Before I start, I want to make it clear that this blog will focus on AIRDROP, not gasdrop nor spacedrop. Airdrop is one of the many ways to earn cryptocurrency for free. Let me repeat it, FOR FREE.

In simple definition, a Cryptocurrency Airdrop is a distribution of tokens or coins to a number of wallet addresses for free. It is a way for platforms to gain attention and followers. Usually, to get airdrops all you have to do is to complete simple social media tasks and/or download an app.

I've been in the cryptosphere for quite some time and like many, (probably like you) i started as an airdrop hunter. I've had enough of people that got scammed and I, myself have witnessed some. Well, as the saying goes, "No One is a Con Man if No One is a Fool". The greedy people and those who refuse to do their research tends to be the victims of these exit scams.

Most Common Airdrop Scams

1. Airdrops only to Lure you on Fake ICO/ Pre-sale

There are platforms that conducts airdrop just before their ICO or Pre-sale. And usually, just before the distribution, they will tell you that only people who will purchase their tokens will get the airdrop.

The problem is, ICO (Initial Coin Offering) is usually used by scammers to persuade people to buy their shitcoin. A copied whitepaper, wordpress website, and a marketing hype usually attract newbies to invest and buy these ICO tokens. Expecting 100x gains in a matter of days or weeks. So wrong!

Obvious signs of a fake project are:
1. No token usecase
2. Copied whitepaper
3. Anonymous Team
4. No transparency
5. Team unable to answer tough questions / Inconsistent answers
6. No roadmap.

2. Scam Exchange

Another most common scam is fake exchanges. People must be very careful of using such new exchanges. Usually, they will give a very small amount of their native tokens for creating an account and/or using their platform. And most of the time, since its a very small amount you cant do anything with it unless you buy more or deposit funds. Beware of this scams. They can easily run away with your coins and you cant get it back.

3. Fake Wallet

Airdrops that will ask you to download a new wallet, promise you a private key or seed phrase and control your cryptos. I see people downloading app and importing their private key. Dont do it! Do your own research. Dont be fooled by this scams. There are chances that these apps will only get your keys and you will lose all your funds.

4. Send ETH

The most ludicrous scam that I've ever seen, but hey, still a lot of people jumping in. Some projects will ask people to send a minimum amount of ETH in exchange for their shitcoin. Basically, they are selling their tokens in the name of gas fee.

First of all, why would you invest to a project that has no funds to even support a gas fee? That tells you that the team wont be able to support their own platform development or in case theres a flaw. They just depend to newbie investors. Or should i say, airdrop hunters. Second, there are other ways to distribute the tokens without collecting any funds from hunters. One example is gasdrop, where you have to claim your airdrop through a dapp manually and will only spend for gas fee. Worst thing is, high percentage of projects that are doing this ends up dumping their own tokens from the developer's or teams's wallet addresses.

Ethereum, since its an open-souce network, has been the hotbed for this scams. But dont get me wrong, Ethereum is not responsible for this shitcoins. Instead, its the negligence, ignorance and greed of people who refuse to perform due diligence.

FINAL THOUGHT:
Airdrop is a fun and easy way to get involve into cryptocurrency. But always remember that we are here to profit, not to lose. Always do your own research and be wise. If you see red flags, step back. Just get your FREE AIRDROP.