Cryptocurrencies and blockchain technology boomed in 2017: the technology that was developing for quite a long time now is coming to mass consumption and is being deployed in many apps, services and inventions. The cryptocurrency market has been growing exponentially too attracting millions on new investors who got into the loop. Still, the market is rather complicated to enter and buying coins independently may become a tedious endeavour. As a result we get a rather high input threshold for newbies. Moreover, crypto-world is extremely volatile and bears great risks in addition to attractive investment opportunities. However, this doesn’t scare off the enthusiasts striving to buy some crypto, and their number is growing.
Besides direct investment by means of buying crypto with fiat money, there are hundreds of other ways to get coins. Bounty campaigns is one of them. Every project that is launching an ICO is having its Bounty campaign. Basically, it is remuneration for participants for promoting the project. Participants do all sorts of things — advertising, social media marketing, generating content, translating, etc. ICO projects would normally pay in their tokens that a participant can either sell at the exchange or keep on their wallets waiting for project development and token price increase. An important thing here is that the majority of bounties won’t require significant effort on your part, and in fact are pretty reasonable option to get to know the crypto-market and get your first token.
BitcoinTalk
This forum is the major framework for any ICO promotion as there hundreds of people interested in cryptocurrencies, including investors. Forum has threads in many languages, and monthly traffic ranking is about 30 million users. That’s why ICO projects allocate funds for Bitcointalk promotion at the very beginning. The subscription campaign proved to be one of the most effective promotion strategies.
ICO projects normally allocate a certain percentage from the amount of funds raised at their crowdsale as a Bounty-budget. For instance, Arbidex announced 2% of the total token sale to be allocated for their Bounty. The hard cap for the project is 16$ US dollars. with 25% of the total Bounty budget allocated to subscription campaign, 30% to blogs, Telegram and Facebook — 15% per each accordingly. Link to Arbidex bounty campaign with conditions of participation is available here: https://bitcointalk.org/index.php?topic=2545909.msg25953863#msg25953863
The budget for one thread of the Bounty is divided among the participants, but
the pay is distributed not evenly: it depends on your rating. At BitcoinTalk every user can set a text message on his profile that will automatically be showing on every post he makes. So ICO projects would normally rent this space to use it as advertising space. Your account advertising options depend on your rating too.
The profit you can make is very different depending on the total number of participants, because in the end the amount allocated for the campaign will be divided among all the participants. Plus you can use multiple accounts to participate, as there are no strict restrictions, all that matters is their rating.
Social media
This Bounty type implies that you have social media accounts on twitter, telegram and facebook. The accounts should be active and live with a large number of subscribers. Many users would use fake accounts with huge amounts of subscribers, that’s why this type of promo is not very appreciated by ICO projects. Still, it is one of the most popular promotion strategy. All you need to do is subscribe to the project;s official pages in social media, like and share their posts, repost and retweet them. Again, you can participate in multiple bounties and you won’t even have to create a lot of accounts. This promotion strategy doesn’t ask for much effort either, that’s why it’s rather popular. But the downside here is that large number of participants decreases the profits of a single participant.
Blogging and content generating
Here you will need to make much more effort, but if you have your audience on blogs, you can make good money. Arbidex accepts blogs on Youtube, Golos, Steemit and Medium for participation in their bounty. There is a number of requirements to the blogs and the number of participants.
How do I choose an ICO?
First of all, you need to approach the project from the investor’s perspective, because even though you’re not investing your own money, you are still investing your time and effort. Moreover, a project with a ready MVP, good team, and actually addressing an issue in the industry might soon start bringing some interest on your initial investment. Arbidex is surely one of such projects. It is a platform for automated exchange arbitrage that features the following:
- It is a finished product — an operating platform for exchange arbitrage that allows you to make profit on trading chains
- The project is already generating revenue and continues to develop
- There are no decentralized solutions with an exchange arbitrage on the market at the moment.
