A cryptocurrency airdrop is a process by which developers of a new crypto invite users to participate in their ecosystem. If you're part of an airdrop, the team will give you some free coins or tokens for being among the first users to show interest.
Airdrops can be seen as a way to increase the number of people using a nascent crypto. This is because new users are more likely to look for ways to engage with the network if they feel confident in it.
In recent months, we've seen airdrops become popular, as many small cryptocurrencies see these types of releases as a good strategy to grow their user bases.
You might be wondering: what's good about them? , well, that depends on how reliable the equipment behind it is. Some airdrops offer users the ability to participate in a new project without having to pay money for it. But there are also those who charge their participants for access and simply use the money they earn from people to pay for airdrops.
El Dorado In this blog, he will explain everything you need to know about airdrops and we will give you some very important tips so that you always keep your savings safe.
What are airdrops?
Airdrops are similar to giveaways, but instead of holding a raffle, the team that develops a new cryptocurrency simply gives its users tokens”gratis“to test your network, perform some tasks, or simply to participate.
Sometimes all users who signed up for the airdrop receive tokens, or other times it's just a matter of luck. Usually, airdrops can be found on Twitter, but you have to be careful with links, many people with the help of phishing, impersonate the real airdrop and instead of receiving free cryptocurrency, you can end up losing all the ones you already have.
How does an airdrop work?
The vast majority of airdrops are free, and the most common way to receive these free tokens is to fill out a form, or if it's a complete new network, you just have to use your native token on a testnet and do simple tests.
As we told you, you can find new airdrops on social networks or crypto forums. Once you have completed the form or tasks, on a date set by the team, the selected users will receive their cryptocurrencies in the wallet they wrote previously. And voila, it's that simple as airdrops work.
Types of airdrops
- Free Tokens: These are the most common, where some users receive tokens for participating or performing some simple tasks.
- Token Bonuses: You can find coins that give you a certain number of tokens at no cost. This is different from free airdrops, as it's more like an extra gift for making use of that token.
- Vesting: In these airdrops, they give you the tokens in an account with one rule and that is that you have to keep the tokens for a certain period of time before you can receive any real value from them.
Are airdrops safe?
Airdrops are usually safe, but you should be very careful not to fall into a scam or phishing created by a third party.
If this is your first time, it is best to participate in airdrops that take place on a well-known exchange, as exchanges that host airdrops require developers to submit token reports to avoid scams.
Anyway, it's always important that you do your own research and if you don't know much about the subject, it's best to first learn enough to understand for yourself how to identify when it's a real airdrop or a simple scam.
How to know if an airdrop is reliable
The first thing to do is to look at the support of the crypto community in general, look for conversations on Twitter from reliable accounts and do some research to know people's real opinions about this airdrop. If you see that many users complain or accuse that it could be a possible scam, it's best to stay alert, as it's probably a risky airdrop.
Check the network or exchange where the tokens will be delivered, this can also help you identify how reliable the airdrop is.
One last general tip is to never use your main wallet for airdrops. Create a new one where you don't have funds and that you use especially for these cases, so you'll keep your assets safe in case something bad happens.
Airdrops are how many projects give away tokens in exchange for simply showing interest. This in turn becomes a promotion that assures them much faster growth, as new users help cryptocurrency gain traction and grow its user community.
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