Crypto Airdrop – Free Crypto – Free Crypto Tokens
A crypto airdrop is like money falling out of the sky! Just a few years back it was, like getting free money. Free crypto tokens are still available; however, a bit more challenging. Currently, there are over 2,000 cryptos and growing. Not all crypto airdrops are guaranteed home runs. However, the upside of a crypto airdrop is you don’t have put out some real cash.
Initially, token projects used airdrops as a tool, for which early adopters of a token were rewarded. In addition, an airdrop strategy was a way through to develop a sense of community for the project. An early example, was the OmiseGo airdrop, which gave OMG tokens to those within the Ethereum network. At the time the e-wallet was built on top of Ethereum’s blockchain.
What is a Crypto Airdrop?
Crypto airdrop allows to distribute crypto token or coin, for free, to a number of crypto wallets. An airdrop is a marketing strategy to gain attention by followers with the intent of increasing the user base. It’s basically free marketing for the token and to get brand recognition. A secondary reason, is to give free tokens, to further decentralize the crypto currency.
Most Crypto Airdrops are based on tokens. Most tokens are based on the ERC20. A few are based on Bitcoin.
What is an ERC20 Token?
ERC20 stands for Ethereum Request for Comment; while the 20 is the number that was assigned to this request. The majority of the ERC20 tokens are issued on the Ethereum blockchain or ERC20 compliant.
What Does it Take to Participate in an Airdrop and Get Free Tokens?
- Get an ERC20 wallet. You can not use your exchange wallet.
- Sign up to top social websites and require a few simple media tasks.
1) Get an ERC20 Wallet:
Getting an ERC20 wallet is an essential part of participating in airdrops. Airdrop providers will require an “ERC-20” compatible wallets. Also, known as an Ethereum wallet. Most Airdrop providers will not send tokens to an exchange wallet. Ethereum wallets come in:
- Desktop, Web, or Browser wallet.
- Hard Wallet
Crypto Web Wallets Run On the Cloud
Crypto web wallets run on the cloud. As a consequence, web wallets weakness is consisting access from multiple devices.
Yes, a crypto web wallet are practical. One the other hand, web wallets are susceptible to theft. Unfortunately, web wallets have long history of rip-off and scams.
Exodus One of the Best Desktop Wallets-
One of the best web wallets is Exodus. Exodus an all-in-one wallet app that holds your private keys. There are no hosted servers and it allows to protect your data. The wallet interface provides a graphic of your holdings and breaks it down into types of crypto.
MyEtherWallet A Fantastic Desktop Wallet for Your Crypto Airdrop-
A fantastic desktop wallet is MyEtherWallet. MyEtherWallet is an interface that generates private and public keys. The actual handling of your keys happens within your PC. MyEtherWallet does not store this information. Both private and public keys are stored on your PC.
Hard Wallets for Holding Your Crypto AirDrops
Either hard wallets allow you to protect your crypto assets. Both hold the most popular cryptos allowing for storage, transfers or transactions.
Both the Ledger or Trezor can interact with the MyEtherWallet website.
Currently, the Ledger provides one model the Ledger Nano S with incredible features and includes is own proprierty operating system the “BOLOS.”
While Trezor provides a line of products from the Trezor one to the Trezor Model T with back up features. All making it easier to getting your crypto tokens.
2) Sign up to Top Social Websites- Crypto Airdrop
The project’s airdrop will require to task several social media sites like Face Book, Twitter, Reddit, Telegram, Instagram, etc.
Be prepared and create the social media accounts before hand. This will save you time and assist in completing the social media requirements for the airdrop.
The airdrop will require you to friend and like in Face Book; while Re-Twittering in Twitter.
Some airdrop projects will ask for your public key to be provided on site or in a Twit. In some cases, the project instructions require joining the project’s Facebook, Telegram, Reddit, and Twitter communities; while fulfilling certain requirements before receiving the free tokens. In addition, some participants earn more tokens for every referral, if the project consists of a referral campaign.
What To Look Out For When Getting Crypto Tokens- Avoiding Crypto Airdrop Scams!
As we know crypto airdrops are a great way to earn some crypto with almost to no cash layout; however, there are many crypto air drop scams.
Never give your crypto private keys to anyone. Private keys were meant to be keepted private. If a project asks for your private keys, do not participate in that airdrop project.
Most participants are trying to make quick profits with crypto, and an unwitting participant signs up to a scam at the lead page. It’s wise to avoid airdrops requesting your private keys. With your private keys, the perpetrator will go into your wallet, and take the ether or tokens from you. Send your private keys is 100% sure thing , your wallet’s contents will be taken.
If the project is asking for personal information, then it could be a scam similar to phishing. The project may ask for personal information for verification registration purposes.
It could be a scam, if the project is asking you to send them tokens for an airdrop.
If the project asks you for cash, it’s probably a scam.