(Originally Posted July 14th 2023) With the rising popularity of Cryptocurrency some companies and most exchanges are rewarding patrons for learning about Crypto, using an application, or by spending through services. Usually the rewards are just an incentive for people to learn or use an application and spread awareness of what Cryptocurrency they host or what the application offers. Some exchanges offer a small bit of a learned Cryptocurrency while services offer a currency or token they have created themselves. Others might offer a more universal reward known as “Satoshi’s” or “Sats”. “Satoshi’s” are fragments of Bitcoin and are thus more widely accepted throughout many Blockchains. Each application and service has its own method of distributing a reward. Some are simply given through use of the app while others require navigating to a certain page on the service to claim the reward. The amount rewarded varies and usually there is a time limit or restriction on how much can be claimed. There are almost always ways to claim more rewards by accomplishing tasks the application requires from verifying an account to inputting enough for a limit to be reached.
It’s always a good idea to research any application related to reward systems extensively to ensure it is based on a solid foundation and not an attempt to scam people of their details.
Helpful Links:
https://www.investopedia.com/terms/s/satoshi.asp – Explaining how much a Satoshi is in regards to Bitcoin
https://www.reloadly.com/blog/crypto-rewards-program/ – Brief overview of Reward programs in relation to Cryptocurrency
https://blinqnetworks.com/how-cryptocurrency-loyalty-reward-programs-and-tokens-work/ – Another view point of reward systems and Cryptocurrency.