This daily is your most important to start early, it becomes available at level 40 but many players ignore it intending to go back to it when they are higher or better equipped, only to discover it gets much harder and time consuming every 10 levels.
Bounties will become your best source of easy level 2/3/4 gems as you progress your reputations.
To begin, 10 basic scrolls may be purchase to hunt mobs,
Don't be tempted to always take the highest/lowest scrolls, it's best to pick based on your damage versus each specific mob type (undead/demon/animal) or what you want to farm while your completing these quests.
breaking down your progress to easy gem's
0-500 Rep:
common choices
level 70-80 - Desert soldier ants (animal) = good spawn size/holy water drops
80-90 - Nordic Brown Bears (animal) = good spawn size/holy water drops
90-100 - Cursed Sad Souls (Demon) = good spawn size (most 90+ players should have a demon GG set)
100+ - Grudge sad souls (Demon) as above + these have the lowest HP in the map.
500-2000 Rep
at 500 reputation you now have access to 3 additional hunts per day, these hunts will reward you with quarts coins, a currency used to buy gems from the Bounty NPC,
2000+ Rep
by this stage you will be able to replace you chief hunts with quests that reward either quarts coins/soul jades/celebeam particles or dragon orbs, also these quests "may" include the option to submit specific crafted items instead of hunting mobs, making it a very fast completed daily.
@2000+ rep you can get 30 quarts coins per day (1 x Lv2 Gem costs 30 Quartz)
150 quartz + a gem talisman results in your choice of LV3 gem.