Ever since cryptocurrency makes a name for itself, a lot of people are getting engaged including me because we can earn money from it. From buying low to selling high in trading up to joining in several ICO’s. But one way is the most buzzed about on acquiring a coin or token without the need to spend your own money, it is called Bounties.
Bounty in Crypto
Yes, we can get free crypto and there are a lot of ways to do it but the best way to do it is by joining a bounty. The word “bounty” in the world of cryptocurrency is by doing something for the company to promote the new coin that they will release to get more investors and to reach their target sales. It may be done joining social media campaigns, making a video or writing an article here on Steemit. After the campaign ends, token rewards will be given directly to your wallet.
Expectation versus Reality
After spending a lot of time and effort in doing bounties for months all I received in my wallet is numerous shit coins and promises that are not fulfilled. They say 8 out of 10 bounties are scam which is true based on my experience. Those scammers are so professional, people would not even think that it is a scam and they will just disappear at the end of the campaign leaving participants with nothing in exchange to their efforts. There are also a lot of participants now in every bounty not like before that having a few members can guarantee more coins if the campaign is successful. Another problem that I have noticed is multiple accounts. Some users are using this method to gain more rewards for themselves. This makes the campaign looked like there are more members, but the truth is 10 or more of those accounts are owned only by one people and it can make the reward system low. I think they resolved this multiple account thing by using the KYC or Know Your Customer method.
As a result
Less tokens on my wallet. Some of them worth nothing or only a few dollars or cents. Some tokens on my previous campaigns are not being distributed yet as if they are waiting for something. So basically, I earn nothing or wasted a lot of my time. I did not get a lot of money just like what happen to others. I also observed that more and more ICO are not meeting their targets thus ending in project cancellation. Cryptocurrency bounty is dead.
Conclusion
They say that those who buy bitcoins when it was first released was the lucky ones but if you were on that same year, would you think that its price can go high up to $19,000? It is same with joining bounties, you will not know the result once you have joined. It is not like 2017 anymore where the golden year of bounties happened, more legit bounties than scam on that year. For now, until the market is not yet recovering, joining a bounty is much riskier. But then again if you join and get scammed, you will only just lose some of your precious time. Are you willing to take the risk on what is now dead?
