The cryptocurrency industry is making a positive impact in people’s lives outside of daily trading.
Within cryptocurrency, an interesting concept has emerged among enthusiasts to create a viable career option for many, including those less fortunate. Crypto bounty hunting is gaining popularity because it allows people to fill an important position that most crypto companies need. The concept of a crypto bounty hunter is an individual who can find vulnerabilities in the codebase.
Originally, the job was given to coders because those holes in the code leave the entire cryptocurrency open to hacking or other attacks. However, as coders have begun to move away from the project, crypto bounty hunters have emerged in the industry to protect firms from being vulnerable to hacking and attacks.
How Have Crypto Bounty Hunting Opportunities Changing Lives?
Obviously, these crypto companies need to protect themselves from routine market attacks. Because of this, startups like Bounty0x, Gitcoin, and BountiesNetwork have become examples of companies knows as “bounty hosts.” These companies are responsible for connecting to cryptocurrencies that need their code to be checked for possible weaknesses.
As a result, there are many recent success stories like “Crypto Shaolin” who was in central Africa serving soda to tourists for meager wages and was able to escape poverty after being offered a new career path in cryptocurrency, according to Coindesk. It’s unconventional, but Shaolin is just one example of people making a living in cryptocurrency outside of just trading.
There have been other instances where crypto bounty hunters have escaped poverty in Nigeria and have earned up to $1,000 (USD) every year in the new role. It may not seem like much, but that’s double what the average Nigerian worker earns per year. It’s far from perfect, but it’s a great thing for cryptocurrency to make a positive impact outside of trading and the swings of the market that tend to be focused each day.
Pascal Thellmann of Bounty0x had the following to say about the opportunities many have been given through crypto bounty hunting:
“People in low-income countries are often excluded from global freelancing marketplaces due to a lack of formal education and banking requirements. Hunters can complete micro-tasks like retweeting or writing a review for a product, in exchange for a couple dollars in crypto.”