Hello steemians, steemit crypto academy has given us the opportunity to always learn new stuffs so as to appreciate the nature of cryptocurrency. I’m really excited to be part of this weeks homework posted by @wahyunahrul.
What do you think about Airdrop in cryptocurrency?
In order for a product to be made known it requires proper advertisement and promotion. One way cryptocurrency are made known to people is through airdrop. People who participate in the airdrop are awarded with free cryptocurrency but intend doing something either by posting about the cryptocurrency on the social media platforms or referring people. I think airdrop is really nice way to create awareness of cryptocurrency to people. Cryptocurrency will not gain much value if it’s not use in a large scale by people and to make it known to people there’s the need to promote it through airdrop.
One thing I’ll say is that, whenever we engage in any airdrop activities we should be careful because some owners want to just inflate the prices of the coin in other to make quick profits so whenever investors invest in it planning for longtime they end up getting losses.
How can we know about an Airdrop event so that we can participate?
Airdrop is one of the simplest ways to make cryptocurrency made known to people by rewarding them with tokens. The organizers of the airdrop should make easy to locate since it aim at making spreading across very large population.
- one way airdrop can be found is searching for them on the internet. For instance searching for Coin Airdrops on the browser to help you locate on going airdrops. One thing we should be aware of is that there are lots of scammers and fraudsters who aim at stealing account keys to steal from those who partake in the airdrops. We should in no way give out or share our keys with anyone since it’s very dangerous.
- Another way we can find out about an airdrop event is through social media. Social media such as Facebook, Instagram, Twitter and many more connects millions across the world creating a platform to share information with lot of people across the world. We can find out about an airdrop event by following the cryptocurrency pages or finding out about it through the post of friends.
Where are Airdrop events often held
The organizers of the airdrop event provides links on their social media pages which when clicked on sends the participants to the website where the airdrop event is been held.
Other websites like Coin Airdrops provides links for users and sends them to the cryptocurrency website page where the event is held. Mostly the links have time and when they get expired they can’t be accessed.
The links on the social media pages and the other websites help to direct all users to the main page.
Are all Airdrop events free from scams?
It’s true we get free money through cryptocurrency but it’s only at the right place; there lots of scammers out there waiting for us to make the wrong decision.
It’s very important for us to find out more about a cryptocurrency before doing anything.
Some people have taken the the advantages of airdrop for their personal gains. Some developers who wants to greedy make huge sum of money lure people by organizing airdrops.
When they airdrop is organized they ask for vital informations such private posting key addresses in order to sell all your owned cryptocurrencies. Some will provide actual tokens to get you to register to their scammy site and get your private information.
Every airdrop should be carefully research into before any further involvement into it since you may end up regretting after going through it.
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)
Actually I’m new to cryptocurrency but I have heard about a couple of cryptocurrency distributing cryptocurrencies to some users, this was whitecoin.
The coin was launched in 2014 developed by people from Netherlands, Germany, Finland, Australia, and a few other countries around the world. They needed more people to invest and know more about it so they decided to make an airdrop which was aim at attracting investors and people to invest in the project.
They allocated 8,000 XWC tokens for a maximum of 2,000 winners. And the coin airdrop ended on October 10, 2020.
I founded out this on my friends Twitter account which he posted because it was required that he has to share it on Twitter, telegram supredit and other social media platforms. On every social media platforms he was expected to invite 3 friends.
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).
The oyster cryptocurrency made it first airdrop on 13th April 2018. The coin name was oyster shell token SHL.
In order to participate in the giveaway, you would be required to follow their page on Twitter and retweet the post.
You’ll also be ask to follow them on Instagram and invite 3 friends to follow them
The oyster app was also to be downloaded and signed up if you’re a new participant
During the airdrop two coins was shared the the oyster shell token(SHL) and the pearls (PRL). The SHL token was uused to pay for connectivity and Dapp operation across the Oyster meshnet whilst the PRL was used for static data retention on the tangle. The airdrop ended up being a success.
The EDOGE coin in 2017 is an example of airdrop fraud. The developers of the coin informed people they were creating a new version of the dogecoin on ethereum blockchain. The developers sent 5 million EDOGE coins to those who participated in the airdrop. After lots of people engaged in the airdrop, the coin got some value then the developers locked the accounts of all the users. Users weren’t able to perform transactions or access their account. The millions of EDOGE coins distributed among the multiple accounts were sold by the developers for their personal gains. The coin quickly lost it value and their social media platforms were not found again. Those who create crypto currency to steal from others don’t normally post much information about the coin so it’s very important to research about the coin before giving out any information about your cryptocurrency.
Look for an example of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required).
I went to www.airdropalert.com to check if I’ll get any ongoing Airdrop, luckily for me I found the Kaiken project airdrop. I went to my browser to found out more about the cryptocurrency.
$KAIKEN holders would be able to perform the following:
- Approve the proposed roadmap.
- Vote on proposals and prioritize implementations. e.g. Adjustments to the taxation system and smart contract upgrades/forks.
- Decide on how to use dividends and rewards from $KAIKEN lending.
- Recommend partnerships with other projects.
- Ensure the kR continues to grow.
Steps to follow to participate in The Kaiken Project Airdrop
*Visit the Kaiken Airdrop page
*Join The Kaiken Project on Telegram.
*Follow @KaikenToken on Twitter.
*Join The Kaiken Project on Discord.
*Subscribe to KaikenCoin on Reddit.
*Submit your Ethereum wallet address.
From all the what I read about I didn’t see any part of the airdrop requesting me for my private posting key giving me clear idea that it’s good and it provides more information about the project.
The airdrop will end on 30th July 2021.
Explain the steps to participate in the Airdrop of your choice. (Screenshot required).
Since I carefully made my research on the cryptocurrency I decided to participate in the kaiken project.
To participate these are the steps
*Visit the kaiken airdrop page using the link Kaiken Airdrop
- Click on continue and enter your name and email address
- After entering your name and email the next task is to follow them on Twitter, telegram, discord and finally dropping your ethereum wallet address
After doing all this the system is going to pick only 100 winners with each receiving a token of 100,000 KAIKEN which is worth $10