How viable are events and promotions as a profit option in crypto?

[AlphaBeta]

It does look like now more than ever, a lot more people are leaning towards events and promotions in web3 for making extra profits.

This kind of stuff has always been there but I think because of the bull run and the fact that a lot of these tier 1 platforms are trying to increase their user base, there's an increasing number.

If you check twitter, reddit or other SNS, you'll see events like the one below, or something from Binance, Bybit OKX etc that would reward you for certain tasks.

[bitterguy28]

it can be a good additional to your profits but i do not expect to get anything big through these to be honest especially that even if there is a lot of promos and events you would not be able to accept anything because there are a lot of people trying to participate and the prizes are also just dedicated to a limited number of people

[Philinfa]

With the recent bull run in the cryptocurrency market, many platforms are intensifying their promotional efforts to attract users and encourage engagement. Here are some reasons why this trend is becoming more pronounced,  platforms Like Bg and Kucoin have a launchpool on the same project that will be listing soon $ANLOG, BG launchpool reward pool: 23,333,431 $ANLOG while Kc launchpool reward pool: 9.09M $ANLOG.

 Exchanges are competing to grow their user bases. Promotions and events can incentivize new users to sign up and engage with their platforms. Events that reward participants for completing tasks help establish a stronger community, engaged users are more likely to remain loyal, participate in governance, and promote the platform organically.

 While also engaging with new technologies and communities. However, it’s crucial to approach these opportunities with caution and conduct thorough research before participating, as the crypto market can be unpredictable.

[Mia Chloe]

It does look like now more than ever, a lot more people are leaning towards events and promotions in web3 for making extra profits.

This kind of stuff has always been there but I think because of the bull run and the fact that a lot of these tier 1 platforms are trying to increase their user base, there's an increasing number.

There's always two sides of the coin or should I say two faces of the situation. Nevertheless the point is there is always a winning side and also a losing side. The projects all available in the crypto space these days actually feature both the losing side and the winning side.
The thing here is as someone that intends to venture a project or the space generally you need to understand how that particular ecosystem works for you to be able to effectively take advantage of it.

[SavvyTon]

it can be a good additional to your profits but i do not expect to get anything big through these to be honest especially that even if there is a lot of promos and events you would not be able to accept anything because there are a lot of people trying to participate and the prizes are also just dedicated to a limited number of people

I think most of this promos and events is about first come first served, reason why i get in early most times and i’ve been able to win quite a number. It such a good strategy for exchanges to onboard new users and give to the community, Bit get have one right now where you trade to get free memecoins like TRUMP, MELANIA and DOGE you can try your luck and who knows….

[TomPluz]

With the easy access to do online events and promotions, crypto-based platforms are certainly taking advantage of this marketing option to get more people onboard and to spread more awareness of their projects...and this can be in line with the goal of creating a big community that can be a very important factor for one's success in the crypto arena. I am sure many of them know that this can be a very effective thing to do...that there are even doing not just online activities but also doing it in the real world in big cities around the world. And the best thing is that participants may have the chance to win prizes and coins too...making going to events (online or offline) really so attractive.

[hugeblack]

This bonus is usually tokens and there are withdrawal conditions meaning you will have to do more tasks before you can withdraw $10 to $25. So it is more like tasks and some of these tasks require you to deposit and therefore it is not free but for a service.

[MUGNIA]

Promotion for a project is actually important, especially a developing project that definitely needs investors, so there's nothing wrong with devs creating jobs for hunters in every forum, not with large funds, short duration, short payments, then there will be many participants who will join.

This bonus is usually tokens and there are withdrawal conditions meaning you will have to do more tasks before you can withdraw $10 to $25. So it is more like tasks and some of these tasks require you to deposit and therefore it is not free but for a service.

Promotion for a project is actually important, especially a developing project that definitely needs investors, so there's nothing wrong with devs creating jobs for hunters in every forum, not with large funds, short duration, short payments, then there will be many participants who will join in promoting it.

[libert19]

In my experience, tasks as mentioned in op usually give peanuts in rewards, so they are not worth it but if there something like guaranteed reward with definite amount, those are better. A while back, I had to complete survey from primebit and reward was no strings attached $20 — I like kind of those.

[hugeblack]

Promotion for a project is actually important, especially a developing project that definitely needs investors, so there's nothing wrong with devs creating jobs for hunters in every forum, not with large funds, short duration, short payments, then there will be many participants who will join in promoting it.

Yes, but in such cases it is better for the conditions to be clear and the possibility of withdrawal in dollars/USDT/BTC, but what happens is that many services give false promotion such as saying that it is possible to get UP TO 1000 USD, while most participants are eligible to get 5 dollars and less than 1% are eligible to get 1000 dollars.

[Crwth]

Why would you consider it "profit" when it's an event? Unless the event is made for "profiting." It's somewhat of an option to follow something from an event, but relying on it just because it has an event is negative and may not bear fruit. It's better to have it as a supplement to your decision if you will invest in it.

You should look at it differently, in my opinion.

[Faisal2202]

These are trading events and if I am not wrong events like these are opened in most of the tier 1 exchanges all the time as one token get to list the events starts and another token and so on this never stops as I have never saw it stopped.

This can be a good way to make extra money but the risk is, the coins are mostly new and when we buy them to generate volume or to create task we think of using the same money on our 10 other account and that's where we do the big mistake.

As with the lose in the value of the token our money shrinks and we face lose until something really make us money.

[hugeblack]

Why would you consider it "profit" when it's an event? Unless the event is made for "profiting." It's somewhat of an option to follow something from an event, but relying on it just because it has an event is negative and may not bear fruit. It's better to have it as a supplement to your decision if you will invest in it.

There are always promotions like this that are an opportunity to temporarily pump the price or get free tokens, airdrops and other opportunities, but they should be viewed as an opportunity to earn $5 to $100 and not a way to earn millions.

[Findingnemo]

90% of those events give away tokens and coin as rewards which has no trade able value in the market so it's just useless to participate in such events while the remaining ones pay you in actual crypto but they are not really in favour of everyone, people who has more volume will likely claim it so big traders always get those rewards but once in a while we can see unexpected giveaways too.

[albon]

I don't get much from such events as many people participate in such events. But for some extra profit you can participate in such events if you want. This event can usually motivate a small number of people, especially who have large amount of funds. This event helps to increase the volume of a project so almost all projects offer it. It is surprising how many times we foolishly rush to participate in these events.