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?
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?
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?
You can participate without owning any BTC or alts. All that you need is an address (often ETH) to which rewards can be sent. Airdrops and bounties are basically the team behind a new coin seeking someone to advertise their product. For bounties in particular there will generally be some minimum criterion to ensure the coin gets sufficient publicity, e.g. a certain minimum rank on here for sig campaign, or x number of followers for a twitter campaign, plus you then need to make a certain number of posts per week.
As for scams - some airdrops want KYC information, so it is easy for scammers to pick up valuable personal details with a fake airdrop, also sometimes a coin fails to hit softcap, which means the project can't go ahead, so bounties/airdrops become worthless - not a scam as such, just an unfortunate outcome.