Airdrop Crypto is one of the common ways to obtain crypto assets for free. In addition to airdrops, there is also another common method called bounty crypto.
It has become a general knowledge that there are numerous ways to earn money online, ranging from completing simple tasks (e.g filling out forms, being part of communities offering social media services, and so on), and this has become one of the marketing and recruitment tactics in the crypto projects.
This way, crypto enthusiasts are expected to be more interested in promoting, spreading awareness, and developing their projects. However, in digital assets, the rewards will be distributed directly from the coins or tokens that are deposited in the participant’s wallet.
So, what is the difference between the two? Let’s break it down in this article.
Getting to Know Airdrop Crypto
In the beginning, the first airdrop was created by Satoshi Nakamoto. At that time, Satoshi was willing to give Bitcoin to the people who would create nodes. Basically, airdrop crypto is coins/tokens that are distributed for free by the currency developers who are selling their tokens.
To sum up, these tokens are distributed for free when you register and invite friends to join via your referral link. For example, when there is one developer who is selling tokens with a total supply of 1 million tokens, the developer will allocate 50% for the Airdrop, while the rest will be sold to buyer holders.
Therefore, this token can also be referred to as a kind of reward for participants who are involved and follow the project on the developer’s social media account as well as assisting in its marketing efforts. The practice of airdrops began to become more common in 2017 and in 2018 increased—in line with the increasing number of coins and tokens.
Then, how to join the airdrop and get tokens for free?
Now, the steps are getting easier with websites like airdroprating.io. Users of the platform will get guidance to follow the latest airdrops along with instructions to earn some free tokens.
Generally, it will make you follow several social media platforms, retweet project uploads, and sign up for Telegram servers. If not, then the airdrop dApps require symbolic participation in the developer’s online platform, which can be another learning experience about the crypto ecosystem.
On the other hand, for crypto projects and their participants, airdrops are very beneficial. Airdrops can also be considered a prospect in terms of marketing because participants will probably take the time to read about the project and invest in it if it sounds promising.
Regarding the crypto project itself, the airdrop also ensures that the coins will be distributed evenly. In addition, when developers enter the market, there is enough circulation for tokens to have liquidity.
Then, when the time comes to choose a token on the exchange, it will increase the chances by mobilizing the token’s supporters through common interests. Furthermore, for airdrop participants, the benefit is that they will also get free entry into the world of cryptocurrency.
Unlike Airdrop Crypto, What is Bounty Crypto?
Although similar to airdrop, bounty crypto will usually be used for promotion through various social media activities, content creation, or forum uploads appointed by the project developer.
A number of coin developers are known to use a bounty system offering a different amount of rewards. On the other hand, there is also bounty whose rewards will go directly to the dashboard.
Moreover, there is also a bounty that uses a certain time limit. In this case, a bounty will be sent and you may not delete it before it is complete within the time specified by the developer.
For information, the easiest bounty will incentivize users to promote the project at various stages through social media uploads and reposts on Twitter or Facebook.
There are also other types of bounties issued for content, including creating logos, Youtube videos, or uploads on Medium. The oldest type of bounty is the bug bounty. In this case, participants who can hack well will be rewarded if they successfully find bugs in the developer’s project code.
How does this bounty distribution work?
For social media activity, the reward will be equivalent to how many retweets or shares the bounty hunter gets. Similar to social media rewards, rewards for content creators depend on video views or uploads as well as the traffic they bring to the project web page.
Regarding forum posts, users will be given tokens depending on their membership seniority level, while bug bounties are generally predetermined.
Bounties themselves are considered to be more than just a promotional activity because a crypto project that emerges sometimes ends up with more work than they do directly. That way, token developers will turn to the crypto community and distribute tasks they couldn’t participate in, in exchange for tokens.
For a crypto project, bounties are the best way for the developer’s social activities while managing the project throughout the development and expansion process. On the other hand, bounty crypto hunters can pair rewards and airdrops for some passive income, while developers can also earn some tokens.
Difference between Airdrop and Bounty
At least, there are two basic differences between airdrop and bounty. First, in the airdrop, you can participate only once, while the bounty campaign itself is an ongoing event.
Second, in the airdrop, you only need to do social media activities, while in bounty, you have to use special abilities and skills because this is related to programming and/or applications.
Third, in bounty crypto, you have to be more patient because this project must be successful before you finally get paid, while in airdrops, you will earn coins just by completing fairly easy tasks.
Apart from that, although the two are different, airdrop and bounty crypto activities are the best way to get paid while learning about cryptocurrencies. Interested in joining?