Airdrop is a term in cryptocurrency for market their project and this strategy is common way to publish their project in the market. It's distribution of any cryptocurrency token or coin, This is usually free but in exchange you have to sign or support them. The basic airdrops rules are e.g follow them on twitter, re-tweet the said project (Repost or Forward), Follow or like on Facebook, Share some of their news on Facebook like or Comments, Follow on Instagram, or VK.com (Common use in Russia) and some other crypto related website like bitcointalk, reddit, github, Medium and more.
After you finished the said task, they will give you a rewards, Depends on the project if how much or cost they will give it to you.
Mostly airdrops posted on the airdrops websites e.g AirDropAlert, AirdropsMob, CryptoAirDrops, airdrops.io and Airdropster. You can check them on Telegram as well by searching them to the search bar.
Some Airdrops has own wallet and you have to download it, mostly on Proof of Stake or "POS". But the common airdrops are made in ERC20 or Ethereum. there are lots of way to create your own ERC wallet, The common and basic to create your own wallet is to download some crypto wallet, You can also create ERC wallet to Metamask, Etherscan, or you can google it.
So why they need to do this or what's the purpose of Airdrops?
Airdrops are common on crypto space and it's a way of gaining attention and new followers, Resulting large users and a wider disbursement of coin. One of the common strategy or term for airdrops is "SHARING" that if you have to invite or share your referral link you can earn more.
On Crypto Era mostly on 2018 the airdrops is totally abused by the community or they called it the "airdropsters" Sometimes they creating bot, creating new dummy, Fake accounts or they get their friends accounts just to partcipate on the airdrops.
FYI they called this airdrops or "Free Droppings"
Disadvantage or the Nightmare of Airdrops
1. They didn't approved your participation even you're doing perfectly correct.
2. Mostly fake Admins pm you and want to get your information and sending some amount.
3. They will get your personal Information, since you're participating you have to do the KYC and some of the airdrops need your Passport, ID's and Selfies for KYC. Without knowing it, the Crypto project will sell your personal info to some websites (FYI Personal information is very important, so please be careful)
4. You must becareful to download the fake IOS and Android project wallet (You must download it to the main website not on the side website or pop up advertisements)
5. You must buy their coin first before you get your airdrops reward.
6. Sending token but the contract address if Fake or not the real contract address
7. Sometimes the airdrops token or coins need to do swap to the correct cotnract address and if you're not active enough. the rewards you received is useless.
8. The project said your rewards is 8usd but if you exchange it to the market it cost only 2 usd.
9. Airdropster are just dump the value of the token and the owner of the project will lose and the worst dragged the project into Bankruptcy.
10. Some of the project said that the rewards is only for 15,000 participants and sad to say you're in rank 15,001.
11. After mass distribution of rewards the project will change their mainnet. Just saying from ERC to their own blockchain.
12. A scammy project with airdrop plans will ask you for your private keys to be entered at places and sometimes even fool you so that you enter your seed words in a malicious software.( DO NOT PUT YOUR SEED WORDS OR PRIVATE KEY ON ANY AIRDROPS EVENT)
13. Still existing those fake airdrops (they just want audiences to their website, social media or groups)
14. Take note projects will earn via traffic, sometimes projects enter on this just to gain traffics.
15. Fake airdrops create a dummy telegram channels ( they just adding countries name to the channels )
Thanks for reading this is just based on our experience understanding and knowledge. Now I challenge you to comment down below and put what your suggestion to avoid scam projects or what your worst nightmare about the Airdrops.
