What Is An Airdrop?
In cryptocurrency, the term “airdrop” is a distribution of a cryptocurrency token or coin, usually for free, to a large number of wallet addresses.
Or more simply, Airdrop refers to the free distribution of small amounts of a certain virtual currency tokens to its community members either for free or for performing small tasks. Learn more about Airdrop.
What are Cryptocurrency Bounty Programs in ICO Campaigns?
Cryptocurrency Bounty programs are incentives offered to an array of participants for various activities associated with an initial coin offering (ICO). Or more simply, a bounty is the reward given to a person after they’ve accomplished a certain task. Usually, these tasks are simple enough for people to join. It is also a way for the company to get its market involved. Learn more about Cryptocurrency Bounty Programs.
Airdrops vs. Bounties: What’s The Difference?
1. Generally, airdrops are easier to collect compared to bounties. Some airdrops are given out automatically and you don’t have to do anything at all to collect your reward. Others require you to complete a KYC (Know Your Customer) questionnaire or give out your email address.
Before you can collect a cryptocurrency bounty, you have to perform some type of promotional task. For example, some bounties require you to post a series of tweets or message board posts.
2. For an airdrop you have to do an activity only once. After some period of time (mainly after main sale) you will get your free tokens. Rewards are lower, due to lower effort.
For a bounty program you are asked to do regular activities and you often have report all tasks which you have done to the project team in order to receive your tokens.
3. Bounty programs are worth more than airdrops, but the effort is not comparable.Please always keep in consideration, that some projects can fail. If that’s the case you won’t receive any tokens for the effort you’ve done.
Bounties and Airdrops are great tools for projects that want to create a buzz around their token as well as increase adoption. They are also a great way for users to partake with relatively “free” awards. A true win-win.
Bounties will require some time and effort so you will need to decide how much your time is worth. Of course, if you are learning something new about cryptocurrencies then the time is not really “wasted” per se.
Airdrops and Bounties are great ways to get your hands on truly free coins. As long as you practice basic crypto security 101 then you are unlikely to fall for any scams.
keep your eyes on our posts and your ears to the ground. Lucrative bounties / airdrops are abound.