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Participating in Air Drops? Read These 7 Tips!

Apr 16, 2018 Posted /  870 Views

Participating in Air Drops? Read These 7 Tips!

Well, the crypto community is coming to a new term every day and we have totally no clue about it!

Just listen how things start with one term, and how they end with some other term. Total chaos. Airdrop is the new term going and this can be understood now!

What is airdropping? Well, it is nothing but free coins. Well, why give away free coins? Simple, it’s for the purpose of marketing. It’s anytime a great way to promote a new crypto project and to increase its awareness on social networks.

The free coins are sued to get all the airdrop hunters out of their hiding places and join the project’s community. The strength of the community helps in building a stronger project as well.

But beware! Just because they seem free does not mean they don’t come with a price. There is a list thing one has to take care of before falling prey to raindrops!

Meanwhile, let us see the types of airdrops available to us:

Holder Airdrops

Airdrops are mainly done on big blockchain platforms like Ethereum's and the rest happen on small ones. To get free airdrops for them, just hold them in time and voila! You get free coins.

This holding is known as a snapshot.

Forked Airdrops

During forking, the blockchain splits into two. To have this airdrop, hold the coins of the original chain before it splits and you’ll have new forked airdropped coins for yourself.

One of the most famous food airdrops was Bitcoin cash.

Bounty Airdrops

This is the most common type of airdrop available to us today. In most of these airdrop cases, all you will be needed to do is some petty online/social tasks on platforms twitter, facebook etc. these tasks can be like following the project’s Twitter or join its Telegram group.

All you have to do is submit your personal details, like an email address, and of course – your wallet address.

Beware of what is happening around you in this community! This area too is not left untouched by scammers here. These people have penetrated everywhere. Now the obvious question arises that how can we be scammed for something which is “Free”.

Well, the answer to it is simple. Airdrop requires some serious amount of time to be invested and that too when it is known that coins may or may not be received. So while you might go empty handed, the scammer can go about with all your personal data at hand. All the personal data entered or used might be at risk of theft, including your currency number.

Stellar was one successful airdrop, that gave away 1000 free coins worth $850.

Following are the seven safety tips for playing safe with airdrops:

1- Airdrops are all free, never pay for them. Bitcoins are the ones you have to pay for.

2- well this is a common rule for everything virtual. Never share the key to your network, and especially for the airdrop.

3- create a new exclusive email address for your airdrop so that all your personal data remains safe and is not at risk of hacking.

4- never reveal your private and functional email address to any party offering airdrop. It will simply increase the risk of theft.

5- have different passwords for all your id’s and especially for the id which you will be used for airdrops!

6- Since most of the projects are built on Ethereum good practice is to create a new Ethereum address that you only use for airdrops.

7- make sure your KYC account is not there even if you feel a little bit suspicious over this. For a free coin offering, KYC is not needed.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: Bounty Airdrops Forked Airdrops

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