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If you are looking for ways to earn crypto by completing simple tasks, then you might want to look into cryptocurrency bounties.
In essence, cryptocurrency bounties are simple tasks that can be completed online in exchange for Bitcoin or other tasks. They are especially popular amongst companies holding an ICO or issuing their own cryptocurrency.
Most popular bounty tasks
The types of tasks that fall into the cryptocurrency bounties category range widely. Some of the most popular tasks include creating tweets, joining telegram groups and liking facebook pages. However, the above tasks rarely pay more than $3-5 due to how simple they are to complete.
If you want to earn more, you will have to participate in higher-end tasks like writing articles, creating videos, or making translations. These more elaborate tasks can sometimes earn you several hundred dollars if your work is approved.
Although most bounties do not require you to show any past job experience, you will need a good understanding of the cryptocurrency space to be able to produce high-quality work.
Best cryptocurrency bounties platforms
To find and complete the cryptocurrency bounties, you have two options.
First of all, you could go on forums like Bitcointalk.org or social networks like Twitter to search for companies offering these tasks.
Or, alternatively, you can make use of a dedicated platform for completing crypto bounties.
Here’s a quick outline of the most popular crypto bounties platforms:
- Bounty0x: Having paid out $5M+ in rewards, Bounty0x is currently the largest crypto bounties platform out there. The platform’s mission is to “Make earning crypto simple”, and it achieves this by offering a very intuitive user interface and hundreds of bounty tasks to choose from.
- Gitcoin: Gitcoin is a bounties platform focused on software-related tasks like writing code snippets and identifying bugs. If you are a developer, then this is the right platform for you.
- Bounties.Network: Bounties.Network is similar to Bounty0x in many ways, with the only exception that it only supports bounties paid in Ethereum or ERC-20 tokens. At the time of writing, it only has a handful of live bounties.
All of the above platforms charge a small transaction fee. This fee ranges from 5% up to 15%.
What to watch out for when completing crypto bounties
The unregulated nature of the cryptocurrency space can cause some issues when completing bounties that are paid in crypto.
Here are a few tips to keep in mind when you are considering participating in a bounty:
- Check the homepage and team behind the company: Make sure that the company that you are completing work for is legitimate and that the team is competent.
- Check if there are trading avenues for the coin the bounty is paid in Before completing a bounty in exchange for a less-known altcoin, check if the coin is listed on exchanges where you could exchange it for Bitcoin or Ether if necessary.
- Be careful with unlisted ICO tokens: If a bounty is paid in an ICO token that is not trading anywhere yet, make sure to read into the value proposition of the token. Otherwise, you will risk working for a worthless token.
Becoming an influencer
An influencer is a social media celebrity, which has a following. With that power, you can easily promote other projects efficiently. To do this you need to produce content, either via YouTube, in Books or on Facebook. You can then be in a position to negotiate a better bounty than the standard ones, and if you are big enough companies will come to you for promotion. If you are willing to go to the next step you can build or buy your own website. When you become an influencer you can also sell your own Info products ideas and Info Product examples.
Crypto bounties are paid in cryptocurrency or tokens, the projects can “print” as much of their own cryptocurrency as they want. It is important to understand the basics of how much tokens in circulation and what is the potential value that those tokens can claim. Focus on a quality, project which operate professionally and act like a real business. Creating multiple income streams is one step towards building wealth.
When choosing a bounty program keep in mind “when it is too good to be true, it is”. Many projects promise a lot to deliver a little or nothing.