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Airdrop: the Easiest Way to Get Free Tokens. How-to Guide

This article describes who and why gives away cryptocurrency and how to get coins for free.

Read time: 6 min
Cryptoassetsrank.com Published on Jul 18, 2018
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This article describes who and why gives away cryptocurrency and how to get coins for free.

What is an ICO airdrop?

An airdrop is a distribution of free tokens. For the participants, it is a quick and easy way to make money, and for the project, it is a promotion. An airdrop campaign is often confused with a bounty campaign because in both cases the participants get paid for the project promotion but there are two main differences:

  1. Participation in a bounty campaign requires special skills, for example, programming, design, knowledge of foreign languages. For a bounty campaign they want competent people, while for an airdrop there are no special requirements. An airdrop implies elementary actions that any person can do.
  2. A different size of reward. For participation in an airdrop campaign you can get up to 50-100$, while for participation in a bounty campaign — from $100.

Types of airdrops

Stimulating airdrops. The participants are given free coins for:

  • signing up on the website;
  • subscribing to the Telegram channel;
  • likes, comments and reposts on social media;
  • filling in a questionnaire;
  • indicating the ETH wallet address.

Automatic airdrops. Airdrops are used by startups that sell hard fork coins. These are cryptocurrencies that appear as a result of a change in the code of another cryptocurrency. The developers deliver the coins to those who have the hardfork’s “parent” (original coin) in order to show its improved variant.

For example: Bitcoin Cash, Litecoin and Bitcoin Gold are Bitcoin forks, that is why during an airdrop of these currencies only the owners of the original coin can become the airdrop participants. How many free coins you will receive depends on the amount of the original coins on your account.

“I’ve got some tokens in my wallet”

Sometimes the owners of ETH wallets get the tokens that they have not bought. These are the coins sent by the project team to random wallets in order to heighten the interest to their project. Marketing specialists believe that if you find a surprise token in your wallet, you will start looking for information about it and ask other people in order to understand what you have got. Then you will find the project website, read the project terms and conditions and might get interested. This is a way to attract investors.

The OmiseGo project is delivering its tokens

How to take part in an airdrop?

In order to take part in airdrops, you will need the following:

Active Ethereum wallet. A personal wallet compatible with ERC20. ERC20 is a standard for the tokens based on the ETH platform. Before it was introduced, there had been problems with compatibility of different tokens based on Ethereum: in order to work with a new token, the developers had to write a unique code. A lot of time was required to support all the tokens, and the system was running slow and had glitches, that is why the developers created a unified protocol for all the tokens (ERC20).

The wallet must be active, i.e. you need to have made at least one transaction because the wallets are checked before the airdrop, so that the coins are not delivered to the unused wallets.

Examples of wallets:

  • MyEtherWallet. It is one of the most popular wallets. The main advantage is that it does not keep your money “in itself”. The money is stored in blockchain, while the wallet helps to work with it via authorisation. It is safe because only you have access to your money. Remember: if you lose the seed phrase, you will not be able to enter your wallet and will lose your money.

MyEtherWallet interface

  • MetaMask. It is a light online wallet in the form of a plugin for Google Chrome or Mozilla Firefox browsers that can be synchronized with another device.

Metamask interface on a mobile device.

  • ImToken is a smartphone application. There is a built-in support for monitoring the most popular cryptocurrency exchanges.

ImToken interface

Telegram and Twitter accounts. One of the airdrop tasks is to subscribe to the project channel or page. The account requirements are as follows: the account should be over three months old, there should be over 300 followers, 80% of which are real people. A twitteraudit page can be required.

Twitteraudit interface

Do not unsubscribe before you receive the coins, otherwise the task will be considered unfulfilled and you will not get your reward.

Email address. You will need an email address to subscribe to the project newsletter.

Bitcointalk account. Every participant of the forum has a rank: from “Newbie” to “Legendary”. The higher the rank, the higher is the reward of the participant in airdrop and bounty campaigns.

How to avoid airdrop scammers?

Do not send your wallet key. If someone needs to see your balance, you can use Etherscan, where there is information about the blocks, transactions, smart contracts, wallets and all accounts.  

Etherscan.io interface

Do not send the money. Remember that such airdrops are a free distribution, that is why if they ask you for money, do not participate.

Check the official sources. If the cryptocurrency creators really initiate a distribution of free tokens, most likely they will announce it in their official accounts on social media, forums, project website. If there is nothing there, it is likely that you are dealing with the scammers.

The DIW project announced the start of an airdrop campaign on its website.

Where can you find the information about the upcoming airdrop campaigns?

Most of the startups publish the information on the BitcoinTalk, Reddit and Quora forums, on social media and official websites but it is more convenient to look through the list of airdrops on our website.

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