Airdrop and Bounty: Earning Cryptocurrency Without Investment

How can you make money on cryptocurrencies if you don’t have enough knowledge and skills for trading, and if mining requires large investments? You can take part in the giveaways of free coins that are organised by projects. Teams do this to attract attention to their project. It is profitable for them: marketing costs are saved.

Of course, projects don’t give away the most liquid and convertible cryptocurrency, but native tokens, which at the initial stage have a minimum price. But such methods as airdrop and bounty give beginners the opportunity to earn their first capital. What is behind these mysterious words and is everything so easy in reality? Let’s find out.

Airdrop

Airdrop is when a blockchain project distributes free tokens or coins to the crypto community. Project developers do this act of unparalleled generosity for the sake of advertising because freebie lovers will surely spread information about the project all over the Internet. The more there are holders, the more famous the token will become. So, by distributing tokens for free, the developers raise awareness and value of their cryptocurrency.

Most often, airdrop may require a user to do something not difficult, that doesn’t take a lot of time and effort. For example, a developer may ask to leave a comment in the project’s thread on the Bitcointalk forum or to sign up on the project website. Sometimes new coins can be distributed for more complex tasks and it can become a kind of hybrid of airdrop and bounty. In general, there are no strict rules, each project creator does things his own way.

Bounty

Bounties offer a lot more than airdrop, but in exchange for considerably more work, for example, posts, reposts, retweets in social networks, thread promotions on forums, etc. In other words, you must make more effort to get new coins. It will be better for participants to have widely promoted accounts in social networks and related forums.

Various IEOs are conducting advertising campaigns to promote their brand and encourage people who help to popularise the new cryptocurrency. They receive a reward in the form of tokens that are sold during this IEO. The bounty campaign can last several months and there can be several token distributions during this period. So this is very profitable and long-term way for participants to earn some money. You just need to be active and help the project move forward.

Also, developers often need a translation of their project into different languages. If the participant is capable to translate texts, advertising and technical documentation of the project, that can increase his chances for bigger rewards.

How profitable is this?

If you regularly participate in various airdrops and bounties, you can accumulate a whole range of tokens from different projects in your wallets. You can immediately sell some of them on cryptocurrency exchanges, the others will be valuable only after a while. But if you don’t have financial problems, then you should take it slow. It is likely that after some time the coin prices would rise substantially and you’ll make a hell of a lot more cash in the end.

In general, those, who are not ready to risk in crypto trading, could pay their attention to this type of income. Although you can’t do it completely without risks here, because participants risk their time spent on airdrop and bounty.