Have you ever wondered what exactly the difference between airdrops and bounties is? I’ll suppose you did, since you’re reading this post. Finding the difference can be quite confusing, since it seems that their purposes are the same.
However, despite having some common characteristics, airdrops and bounties aren’t the same thing. In this blog post, you’ll find out the difference. Let’s start from the beginning and explain how free airdrops and bounties started?
Airdrops vs bounties: the beginning
Airdrops got their name after the supplies that were airdropped from aircrafts during the Second World War.
In the crypto world, airdrops are seen as free coins and crypto rewards. Users can participate in distribution by doing some small (social media) tasks, and then they receive coins in their crypto wallet.
And what about bounties?
Do you know how bounties got their name? That’s an interesting story that originates from the Wild West, where bounty hunting was quite popular.
Bail bondsmen would hire a bounty hunter to capture a fugitive. After the capture, he would receive a monetary reward called a bounty.
The same goes for the crypto world. Crypto bounties are tasks or jobs that you have to successfully complete to receive a native token from a blockchain/crypto company.
Now, let’s take a look at some differences between airdrops and bounties.
What are the tasks you have to complete when participating in an airdrop/bounty?
To participate in an airdrop you’ll have to complete a couple of easy tasks, and in some cases, you even won’t have to complete any task. Some of the possible tasks include:
- Sign up with your email
- Do some social media tasks such as retweeting, sharing, like a Facebook page, share a blog post, etc.
- Join Telegram groups
- Participate in online crypto forums
- Take a survey
- Watch a video
As you can see, these are pretty simple tasks.
When it comes to the bounties, the tasks can be a little more challenging. They can even turn out to be projects or jobs. These can be:
- Writing content such as blog posts and press releases
- Creating graphics
- Making a video
- Signature campaign on forums
Obviously, you’ll need certain skills for these tasks. And, last but not least, there is a special type of bounty called a bug bounty.
What is a bug bounty?
Bug bounties are usually reserved for advanced programmers, and you can’t find this type of tasks among airdrops. How does it work?
Programmers have to find a bug within a blockchain project, and after reporting it, they receive a reward.
For example, Coinbase recently paid a $30,000 reward for a single bounty, to a programmer who found a vulnerability in their security system.
How do they show up?
How they show up is one of the main differences between airdrops and bounties.
You see, airdrops can be conducted for simple project promotion, and they’re often distributed only to the members of the community or token holders.
We can say that they fall out of the sky into your wallet.
On the other side, bounties are usually open to anyone to participate, and they require certain skills for task completion.
There you go, the main differences between airdrops and bounties. We hope that this blog post made things clearer for you and that now you have a better understanding of crypto rewards.