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 lot of followers and we are one of them in their social network accounts.
Some just do it to make known the project between people and others promote these new ventures for the simple fact of getting rewards. In This article we will focus on understanding that these are treated and because they are so popular in ICO.
Finally We will close this post talking about the types of campaigns that exist to obtain rewards, and as anyone can get involved and win some.
What are Crypto Rewards?
The Bounties, how they are known in English, are the rewards that we can get in the form of digital coins or tokens. It Is A type of payment offered by a project to someone in exchange for this to do some kind 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, the 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 any activity for them. Now Let’s Look at the relationship with the world of cryptocurrencies and blockchain.
Many times we see ads on television or on the radio that the government offers a monetary reward to anyone who can offer some kind of information about a person. In which it is someone who wants to catch for having committed an illicit is called to people bounty hunters.
In the case of the cryptocurrencies and applications of blockchain something similar occurs, 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 giving the whereabouts of a hacker or retrieving a stolen account.
In turn, the big projects in the space of the cryptocurrencies have programs related to the marketing and with the purpose to promote their idea. These are added rewards programs destined to find errors and improve software that are vitally important to success. The more you pay, the greater the motivation for someone to report the bug instead of using it for your 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 the users are rewarded in the native currency that can then exchange for another like Bitcoin or use an exchange to acquire Fiat coins.
ICO Rewards Programs
We Can Find a large number of startups in the blockchain industry that have a program like this as part of their promotional campaign for their initial coin offer.
Before the delivery of the coins is made, a certain amount of them is used to encourage the participants in various activities. It Can be to promote the offer, to pay the developers and even the investors. An example of this is that the first users of an ICO, the first investors, obtain an additional percentage.
ICO’s rewards programs focus primarily on marketing. It Helps to give visibility to the project is a successful measure to be known in the community. In Addition, it is like the fuel needed to get the resources a project needs to achieve the goals and rapid growth.
Types of Campaigns
There are mainly two types of rewards campaigns in ICO. On the one hand those that are made before the same and the later ones.
The first ones are aimed at launching the project and are therefore focused on finding investors. It is normal that these are rewards that focus on social networks and on forums like BitcoinTalk.
While The post-launch of the initial coin offer seeks to improve the project and grow your community. In this case it has to do with works on the project like translations, reports of errors and developments that are paid with the native currency.
How to participate in one?
Rewards are one of the easiest ways to win some bitcoins without investing anything but your time. If you are an influencer on social networks, YouTuber, blogger or even an important member within the BitcoinTalk forum, finding rewards is quite simple.
For example, if we have a big Twitter or Facebook account we can promote the ICO or the project there, something that does very well John McAfee. Those we obtain will depend exclusively on the number of people we reach with our publication and the level of interaction.
The same is true if we have a media where we publish content such as a blog or a YouTube channel, because we can write an article or make a video in which we talk about the project.
If We have development skills the best we can do is to report bugs in the security of the software or directly participate in the coding of the project. These rewards are usually bigger than the previous one because of the criticism that is the task.
Where Do you encounter rewards programs at cryptocurrencies?
The Place to find this type of program is in forums like BitcoinTalk.org. All you need to do is read all the offers that are there and choose the one that fits your needs. Once done it is necessary to complete the work and you will receive your reward.
You Must take into account that in most of these payments are made once the event of the ICO is over and the same is done with the same token. Therefore, the value we obtain will depend exclusively on the success of the currency and because we can exchange it later.
In case One of these ends up being a scam or fail, something that happens very often, we will not get reward or the tokens have no value whatsoever. Added to that when if there is value for our task this can come after several weeks or months.
This is an easy way to get cryptocurrencies in our free time. If you are a security expert and you find errors you can make a lot of money, but you must be careful with certain projects that will not give you anything. So before you get full with one the best thing is that you spend time to discover in a careful way in which to participate.