What is a rewards program?

These rewards, known as Bounties, refer to the payment offered by a crypto project to those participants that fulfill with the execution of some tasks.

Additional incomes with cryptocurrencies

In the crypto ecosystem, several options to get financial benefits by participating in the activities that surround them, the most common is cryptocurrency mining and direct trading carried out with these. However, the reward programs created by the cryptocurrency developers also represent an efficient way to benefit financially with cryptocurrencies.

These rewards are known as Bounties, which refer to something offered by a crypto project to those participants that fulfill the execution of some tasks, payments obtained as digital currencies or tokens. These reward systems are related to different types of activities, depending on the type of campaign and goal established by the developer company.

What are these reward programs about?

Reward programs have different goals that go from verifying the security and functioning of the project to improving their positioning through marketing campaigns. 

Just like a reward offered by police or governmental authorities for information or participation in capturing a criminal, cryptocurrencies and blockchain apps do something similar, as one of the goals of these reward programs is focused on the protection against cybercriminals.

An example of this is the rewards program for the Bitcoin users, which rewards those who contribute to identify the location of a hacker or the recovery of a stolen account.   A rewards program that’s developed to promote a project and make it known in the ecosystem can be carried out before or during the ICO. If the campaign is carried out before, it has as a goal to launch the project and thus is focused on finding investors, with that in mind, they generally center in promoting the project in general or specific social media and forums like Reddit or BitcoinTalk.

If the campaign is carried out after the ICO, its goal is focused on improving the project, positioning it and making its community grow, then it will focus on the participants carrying out works such as translations, articles, reporting errors, improving software, and developments that are paid with the native currency. A really good reward is an excellent motivation for someone to report a bug instead of using it for its own benefit, a strategy that not only benefits the users but also companies, as, while these achieve to have a valuable service, users obtain significative rewards with the native currency. 

The cryptocurrency reward programs are centers especially in marketing, as this helps bring visibility to the project and are a successful tool to be known in the community. These programs are quite attractive for the influencers in social media, YouTubers, bloggers, or outstanding participants in forums like BitcoinTalk and Reddit, as accounts with the basic resource to generate the answers that the creator of the rewards program wants, a great number of people to reach with posts and interaction levels. 

There are also reward programs that pay for the direct participation in the project in activities different from the analysts or programmers, such as writing, translating, elaborating adds, or community management, all created by the developer of a project that has destined a determined amount of its tokens or currencies to be assigned in these programs. 

If the campaign is carried out after the ICO, its goal is focused on improving the project, positioning it and making its community grow, then it will focus on the participants carrying out works such as translations, articles, reporting errors, improving software, and developments that are paid with the native currency. A really good reward is an excellent motivation for someone to report a bug instead of using it for its own benefit, a strategy that not only benefits the users but also companies, as, while these achieve to have a valuable service, users obtain significative rewards with the native currency. 

The cryptocurrency reward programs are centers especially in marketing, as this helps bring visibility to the project and are a successful tool to be known in the community. These programs are quite attractive for the influencers in social media, YouTubers, bloggers, or outstanding participants in forums like BitcoinTalk and Reddit, as accounts with the basic resource to generate the answers that the creator of the rewards program wants, a great number of people to reach with posts and interaction levels. 

There are also reward programs that pay for the direct participation in the project in activities different from the analysts or programmers, such as writing, translating, elaborating adds, or community management, all created by the developer of a project that has destined a determined amount of its tokens or currencies to be assigned in these programs. 

Opportunities for everyone

These reward programs with cryptocurrencies are accessible for every type of participant, as long as they count with the elements to fulfill the assigned tasks, so it can be verified by the developer of the project.
Those who wish to participate in these reward programs must know that there are many offers in the network and almost all are very trustworthy and secure, but there are always those“projects” that take advantage of the naive to make free work. 

Verifying the reliability of a program of this kind is easy, it is necessary to verify its information in the web, its whitepaper, social media, etc., and determine if we find it secure or not. Once we do this, we must know which are the tasks that must be performed to complete the task and make it verifiable so we receive the reward. 

The cryptocurrency reward programs are a simple way to get additional incomes as long as you have the certainty that it’s a trustworthy project, to not run the risk of performing an unsuccessful work. 
We await for your comments if you thought this post was interesting.

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