[Beginner Course] Steemit Crypto Academy Season 3 Week 3 homework post for @wahyunahrul | Airdrop - Giveaway In Cryptocurrency
Thank you so much professor @wahyunahrul for this lesson. It's a great pleasure to learn about the Cryptocurrency airdrops. I guess after now, I'll be more interested in airdrops. Below is my homework task for this lesson. Please join me!
1). What do you think about Airdrop in cryptocurrency?
Aidrop in cryptocurrency refers to the act of giving out some cryptocurrencies for free to some group of people who partake in an AirDrop event as a form of promoting a cryptocurrency. It is a marketing strategy used by developers of a cryptocurrency to promote such coin. Coins are sent to the wallets of people who get active on the block chain or meet certain requirements, with an expectation of pulling large investors to invest in the cryptocurrency afterwards.
Airdrops are a way of creating awareness about a coin and hence should be purely promotional. It should not see capital investment as a prerequisite for such offerings. In as much as an Airdrop attempt to make a cryptocurrency stand out from the rest, there are several fraudulent activities in disguise as airdrops. People ought to know an exercise care in selecting the AirDrop events to partake in.
2). How can we know about an Airdrop event so that we can participate?
There are various ways to get some knowledge about an AirDrop event.
First, one can read about an Airdrop event in a blockchain news or on a blog that makes cryptocurrency updates such as AirDrop King and AirDrop Village (These are sites that gives airdrop updates).
Also, we can make a research or surf the internet to discover some upcoming and ongoing airdrops, but this way, care must be taken to avoid scams and other fraudulent post.
Thirdly, another way of getting cryptocurrency airdrop notifications is by belonging to a social Media platform like telegram groups where updates are shared regularly about some airdrop events.
Also, we can get information about some ongoing airdrop events through referral link sent by friends, etc.
3). Where are Airdrop events often held?
Airdrop events are generally held on a cryptocurrency blockchain or companies' websites. They may also be held on an exchange for users. All that needs to be done is for the completion of all tasks required by the developers which may include answering some questions about the coin or sharing and promoting the cryptocurrency on certain social media platforms. Before any registration is done, individuals must be sure to read about the developer as well as the rules involved before providing relevant information.
4). Are all Airdrop events free from scams? Otherwise, how can we avoid the scam?
Definitely, there are some scam airdrops which we need to carefully identify in order not to fall victims. There are several types of airdrops such as discussed in the lectures. Such as; Data theft Private key theft, referral scam and dump Airdrop, etc. Now in order to detect and avoid these scams, here is what we should watch out for;
First, avoid giving out your private keys. Any a drop events that requires private keys to our wallet must be avoided for security purposes. They are most likely scams.
Secondly, try to know the track record of the program developers. More often than not, Airdrop scammers do not have any track record. They just appear and disappear.
Thirdly, airdrop that promises a huge amount of coin should be avoided. Those are likely to turn out as dump airdrops.
Fourthly, before filling any form on a website, do your research and be sure it is genuine to avoid data theft.
Let, scammers do emulate another ongoing airdrop by fabricating a company's identity. This is known as airdrop look-alike. It is important to know the real identity of an airdrop event and its developers in order not to be a victim.
5). Have you ever participated in a cryptocurrency Airdrop event? If so, then explain. Meanwhile, if you have never participated but have heard of the Airdrop event, then explain it. (Show proof with screenshot)
I haven't really participated in any airdrop event probably because I felt it was just a little token that will be so insignificant and so its not worth my time. But I'm very much aware of them. I even belong to a group on WhatsApp where links are shared on a daily basis about ongoing airdrop events.
Binance nft airdrop is one of the airdrop events that happened last week. Didn't require much. Just Twitter username, email address, BSC wallet address and optional referral. Participants were to follow the steps and complete all requirements to claim one BINANCE NFT worth $10 to $1000 USD. Below is the screenshot of the airdrop page.
6). Give and explain an example of an Airdrop event that has passed and the airdrop was successful. Then give one more example that has been proven to be a fraud. (It is not allowed to take the example that has been taken in question number 5).
XankWallet airdrop giveaway happened in February 2021 and was very successful. I attempted to register but there were many people that partook in it, hence, the traffic was huge. Many of my friends did and got their gifts. The Xank AirDrop didn't have much requirements, only registration and email verification. People got up to 300 and more XANK.
On the other hand, one airdrop event that turned out to be a fraud was the trustwallet airdrop that was circulating in 2020. This happened as a result of look-alike airdrop scam as mentioned above. Many people were victims of this scam and money got lost. The AirDrop promised 15 ETH and 25 BNB. It asked for sensitive information like private keys and at the end of the day, people lost so much money.
7). Look for examples of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required).
V Dollar exchange airdrop is an ongoing airdrop designed to promote the exchange and its coin, VDollar (VD). I am convinced of the genuity of the AirDrop because first, it doesn't require any personal information apart from email verification.
Also, you don't need to deposit any money or pay for anything before participating.
All that needs to be done is signing up with the exchange and then wait for distribution.
screenshot from their YouTube advert
8). Explain the steps to participate in the Airdrop of your choice. (Screenshot required).
The steps required for participating in the AirDrop event are simple.
Visit the website of the exchange via https://m.vdollar.online and fill the signup form.
Wait for distribution.
This giveaway is for people that are using the exchange.
Thank you so much for your time! I really appreciate.
Cc:
@steemitblog
@ateemcurator01
@steemcurator02
@wahyunahrul