What Is a Bounty of Cryptocurrency?

cryptocurrency bounty

If you are a cryptocurrency fan, but looking for easy ways to get rich on it, without investing in the development of startups and projects on blockchain, then you need to take part in the bounty campaign. You might already have many questions only after reading the first paragraph, but don’t be scared.

The Coin Shark will explain that bounty is not only a sweet coconut chocolate bar, but also a real way to win a jackpot.

Contents:
(please click the topic to scroll down to it)

  1. What is a bounty of cryptocurrency?
  2. What are tokens?
  3. How to make money on the bounty of a cryptocurrency?
  4. How much can I earn on bounty campaigns?
  5. How to choose a promising bounty of a cryptocurrency?
  6. Conclusion

1.What is a bounty of cryptocurrency?

Bounty campaign is the opportunity to earn a monetary reward for the performance of certain informational and advertising tasks aimed at promoting the ICO. Bounty participants do not need to invest anywhere and give their money to anyone. The tasks are trivial: they can be likes, reposts, comments on social networks, often on Facebook or Twitter, also subscribtion to email newsletters or activity on the forum Bitcointalk. The tasks include translations of texts into foreign languages, creating ideas for lending, software development and everything that concerns a particular project.

People who take part in bounty campaigns are called bountists. Participants are rewarded with cryptocurrency or tokens for completed tasks.

2. What are tokens?

If someone doesn’t know yet: tokens and cryptocurrencies are different concepts, so do not confuse them and remember how they differ from each other.

Cryptocurrency is only issued in a decentralized manner, but tokens can be decentralized or centralized. The value of the token depends on demand, supply and external asset. Moreover, tokens do not have their own blockchain. ICO projects often release their currency on the Ethereum blockchain. Now we can discuss what tokens are.

ICO projects and startups collect investments for the development of the idea by selling their own tokens, which are also used by users to purchase goods and services. The intra-platform currency, i.e., tokens, is divided into flows: these can be deductions for platform expansion, attraction of new users, for advisors and developers, and also for bounty programs.

3. How to make money on the bounty of a cryptocurrency?

The main purpose of the bounty is to maximize the spread of information about the ICO. To do this, all kinds of instruments are involved. The most common are the following:

  • creation of posts in social networks;
  • reposts;
  • comments in social networks and thematic forums;
  • subscriptions;
  • posting articles in blogs and news resources;
  • creation of video material;
  • distribution of video on Youtube and social networks;
  • development of applications on smartphones and PC software;
  • search and elimination of bugs;
  • newsletters;
  • development of corporate identity.

As a rule, the creators of ICO clearly describe the campaign requirements for bountists.

4. How much can I earn on bounty campaigns?

It’s impossible to answer exactly how much you can earn on bounty companies, because the amount of reward depends on a lot of things. The most important thing is not to make a mistake while choosing a bounty campaign, but we’ll talk about it later. The size of your reward depends on what budget was initially determined fot the bounty and the number of participants in the program.

There are two ways of rewarding for the completion of stages in the bounty campaign:

  • a percentage one – the program doesn’t have restrictions on the number of participants, which implies the dependence of the reward size on the number of participants. Naturally, the more bountists there are, the less the payment will be;
  • a fixed one – the program has a limited number of participants with a clear scope of work.

5. How to choose a promising bounty of a cryptocurrency?

Imagine, you found a project that conducts bounty programs. However, before you take action, make sure that the idea will bring you the amount of money corresponding to the work done. Undoubtedly, the huge plus of the ICO bounty is that you do not need to invest your money into anything. However, there is also a risk of not getting a reward.

This risk is justified by the fact that not every ICO is able to collect even the claimed minimum. Not to be left with an empty wallet and a lot of wasted time, we recommend that when choosing a bounty, you should pay attention to:

  • reputation and fame of the ICO;
  • working conditions with bountists;
  • formulation of tasks and the terms of payment;
  • amount of investment;
  • availability of MVP project;
  • road map;
  • guarantees.

Take your time and carefully check the information on the above points, so that after the work done, you won’t be left with nothing.

It is also recommended to look at the minimum and maximum declared amount of fees so that it is in reasonable measures. For example, you found an unknown project with a confusing idea, which is not very popular within the framework of modern realities. However, its creators have established a rabid range of fundraising. Do you think an unpromising product will be able to collect investments or not? And will you get paid for participating in the bounty? The answer is: no and once again no!

The question which bounties of 2018 are the most profitable is and will always stay open, as new blockchain projects with different conditions are launched almost on a daily basis.

6. Conclusion

Earnings on bounty can really become a paradise delight, if you responsibly approach the choice of ICO. You should definitely take your time to make sure the project is honest, rather than wasting time on free-of-charge promotion of scam.

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Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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John McAfee Is Not Having It With Online Trolls

mcafee is fighting the trolls

Scammers, fraudsters, trolls – whatever you want to call them – have been pushing their luck with a lot of major crypto personalities and famous people.

We all remember how a fake account of Vitalik Buterin tried to cheat the poor followers out of their money and when Elon Musk could not get rid of annoying trolls asking him whether he wanted to purchase Ethereum or not.

This time the crypto enthusiast John McAfee decided to oppose the Internet “pests”. He published an angry message on his Twitter.

So, we genuinely recommend all the trolls to leave McAfee alone for their own sake.

We remind you:

John McAfee Predicted the Bitcoin Price for 2020

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Binance Is Launching a Regular Exchange in Singapore

binance opens a fiat exchange in Singapore

Binance, the biggest crypto exchange in terms of trading volume (based on the info from the CoinMarketCap) decided to expand into the fiat direction. Its CEO, Zhao Chengpeng, made an announcement where he claimed that the fiat branch of Binance will soon open in Singapore.

Firstly, the beta version will launch. It will happen on the 18th of September. This is a necessary step to try the idea out and fix all the flaws that might come up. The details of further development of the fiat currency exchange have not yet been revealed.

We remind you:

Review of Binance Coin Сryptoсurrency: Benefits for Holders and Prospects for Development

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