Like many other important aspects, airdrops are shares an important place in the crypto industry. No doubt, the crypto airdrop alert is an important trend in crypto communities. For someone new to crypto, technology might not have much idea about how to participate in airdrops. But before knowing about it, it is more important to have a clear idea about airdrops and whether they are good.
Airdrops can be explained as free coins for distribution. But why there is a need to indulge in free token offerings? This question must have struck your mind for sure. Now, let us know the answer to this question. As mentioned above, airdrops are free tokens, so we can say that these are used from the marketing point of view. Or say promoting a particular newbie crypto project. Now to implement this, it requires a medium which is a social network, where everyone becomes familiar with it. The coins which are being distributed freely ring up the attention of airdrop hunters to participate in airdrops and be part of the project’s community. A big, solid community is the key factor behind any successful project.
Types Of Airdrops
To smell the danger emanating from the rising number of airdrops, it is very essential to know the reasons behind it. But first, you need to know about 3 types of crypto airdrops, which are:
To participate in airdrops, then there are much common bounty airdrops, these days. Some actual hypes are surrounding these airdrops. Most of the time, you will be asked to do tasks, like following different social media platforms that are associated with the project. Besides this, you will be asked to submit personal details, including the wallet address and your email address.
If you want to participate in airdrops, especially, the holder airdrops, then you are supposed to hold crypto which is related to airdrop at a specified time, and then, new free coins will be dropped to you.
You all are familiar with forking that happens whenever there is the possibility of a split in the blockchain. So if you are interested to go for forked airdrops, then you are required to hold the original chain coins, before splitting, and therefore new forked airdrops will be dropped to you. The most popular fork which happened in August 2017, was Bitcoin Cash.
Beware Of Scams In Airdrops
To participate in airdrops, you need to be aware of scams. Now it will make anyone scratching their head as to how is it possible when everything is ‘free’. It might seem weird to you, but it is true. The prying eyes of scammers are everywhere to pounce upon for exploiting the airdrop area also. Yes, there is a possibility as nothing is free, completely. These scammers are clever enough to grasp all the personal data provided by you, at the time when you participate in airdrops. These notorious people will smartly sell it and can reuse it in the upcoming years.
Participate In Airdrops With Safety Rules
If you are keen to participate in airdrops in huge numbers, then better follow some safety measures given below:
No Need To Pay
To participate in airdrops, if any blockchain project asks you to pay for it, then get away quickly from it.
Avoid Sharing Your Private Key
This is the most important reminder for all those who are interested in airdrop participation. Avoid doing a blunder by sharing your private key. It is not safe to hand over your original wallet to someone who seems suspicious. This rule is applicable in the whole crypto world.
Generating A New Email Address
Generating a new email address is the safest method to be applied in the use of airdrops. Better use different emails when you participate in airdrops or going for registration.
Don’t Refer Private Email Address
Avoid any wrong step by referring to your private email address, as there is a possibility of multiple scams. Also, don’t share your name with projects which seem doubtful. Never go for such projects which are yet not established.
Don’t Use The Same Password For Every Website
Before you go to participate in airdrops or initiating for registration, ensure that the passwords which are being used for the websites must be different.
No Need To Refer KYC, Which Seems Doubtful
KYC or Know Your Customer, whatever you call it, should not be referred if seems to be suspicious. During the process, you will be asked for personal data including all the essential details. But better avoid if you don’t find it authentic or risky enough.
So today, you get to know a lot about airdrops, and its types. But more than that, you are being advised with following some safety measures while going to participate in airdrops. Now there are a lot of recent airdrops that can be risky with the element of scams or can be of no use. You must be smart enough to identify airdrops that are authentic. During the bearish market, these airdrops might not seem worthy for you. But at the time of the bullish market, they can turn to be worthy. So whenever, you go for registration, then better adhere to the safety guidelines given in this blog.