Airdrops Are Making More Waves In Crypto Space
There has been lots of waves around the crypto space since the most recent Bitcoin halving and prices of tokens have been moving up and down and it has drawn the attention of many investors to crypto However, amongst all these kinds of excitement, another variety and trends has come up which is the airdrops. Though there has been airdrops running in the crypto space, but recently it has increased drastically We now have new projects launching giveaways of free tokens for tasks or simply for having certain cryptocurrencies. Such airdrops have turned out to be a marketing strategy through which projects can create awareness and also acquire a large number of users in a short span of time.
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Due to the increased number of fake airdrops, users are having a difficult task of trying to differentiate between a legit airdrop and a fake one. While this may be tempting for users to try to get into as many airdrops as possible with the chances of winning the big one, it also comes with the risk.
Well, then how can users avoid the airdrop craze after bitcoin halving and be on the safe side?
Before participating in any airdrop, it is crucial that you carry out research that would help you know everything regarding the airdrop you are joining. Yesterday a friend of mine sent me an airdrop link , the task was very simple on referral and the rewards was so big that I had to go make research on it, I was very surprised to see a project giveaway such big value of tokens as airdrops with just a simple tasks s referral to get $16 and while making research i discovered that the main project owners are not give free tokens rather so fake guys somewhere else are just framing it t up. It is very important when participating in airdrops to Find out as much as possible about the project, read the whitepaper, and looking for opinions from other users. Be wary of terms like ‘opportunity’, ‘get rich scheme’ or anything that has a shocking element to it. This is a very good adage that I have learned, that if something seems too good to be true it probably is. Because must people will just end up wasting their time, data and effort for something that won't profit them.
Another thing is that to avoid falling victim to fake airdrops there are some risks that you should not take, such as giving away your private keys or wallet address to anyone. No legitimate project will request for this information Because they are ment to be private.
It’s necessary to follow the instructions given during an airdrop and check the information provided twice. A slight error in the process or even omission or provision of wrong details could make you not to receive your tokens.
For airdrops, it is also advisable to create a new wallet address that would not contain the actual funds that you have. Thus, when one realizes that project is a fake then the individuals cannot lose their hard earned Cryptocurrencies.
Finally, it is also important to consider the value of tokens that the airdrops provide you as well. Even as it may be alluring to sell them as fast as possible and make some quick money, the better approach is to sell them for the long term. The main idea of some airdrops therefore is for them to become an asset in the future in case the project succeeds.
Therefore, the most recent Bitcoin halving has led to an occurrence of massive airdrops across the crypto market. Although some of these opportunities can be highly paid, it is advised that users should be cautious taking into consideration that the risks, associated with the services are real. Being very cautious as a user, following the aforementioned tips, users can avoid the risk of scams while making the best out of prominent airdrop mania after the Bitcoin halving.
Posted Using InLeo Alpha