Bitcoin Forum

How to know if token from airdrop is a scam or legit?

I am joinig all of them..just takes a minute.so instead of wasting time on research i simply apply..
Btw if you got some good answer then inform me too :)

- They have products that are already working.
- Their products serve to solve that problem in the community.
- Clear long-term plan

This still boils down to investigation and even beyond the face value of the project because all those you listed there can be faked. A business with presence in a section of the market within the country that does not even have anything to do with Tue crypto industry, can be  sought then unscrupulous individuals will pull some information together to raise ICOs which is not even in anyway related to the project and because the original business does not even have internet presence, it then difficult to ascertain especially with intimating provide of the team members.

Thank you sir

I forgot another one that is tracks record of the teams and advisors coin development, Track records can not be manipulated.

How do you know this? if you get tokens for free and in most cases it's just a form with minimal actions, it's like a lottery :) only you do not invest your money ... just fill in the data and wait ..

What I usually do is to do a quick search online and see if there's anyone talking about the coin. Chances are, if it's a scam, it will be exposed by someone online  :D Otherwise I would look at the team, website and telegram groups.

Mostly airdrop coins are made just for scam but there are few legit tokens out there just claiming there are good just make sure  don't give your private keys just to get airdrop coins.. I heard someone from reddit having problem claiming airdrop coins and asking for private keys and  all of his funds are gone..
It will be hardly to find a legit token but claiming all airdrop coins will be a good idea and someday it will be worth it. to hold.

I would read up on it before hitting the go button. Understand the product and/or service before jumping in. I have invested in a few ico's but fortunately only 1 of them was a loser and the other ones have paid pretty decently. Most of the time its about how long you can hold for.

Plus the project should have legit and reliable team. And at least founders should have high quality social media profiles.

How about those airdrop need to donate eth first or whatsoever to get airdrop? I thought all airdrop is always free.. thanks for response

Its very simple, to know if its scam or legit, if its a scam the admin will go ahead and sell on etherdelta without distributing anything to the airdroppers.

check the products if they have existing products,check the long term plan,and the developers.
or you can join them instead and wait for the cois to drop if it gets pump you are lucky.

Ohhh, it's very simple my friend. All coins distributed airdrop fraudsters.

I think even scam airdrop has these plan, they want to impress the people to get interest in their scam project. Its hard to determine which is the legit airdrop coin the important is you will only claiming their free and do not invest early you must need to observe while participating in their free token airdrops. Hoping that no one will got scam by the shit projects.

You can go to their websites and check them out or you can find it as a scam if they are asking for your private kes, because all airdrops never require you to provide your private key, if they do you must doubt and do not fall for their scam.

sometimes those who ask for token donation are also scam so they can collect tokens for themselves but not all.  So you have to be careful if such things happen or go to their websites if something suspicious then its better not to participate.

Great points. Basically, to obtain this information, the best thing to do is to research on the coins or tokens. Also, take note that there are some hackers that use airdrops to hack and obtain your wallet details in fraudulent ways. So, joining blindly can have a double-edge effect because it put you on a vulnerable position.

Legit tokens are those who have a dedicated team, the token had a purpose, well planned roadmap and whitepaper while scam token are those who required you to donate some amount, forcing you to donate, asking your private keys. It's too obvious that they were scam though,  so don't fall for them.

I think some are/have collected a lot of data from airdrop participants.
I've also seen it happen multiple times that people pasted their private keys in the google doc instead of their wallet address.

there is so much we can see from airdrop. most airdrop has no future potential, does not even have a selling point in the market. so I think if airdrop that has no concept or roadmap, or white paper is not an effort to follow.

from my opinion why you need find out legit token or scam token sir. airdrop means free token so if you get any token from airdrop? you can check all about like website,whitepaper,team,roadmap
and wait for coming market like etherdelta and coinmarketcap.

Sometimes buying scam tokens is more profitable than buying the legit tokens. Regal coin and all the ponzi scams, people made huge profits like 50x, this is insane. I think I will look for scam coins and throw some money into them.

The one strategy that I look at within the white paper is to see how the proposed useage of the token is being planned. Where will the token be used and how? Those are my main questions. Afterward, I attempt to answer the question who is going to be partnered with the token, as in big company wise. The reason for this line of thinking is to understand if there will be a large circulation of a token in big business. Otherwise, the speculation usually is right that a token stalls and profits evaporate. There’s always a need in closed system such as blockchain to have directions for the flow and funneling of a token — it needs to be used otherwsie it doesn’t go anywhere.

i have experience with token scam, its name is eGBYTE. he asked to pay 0003 eth to register. and from then on I will not again make the same mistake. airdrop it should be free .. that's it. if told to pay you should be careful.

Check its website, see the contract and whatever you wanna join, don't ever give your private keys if they ask you to fill in a form registration.
Don't ever send amount of coins, especially with huge amount. It's just all alibi.

I'm not too dizzy about airdrop, if there is time then you can do it. If not, I forget it.
there are other jobs that are more promising. Airdrop is easy but not all coins can be sold mostly just a junk coin. >:(

You're looking for signals of long-term commitment to solving a real problem. You also want to see a proper application of the blockchain. If you ask "why is this on the blockchain?" and the answer seems like a cloud of smoke, then it's a sh*tcoin.

Like others have said, a working demo, or better a working product, should be a per-requisite.

scam ?, airdrop no scam unless you are required to pay for it. if you are told to pay it is mostly a scam. because I've experienced it.

When you join to an airdrop you should not expect on it because its just a free token ,be thankful if they give you a token. But if not? Just move on and look again for another airdrop, Make sure that you won't give any donation because i think that is scam.

most airdrop dont scam. Which airdrop ask for password, private key is scam. If not then that airdrop not scam, but it free token is value or not depend on their devoloper