example, if we have a large Twitter or Facebook account, we can promote the ICO or the project there, something that John McAfee does very well. Those we obtain will depend exclusively on the number of people we reach with our publication and the level of interaction.
The same happens if we have a medium where we publish content such as a blog or a YouTube channel, since we can write an article or make a video in which we talk about the project.
One of the most popular is that of the BitcoinTalk forum signatures, being very simple and chosen by a large number of people. This is open to forum users and where ICOs provide a simple code. All you have to do is use it as a signature in our user’s profile. The more we interact in it and the more prestige we have, for having helped other people, the better.
Finally, we have the tasks that pay us to participate directly in the project. If we don’t have any programming skills, the best thing we can do is help translate it into different languages that we know, for example, into Spanish. But not only interfaces are necessary, there are also documents such as whitepaper, ads or even the marketing material that must be translated.
If we have development knowledge, the best we can do is report errors in software security or participate directly in the coding of the project. These rewards are usually larger than the previous one because of how critical the task is.
Where do you Find Reward Programs in Cryptocurrencies?
The right place to find such programs is in forums like BitcoinTalk.org. You only need to read all the offers there and choose the one that suits your needs. Once done it is necessary to complete the work and you will receive your reward.
You should keep in mind that in most of these payments are made once the ICO event is over and it is made with the token of it. Therefore, the value we obtain will depend exclusively on the success of the currency and how much we can exchange it later.
In case one of these ends up being a scam or fails, something that happens very often, we will not get a reward or the tokens will have no value. Added to the fact that when there is value for our task it can arrive after several weeks or months.This is a simple way to get cryptocurrencies in our free time. If you are a security expert and you find mistakes you can earn a lot of money, but you must be careful with certain projects that will not give you anything. So before getting in full with one it is best that you spend time to discover carefully in which to participate Visit this site.