So i heard a lot about these terms but confused exactly what these mean. So basically if you own any btc or any altcoin, you could participate in these? So basically it requires very little money or does it require no money at all for something like this. I read about how ppl do certain things like post links on facebook and social media etc and then they get rewarded or something like that? So basically you could do this for income or side income?
You are already a Full Member, I think you should have a fair idea on how bounty works. But assuming you haven't join a campaign yet, first you don't need to own bitcoin or altcoin before you can join them. In fact, you can earn free bitcoin and altcoins if you participate in a bounty. Yes, others treat it as side income like me, but majority of "bounty whores" look at it as a job.
I also heard how when people receive an airdrop or another term, they immediately sell it for btc. Can someone explain this process as basic as possible?
Not really. You can hold on a tokens for as long as you what. But hunters, do usually sell them to get their rewards.
So if someone has free time or doing nothing, they could make money while on the computer with this? But how much money could one even expect to make if say they could do this 20 hours a week vs say 40 hours a week? The other thing i heard is if you do this, you could get scammed? How exactly you get scammed? They send you airdrop but its to your wallet and then your wallet get hacked?
Depends. If you are a higher rank then definitely you can get more as compare to Jnr Members. That's why a lot of members here are trying to cheat the system but having multiple accounts so that they can earn even more. Well, if you don't know how to protect your account then definitely you will get your wallet hacked. As for airdrops, there are "supposedly projects" who asked for your private keys before they will send you the airdrops. There are people who are gullible enough to send their private keys. So they get hacked because private keys are supposed to be "private" and not to be shared to others specially people you don't know.