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How to avoid SCAM Airdrop?

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Avatar for nervi
Written by   5
7 months ago

The cryptocurrency market has grown to such an extent that methods of earning some coins or tokens are the order of the day. One way is to collect cryptocurrencies by performing so-called airdrops. However, it is important not to fall prey to fraud and to distinguish between airdrops worthy of attention and fake ones.

Before we get into the nitty-gritty, let me give you a brief introduction to what airdrop is in general and what it is all about. Airdrop is a form of distribution of mostly new token just entering the market. It is a kind of reward to the user for the support and faith in the beginning of the project.
To receive a token we usually have to visit a website, fill in a form or follow a cryptocurrency account on Twitter, Telegram and so on. Often the number of tasks is correlated with the number of tokens received.

The purpose of such distribution is to widen the audience, to build a foothold in the market or to encourage investment or observation of the token.

The main problem with this approach is that we do not really know what the token is and what approach the project owners have to it. After all, we do not always have the information available due to the fact that the token is just entering the market. This is where the problem of fraud arises.

Every problem is different so I will briefly list the most common examples.
If airdrop suggests to you that the price per token is some exorbitant amount, take that as your first warning. The creator cannot indicate the amount he wants the token to be worth. This is decided by the market, among other things. So if you have 100 tokens to get and the creators write on the page that you will earn 5 dollars per token, think whether it is even worth wasting your time.

Note the presentation of the page and token itself. If the home page looks like it came out of some editor made in 5 minutes, the token doesn't even have a whitepaper, there's no idea behind it and there's no information about the team, we'd rather not get into this distribution.

This point hardly needs explaining to anyone. Don't give your private key to anyone. If an airdrop site asks you for this key, run away as quickly as possible.

I hope that with this text I have brought you a bit closer to the topic of airdrops themselves and how to distinguish truly interesting projects from the usual stretches.

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Avatar for nervi
Written by   5
7 months ago
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Thank you for your understanding about how to avoid scam airdrop..

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