What Is A Bitcoin Bounty?

Bitcoin bounties

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Bitcoin is a grassroots movement built on open source technology and remote collaboration; it’s been true since the formation of the bitcoin blockchain and continues to hold true with the expansion of the network. We now have second-layer solutions. We have applications plugging into the bitcoin network and innovative ideas that require development and testing.

While some come to bitcoin and are willing to contribute their time, skills and capital without the expectation of getting direct monetary compensation, bitcoin isn’t about altruistic labour. There are several ways for you to get involved in bitcoin, leverage your skills and receive direct payment for the hours you commit and milestones you achieve.

You can pick up tasks in the bitcoin community and get paid through various bounty programs.

What is a bitcoin bounty?

The term bounty refers to a reward posted by a group or individual to incentivise particular work, behaviour, or development. The vast majority of bitcoin bounty programs would revolve around web development, backend coding, testing, UI creation, and technical needs, but it’s not the only way to earn.

Bounty programs can even extend to referral programs, and you bring in someone who can complete a task can also be considered a kind of bounty.

In the context of bitcoin, a bounty program is a marketing strategy used by startups during the launch of their new product to help drive improvements to their porduct, provide testing or generate sign-ups and acquisitions. Typically, bounty programs target the bitcoin community, and they usually include the following activities:

Feature development campaigns

Specific applications in the bitcoin ecosystem may lack expertise or not have the time to concentrate on adding a new feature. Instead of trying to secure a developer and going through a long-winded hiring process, companies would use the bounty program to attract part-time developers to take the task on and make it on behalf of the service provider.

Bug reporting campaigns 

The purpose of this bounty is to incentivise developers and security researchers to report potential bugs and vulnerabilities in software and infrastructures. The value of the rewards depends on the severity and the interest of the identified bugs.

Social media campaigns 

These aim to raise awareness of a project using the social media accounts of participants. The goals can be set in the form of likes, reposts, shares, views, and comments on popular platforms such as Twitter, Facebook, Youtube, WhatsApp, WeChat, and Telegram.

Content creation campaigns 

These target bloggers, writers, video content creators, and enthusiasts, encouraging them to create articles, blog posts, or videos. Then, the content can be distributed across social networks and platforms to increase awareness of a bitcoin-based product or service. Usually, the rewards will be dependent on the impact or engagement level of the created content and can be considered sponsored content. 

Translation campaigns 

This bounty consists of translating essential documents related to the project to ensure global outreach. This commonly includes the website copy, the official website, App screens, user guides and more. 

Where can I find bitcoin bounties?

If you’re looking to earn some bitcoin with your talents or you’re looking to stay up to date with the latest bounties circulating the ecosystem, you should consider checking out the following resources.

Bitcoin bounties

Bitcoin Bounties

Somebody make this

Somebody Make This Bounties

NYDIG bitcoin bounty

NYDIG bitcoin bounties

Telegram bounty groups

You can also hang out in the following Telegram groups

Telegram bounty groups

Disclaimer: This article should not be taken as, and is not intended to provide any investment advice. It is for educational and entertainment purposes only. As of the time posting, the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency, as all investments contain risk. All opinions expressed in these articles are my own and are in no way a reflection of the opinions of The Bitcoin Manual

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