I don't know if there is a thread about this or if it is the right thread to post this, but still I'll try for the sake of those who do not know much about airdrops, bounties and such. Hope it helps!
What are Airdrops and Bounties?
When you hear about airdrop and bounty what comes first into our mind is FREE MONEY, right? Well, that is the purpose. These are ways for new coins, mostly ERC20 tokens who plans to have ICOs, IEOs and ILOs in the future to gain popularity and attract investors, traders and holders by doing tasks in exchange for free tokens, coins, freebies, etc. Established coins such as BTC, LTC, XRP, TRX, etc and DApps such as WINk and Maker can also do airdrops and bounties.
What is the difference between Airdrops and Bounties?
They are more or less the same. The only difference is that airdrops tasks are a a lot easier than bounty tasks. Also, bounty tasks take a lot longer and gives more.
Airdrop tasks can be as simple as just joining their Telegram Group or following their Twitter accounts and other social tasks required by them; while on doing bounty tasks, you usually have to exert more effort. An example is making a blog regarding NRG token or posting a video on Youtube about DGB.
How can you earn with these?
Simple. Do the tasks now, get rewarded later.
What are needed to be an Airdrop and Bounty hunter?
Usually, the following are the things needed.
... and government issued ID's for KYC or users real identity verification.
......and a lot of work on clicking, a lot of patience in waiting for distribution and a moderate skill on inviting others to join.
What are the things to remember?
Airdrop/Bounty date - so that you can know when an event will end
Distribution date - think of this as payday, day when you will received your tokens in your wallet
- distribution most probably takes place after ICO, ILO and IEO
- keep following their social media accounts for announcements from them about this or what is the current status of the project
ICO - initial coin offering
- this is used to raise funds for a project
- the more funds, the more successful an airdrop/bounty will be
IEO - initial exchange offering
- holding or investing in a token is useless and has no price if it can not be bought/sold in the market
- this will be your sign that you can make profit from your airdrop/bounty tokens
ILO - initial listing offering
- the token will be listed as pairs on cryptocurrency exchanges like Binance
- trade to BTC, ETH, USD etc to make profit or put your money into a more stable currency
- if you think, the token will rise up int he future. You know the word! HODL IT!
But, not all listed on exchanges is a good asset to invest in. Most ERC20 tokens have an ICO price of as much as $1 then after just 1 month will go down to $0.0000001.
What ERC20 supported ETH addresses?
ERC20 - tokens that is made with an Ethereum (ETH) contract
- think of these as the babies of ETH; same DNA, genes, characteristics, etc.
- Like ETH address, ERC20 starts with 0x.........
ERC721 - came from ETH contract as well but are 'not fungible'
- Examples: collectibles, virtual pets
- these are usually from DApps Games
- sell or trade to other users for ETH on platforms like OpenSea
Recommended ERC20 supported Wallets
Web
Mobile
Hardware wallets
Note: Your ETH address from exchanges like Binance are not ERC20-supported addresses!!! Do not use exchange address for ERC20/ERC721 airdrops!
Note: Keep your private keys safe and do not share to other people!
Cryptocurrencies you might not be familiar with but seen on airdrops and bounties
TRON - Tron was an ERC20 token but later made its own mainnet or contract
Wallet: TronLInk
STELLAR - you have to fund this to open an account and needs to maintain a balance of at least 1.5 XLM to continue using your wallet
Wallet: Lobstr
EOS - you have to pay to create an EOS account
Wallet: Scatter
Do not use your ETH address for the above airdrop/bounty token types!
I think these are all you need to know for now. In time, you will learn every nooks and crannies about earning with airdrops and bounties.
You can now start earning with airdrops and bounties. Just remember that not all airdrops/bounties are going to pay you in the end. And also, it is rarely that you will get a $10 to $100 worth of token for just a single airdrop/bounty.
Airdrops/bounties from established cryptos pay you more than those from start-up tokens. Airdrops from cryptocurrency exchanges are also profitable sometimes.
Again, do not share your private keys to other people or you will lose everything!
And that's that, fellow BMFers! Hope I helped you a bit.
Share your thoughts, ask questions or provide any additional information below!
What are Airdrops and Bounties?
When you hear about airdrop and bounty what comes first into our mind is FREE MONEY, right? Well, that is the purpose. These are ways for new coins, mostly ERC20 tokens who plans to have ICOs, IEOs and ILOs in the future to gain popularity and attract investors, traders and holders by doing tasks in exchange for free tokens, coins, freebies, etc. Established coins such as BTC, LTC, XRP, TRX, etc and DApps such as WINk and Maker can also do airdrops and bounties.
What is the difference between Airdrops and Bounties?
They are more or less the same. The only difference is that airdrops tasks are a a lot easier than bounty tasks. Also, bounty tasks take a lot longer and gives more.
Airdrop tasks can be as simple as just joining their Telegram Group or following their Twitter accounts and other social tasks required by them; while on doing bounty tasks, you usually have to exert more effort. An example is making a blog regarding NRG token or posting a video on Youtube about DGB.
How can you earn with these?
Simple. Do the tasks now, get rewarded later.
What are needed to be an Airdrop and Bounty hunter?
Usually, the following are the things needed.
Reaaaallly needed
Email
Telegram
Twitter
Digital wallet
ERC20 supported wallets
Somewhat needed, especially for bounty hunters
Medium
Facebook
Reddit
Discord
Bitcointalk
LinkedIn
Instagram
Youtube
Blogsites
... and government issued ID's for KYC or users real identity verification.
......and a lot of work on clicking, a lot of patience in waiting for distribution and a moderate skill on inviting others to join.
What are the things to remember?
Airdrop/Bounty date - so that you can know when an event will end
Distribution date - think of this as payday, day when you will received your tokens in your wallet
- distribution most probably takes place after ICO, ILO and IEO
- keep following their social media accounts for announcements from them about this or what is the current status of the project
ICO - initial coin offering
- this is used to raise funds for a project
- the more funds, the more successful an airdrop/bounty will be
IEO - initial exchange offering
- holding or investing in a token is useless and has no price if it can not be bought/sold in the market
- this will be your sign that you can make profit from your airdrop/bounty tokens
ILO - initial listing offering
- the token will be listed as pairs on cryptocurrency exchanges like Binance
- trade to BTC, ETH, USD etc to make profit or put your money into a more stable currency
- if you think, the token will rise up int he future. You know the word! HODL IT!
But, not all listed on exchanges is a good asset to invest in. Most ERC20 tokens have an ICO price of as much as $1 then after just 1 month will go down to $0.0000001.
ERC20, ERC721, Tron and others
What ERC20 supported ETH addresses?
ERC20 - tokens that is made with an Ethereum (ETH) contract
- think of these as the babies of ETH; same DNA, genes, characteristics, etc.
- Like ETH address, ERC20 starts with 0x.........
ERC721 - came from ETH contract as well but are 'not fungible'
- Examples: collectibles, virtual pets
- these are usually from DApps Games
- sell or trade to other users for ETH on platforms like OpenSea
Recommended ERC20 supported Wallets
Web
Mobile
Jaxx
Desktop ClientHardware wallets
Ledger Nano
Trezor
Note: Your ETH address from exchanges like Binance are not ERC20-supported addresses!!! Do not use exchange address for ERC20/ERC721 airdrops!
Note: Keep your private keys safe and do not share to other people!
Cryptocurrencies you might not be familiar with but seen on airdrops and bounties
TRON - Tron was an ERC20 token but later made its own mainnet or contract
Wallet: TronLInk
STELLAR - you have to fund this to open an account and needs to maintain a balance of at least 1.5 XLM to continue using your wallet
Wallet: Lobstr
EOS - you have to pay to create an EOS account
Wallet: Scatter
Do not use your ETH address for the above airdrop/bounty token types!
I think these are all you need to know for now. In time, you will learn every nooks and crannies about earning with airdrops and bounties.
You can now start earning with airdrops and bounties. Just remember that not all airdrops/bounties are going to pay you in the end. And also, it is rarely that you will get a $10 to $100 worth of token for just a single airdrop/bounty.
Airdrops/bounties from established cryptos pay you more than those from start-up tokens. Airdrops from cryptocurrency exchanges are also profitable sometimes.
Again, do not share your private keys to other people or you will lose everything!
And that's that, fellow BMFers! Hope I helped you a bit.
Share your thoughts, ask questions or provide any additional information below!
