Educational Byte: How to Earn Some Free Cryptocurrency on Obyte

The crypto world is still very new, compared to more traditional assets. “Bitcoin” and “Cryptocurrencies” are now viral terms, but that’s not enough. Real adoption is still a challenge, especially for specific brands inside this wide industry. That’s exactly why numerous developers and projects often give away some share of their tokens. 

Mostly, these gifts help to promote the project and increase real-world adoption and use cases. It’s a win-win for brands and users: they earn some money they didn’t have before, and the platform gains in awareness. The main ways to distribute free crypto tokens to anyone willing to claim them are airdrops or giveaways and faucets. 

There’s not a lot to do by the user in either case. The team behind the platform decides the airdrop rules, so, maybe you should share a post about them, click a button on their webpage, or have owned another coin before a certain date (like Ether or Bitcoin). As for the faucets, they’re websites or apps in which you can answer surveys or solve captchas in exchange for a few coins.

Free Bitcoins website, first faucet in existence. Retrieved from the Internet Archive.

We do have some free cryptocurrency in Obyte as well. And we have additional methods. Let’s find out how to earn some free tokens! 

How to get some free GBYTEs

Obyte (previously Byteball) never had an Initial Coin Offering (ICO), crypto mining, staking, or similar method. Instead, most GBYTEs have been distributed via airdrops and rewards. Our first BTC airdrops until 2017 gave away over 645,341 GBYTEs to numerous early adopters. 

If someone owned a certain amount of Bitcoin (BTC) at that moment, they were able to receive some share of GBYTEs. This distribution method is now discontinued, but we still offer several ways to earn free coins. 

ID Attestations

Anyone can create their own self-sovereign identity/verified data on Obyte. We call this function “attestation”, and it could also work to access several applications in the Obyte ecosystem. You can verify your real name, your email, your GitHub account, your status as an accredited investor, and more. This is done through chatbots in the Obyte wallet (Chat tab -Bot Store). For attesting your personal data, you can also earn between $8 and $79 in GBYTEs, depending on the attestation type. 

Telegram Quiz

A Telegram bot is available for everyone to use and earn some rewards —and gain some knowledge about Obyte. You only need to answer multiple choice questions about our platform (e.g., How large is the transaction fee in Obyte?) to the bot. Once you answer correctly enough of them, you’ll earn at least $0.02 in GBYTEs. The reward is paid as a textcoin.

Trading rewards

We have a rewards program for GBYTEs traders on the crypto exchange Bittrex —outside the United States. Up to 100 GBYTEs is distributed weekly to those who made profits by taking long positions in the GBYTE/BTC pair. The reward is equal to the profit, i.e. it doubles the profit.

If your position is still open at the end of the week, and it is profitable, we double your unrealized profit too. Additionally, other 100 GBYTEs are also given away weekly for GBYTE net buys (if you bought more than you sold or withdrew). Your share in the total 100 GBYTE reward pool is equal to your share in the total net buys during the week.

Investment of time: grants and tasks

Offer your own time in exchange for GBYTEs is an option too. It’s not completely free this way, since your own time and efforts are valuable, but it’s free from monetary investment (unlike Liquidity Mining, for example). We have a Grants Program for projects, especially non-profit/open-source, that help to improve the Obyte ecosystem. You can check the requirements and send your proposal to our team.

Likewise, we have a share of GBYTEs for developers and other professionals that are helping to improve and promote the Obyte ecosystem. For example, before the release of Autonomous Agents (AA), developers participated in a contest to build use cases for it. The total prize pool was $38,000 in GBYTEs. So, you can always share your best ideas with us!

End of the byte!