Bounty hunting takes people out of poverty

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If you are one of the many millions of people who struggle to make a reasonable income, bounty hunting in the crypto sphere may just offer some light at the end of the tunnel, as Coindesk reports in a heart-warming story today.

One of those who is experiencing the life-changing benefits is Crypto Shaolin, a young man from central Africa who used to carry around an ice box containing bottles of Coke and Fanta to sell until a customer introduced him to cryptocurrencies. By using an Internet café, as he didn’t have a personal computer, he has managed to escape poverty. Now Crypto Shaolin is a full-time bounty hunter and freelances for BountyOx, a site that is one of a growing number of bounty hunting services.

Bounty hunters make money by “gobbling up small ‘bounties’ by completing a wide range of tasks.” Some programmes reward developers for spotting vulnerabilities in code, but they have greatly expanded beyond general coding requests and now also include marketing services, such as writing content and tweeting out links.

Bounty0x CMO Pascal Thellmann said: “People in low-income countries are often excluded from global freelancing marketplaces due to a lack of formal education and banking requirements,” and added, “while the rates might seem meagre to those living in more economically prosperous countries, for people living in poverty-ridden areas, the money is a significant source of revenue.” To date BountyOx has 30,000 active ‘hunters’ on its books.

Ayobami Abiola, a writer based in Nigeria, told CoinDesk he’s making “multiple times over” what he used to make by using Bounty0x. According to Abiola, he’s made $1,000 this year this by completing “bounties like article writing, posting on Reddit, Facebook like and share, Bitcoin Talk [forum] comments and joining Telegram groups for many projects.” This may seem like peanuts to westerners, but $1,000 is double what most Nigerians earn annually.

Thellmann sees bounty hunting as the foundation for more disruption, especially when cryptocurrency mass adoption is reached and the unbanked, typically those living in poverty worldwide, have access to payment systems.

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