Cryptocurrency is rewriting the story of the financial institutions especially the banking sector. This is because of the ease of operation, negligible transaction fees (some times it could be zero) and other factors such as delayed or failed transactions.
Unlike the traditional banking system, transacting with crypto takes as much as 5 minutes and as little as 1.5 seconds for a transaction to be successful. Also, both parties can verify the status of the transaction at any given time.
This wouldn’t be possible without the underlying technology, the Blockchain technology and it’s security algorithm, cryptography.
Initially investing in cryptocurrency is something that requires huge capital but as the industry expands, it has been quite cheap to get into the train with as little as $1 and still make a significant level of profit within a given timeframe.
It is also worth saying that crypto currencies have their own risks so no matter how small your investment capital is, you should protect it with all jealousy.
Even if you do not have any capital to invest in, you can still profit from crypto currency through what we call airdrop and or bounties.
What is an Airdrop in Cryptocurrency
An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.
You only qualify to receive airdrop rewards if you complete the airdrop tasks. The tasks often include; following their Twitter account, joining their telegram group and channel, retweeting certain tweet, sometimes subscribing to their YouTube channel and any other task they may feel necessary to include.
Note: not every airdrop is legit. Some only want to use airdrop to grow their social media accounts issuing fake or scam tokens. Always check back on this blog to read more about legit and scam crypto projects.
Some airdrops can pay you up to $500 dollars for signing up and you can earn up to $1000 to $3000 for referrals. This is a cool way to earn in the crypto space without any financial investment.
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What is a Bounty in Cryptocurrency
In the context of cryptocurrencies, a bounty program is a marketing strategy used by startups during their initial coin offering (ICO) campaigns. It allows them to allocate a certain percentage of their coin’s supply to promote their project. According to Binance Academy
Typically, bounty programs target the cryptocurrency community, and they usually include the following activities:
Social Media Campaigns – These aim to raise awareness of the ICO project using the social media accounts of participants. The events can be in the form of likes, reposts, shares, views, and comments on popular platforms such as Twitter, Facebook, Youtube, WhatsApp, WeChat, and Telegram.
Content Creation Campaigns – These target bloggers, writers, video content creators, and enthusiasts, encouraging them to create articles, blog posts, or videos. Then, the content can be distributed across social networks and platforms to increase awareness of the ICO. Usually, the rewards will be dependent on the impact or engagement level of the created content.
Bitcointalk Signature Campaigns – These are open to members of the Bitcointalk forum. They need simply to add the official ICO signature to their profiles. The number of stakes received depends on the ranking of the participants. Usually, only the members who have a Jr. Member rank or above on this forum can participate in such events.
Translation Campaigns – This bounty consists of translating important documents related to the project in order to ensure global outreach. This commonly includes the ICO Whitepaper, the official website, and the Bitcointalk ANN thread.
Bug Reporting Campaigns – The purpose of this bounty is to incentivize developers and security researchers to report potential bugs and vulnerabilities on software and blockchain infrastructures. The value of the rewards depends on the severity and the interest of the identified bugs.
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