What Is Airdrop in the Crypto World? How to Find Genuine One
Curious about free money? Who isn’t, right? Well, in the crypto world, there’s one legit way to snag some free crypto, that is through Airdrops.
So, what’s an Airdrop?
In general, Airdrop means, at times of war, natural disaster, or other forms of crisis where the lives of people have been affected in places that are difficult to access by land, airdrops are carried out to provide essential supplies to people trapped in those zones.
But in the crypto world, it’s like a special delivery of coins or tokens to crypto wallets, all for free. It’s like hitting the jackpot, but in the digital realm.
If any new cryptocurrency or token is coming to the market they offer some free crypto or tokens initially, but that free offer is to the existing crypto holders of a particular blockchain currency, like Bitcoin or Ethereum.
For example, Steller is a new currency and they decided to give their currency for free to Bitcoin holders, automatically Bitcoin holders are eligible to take free Stellers.
Now, you might wonder why anyone would just hand out free money, right?
Why Airdrops Occurs..?
Airdrop’s main funda is to create hype and buzz to distribute the whole supply of coins asset.
Airdrops are all about creating a buzz. It’s like throwing a party and inviting everyone to join in on the fun. But beyond the hype, there are some solid reasons behind these giveaways.
#1 Awareness about new crypto.
it’s a great way for new cryptos to get noticed. By dishing out freebies to holders of popular coins like Bitcoin or Ethereum, they’re spreading the word and drumming up interest.
#2 Rewarding Early Investors.
Many cryptocurrencies just want to give a reward for their early faithful supporters and investors who first bought their crypto.
Airdrops are a way for crypto projects to show their appreciation to the folks who believed in them from the get-go.
#3 Early Distribution of Total Token Supply.
One proper reason for airdrops is to evenly distribute the total token/coin supply. By handing out tokens far and wide, they’re ensuring that power isn’t concentrated in the hands of a few. It’s like spreading the wealth.
#4 To Generate Leads.
To be eligible for Airdrop, sometimes you have to fill up the form, in exchange for getting free crypto Tokens.
By asking folks to fill out forms or jump through hoops, they’re collecting valuable info for future campaigns.
#5 Marketing and Hype.
This is the most common trend nowadays. Airdropping coins/tokens for marketing and collecting leads for further business opportunity expansion.
These are all some of the reasons why most Airdrop occurs.
Nowadays Airdrops are one of the popular ways to scam people.
If you want to participate in genuine Airdrop then, I made a list of the important characters in genuine Airdrop.
How to Find Genuine Airdrop?
Check For Website.
Many genuine airdrops have their own website, while others may use Google Forms.
However, top-notch projects usually host their airdrop/bounties on their own site.
Make sure to look for a website and ensure it has a secure HTTPS connection.
Review Social Channel Links.
Having a professional-looking website doesn’t always guarantee legitimacy.
Dive deeper by checking for team details and social links. A proper team indicates a credible project.
Also, reach out to team members to inquire about their projects and future plans.
Don’t forget to explore their social media presence, as legitimate airdrops are usually mentioned somewhere.
Ask Experts and Check Coinmarketcap.
If you’re unsure, seek advice from crypto experts.
If you do not know any experts then, there is a website called Coinmarketcap it has all cryptocurrencies listed on the website and also it tracks all crypto prices.
Check for that Token/Coin whom you want to invest in Coinmarketcap.
Grammatical and Spelling Errors.
Legitimate airdrops usually maintain professional standards.
While some projects may have grammatical errors, genuine ones address these issues promptly.
If you spot errors and receive no response when informing them, it’s likely a red flag.
Avoid Withdrawal Requests Without Purchases.
Be cautious if an airdrop offers “free” tokens without requiring any cryptocurrency balance in your wallet.
Legitimate airdrops typically require some cryptocurrency balance for verification.
They Ask for Donations.
Airdrops should not require any upfront payment. If they ask for donations upfront, it’s a sign of a potential scam.
Promise Decent Amounts of Money.
If an airdrop promises significant returns within a short period, it’s likely exaggerated. Such claims are often used to lure unsuspecting investors.
They use well-known IPs.
If they’re claiming to be associated with a well-known Intellectual Property or Company, then they’re either scammers or it’s a low-quality project.
They Ask for a Private Key.
In almost all airdrops, you should fill in a form like your name, e-mail, and parent currency wallet address.
Additionally, never provide your private key, as legitimate airdrops only require basic information like name, email, and wallet address.
It Doesn’t Feel Right.
If something feels off, trust your gut and avoid signing up or providing personal information. It’s better to miss out on a few bucks than risk falling victim to a scam.
These are some ways to keep a distance from a fake airdrop.
If you have any other points to add then, please share them in the comments.
If you like this post, feel free to share it with your family and friends.
Also, here are some of the X (Twitter) handles that give you genuine Airdrop alerts.