New to cryptocurrency? Don’t have funds to invest in cryptocurrency? Then welcome because this is one of the articles you must read. First of all, Crypto airdrop is one of the best cryptocurrency earning methods.
Because it’s simple. But there’s a catch! Let me show you everything. Here is the ultimate beginner’s guide to cryptocurrency airdrop.
Also, I’m going to show you how to participate in a crypto airdrop in the right way. Keep reading.
I have posted an article about cryptocurrency earning methods recently.
here is the link if you want to check that out also.
Before getting into all of that, Let’s find out what is a crypto airdrop first.
Basics Of Crypto Airdrop
Crypto airdrop or in other words, Cryptocurrency airdrop is a free coin or token offering campaign basically organized by a new project known as Initial Coin Offering.
Why are they managing to open an airdrop campaign?
The main expectation is to gain more sales in the ICO. And how are they achieve this goal by managing an airdrop campaign?
This is where the airdrop action comes in. There are few tasks to do in order to receive the airdrop for free. It’s like some social shares, Likes, Creating posts, etc. These all tasks for promotion.
So basically, The coin organization gives you free coins/tokens, if you completed like above things related to the ICO. Simple right?
Okay, let’s jump into the step by step process on how to participate in a Crypto airdrop.
What Do You Need To Get Started?
- Social Media Accounts (Facebook, Twitter, etc.)
- Bitcointalk Account
- A Compatible Wallet
Basically these are the requirement in order to participate in an airdrop.
Here is the true story.
In some airdrops, Developers pay you more if you got higher followers/friends on your social media. It’s like, If you have 100 friends on Facebook you will get 50 coins/tokens. If you have 1000 friends, you will get 100 coins after completion.
But its not always like that. Few of them.
Bitcointalk is the largest bitcoin/cryptocurrency forum that exists.
It is not a must requirement to participate in airdrops. But in some of them, you need to post on their main bitcointalk thread about the airdrop.
But it is always useful to create and rank up a bitcointalk account. I will show you why.
Finally, You need a wallet to receive tokens/airdrops. Most ICOs these days are using ethereum based blockchain which is known as ERC-20 based tokens.
Good to hear because it is so simple to set up and maintain an ethereum wallet. If you’re a beginner to this as well, Check out this article about Ethereum Wallet.
Only some airdrops require different types of wallets. Then you have to create a compatible wallet to receive tokens/coins.
Once you set up your wallet, You all set!
How To Participate?
First, you need to find airdrop opportunities. I will link some resources to find crypto airdrops.
But, let me explain something. You know that a lot of ICO scams going around. In that kind of situation, Your time will waste if you did a marketing process for a scam ICO airdrop. Because you will not receive any tokens or coins.
To avoid that, You should research the ICO project. This will help to avoid scams and to determine a perfect airdrop opportunity as well.
Let’s find out where we can find Airdrop campaigns.
There are a lot of ways to find quality airdrop campaigns. But as I said earlier, You should research each airdrop you are going to participate in.
AirdropRating is one of the best resources around. And it is a blockchain resource as well. As a beginner, I recommend this airdrop resource for you.
2) Bitcointalk Forum
Here’s why I mentioned creating a bitcointalk account is worth. Bitcointalk is a massive cryptocurrency forum that helps to find ongoing airdrops as well.
The best part is we can even research about an airdrop on bitcointalk. Stay up to date with crypto airdrops in bitcointalk.
3) Airdrop Alert
This is a website filled with all the ongoing airdrops and its data.
If you have a Telegram account, It’s super easy to find airdrops. A lot of airdrop alert telegram channels out there. Even some airdrops, running through a telegram bot. Check that out.
There are many ways of participating in an airdrop. But most of them, need you to fill a google forum and submit. In that forum, you also need to add links to prove your social shares and other stuff.
However, there is also some kind of airdrops, that you don’t need to do anything. Simple signup and you will receive tokens/coins. But most of them are cryptocurrency referral programs.
Let’s have a look at some different types of Crypto Airdrops.
All you need to do is complete the tasks and submit the progress. And that’s it. Developers announce when is the distribution happens.
Key Factors That You Have To Consider When Participating An Airdrop
You know that when creating some type of wallets, you get two different types of keys which are public and private keys. These both are really important for both purposes.
The private key is used as a backup method for your wallet. So you have to store it securely.
The public key is the address of your wallet. To receive coins/tokens, this is your address. So for the airdrops. So always double-check your wallet address before submitting it.
2) Avoid submitting your private email
There are a lot of cryptocurrency scams. and you are not comfortable sharing your name with projects that aren’t yet known and established.
3) Don’t use your main wallet address
It’s always safe. You may know that every ethereum address can be tracked at etherscan.io. So your wallet can get pished anytime. Then I think it is safe to use a different wallet to participate airdrops.
4) Don’t fund for airdrop programs
Airdrops are completely free coins/token earning methods. So If the project owners asking you to pay for them in order to participate in the airdrop, Take your foot back.
5) KYC Requirements
KYC Stands for know your customer. And some coin projects want you to verify your identity in order to participate or receive coins/tokens. If you are curious about this, better research the project and make a decision.
Because you don’t want to give personal details to an unauthorized establishment.
Alright, That’s it for today’s article. I hope you learned something from this article. Don’t forget to share.
Also, I would love to know your opinions and ideas.
Feel free to leave a comment down below.