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September 20, 2018, 05:24:39 PM
Last edit: September 21, 2018, 07:46:14 AM by Banemu |
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As a first timer;
Before you readily jump into airdrops, there are basic things you should understand or be told that will help you understand funny situations when they definitely arrive. For example, if i had known what 'PRIVATE KEY' meant, i would have guarded myself better if someone or a link requests for it. So, i will state out little key points for new users, these key points are very delicate and will help you instinctively know when something could be fishy or weird. They are;
1. Private and public key
2. Difference between exchange wallet and erc-20 wallet
3. Difference between airdrops and ico
4. Importance of reviews
5. KYC
6. Phishing
7. Patience, yes, this is a good deal to understand else you will fail to calmly make needed survey
Participating in airdrops and its counterparts, it can be frustrating when you notice your time, effort and participation in general has been a complete waste. Now, i have come to understand that there are different fake airdrops out there with different end-results.
LET'S BEGIN;
First, as someone getting to understand airdrops as 'free coins', i asked myself why would people create fake airdrops and to what end. To the best of my knowledge, a fake airdrop can be profitable to the owners in the sense that your information or identity can be stolen and used for other reasons like participating in real airdrops, yes, scammers know real airdrops and also participate in them and use stolen details to claim more. Also, like in my case when i started, you could lose your private key to a cloned or fake site asking for it thereby, leading to your wallet being intruded and have your coins stolen.
DONATIONS : Why would you need to send any money to get an airdrop? I’ve never donated to an “airdrop” to get more coins, because at that point, it’s more of an ICO. It could be legit, but I find most quality projects will run their ICO through their website and not some Google form.
PURCHASING TOKEN : You can not withdraw or transfer your token without purchasing similar token. This becomes a requirement until you and your referrals. This could be a way to identify fake airdrop. Shady? Definitely.
PRIVATE KEY/KYC : Asking you to share your private key or personal ID and delicate information. This could be done in various ways, a link sent to your through your mail or by an app(telegram). Some times, you could be contacted by someone claiming to be an admin asking for these information. This is where i fell and it became a horrible experience for me.
Brand new accounts : Unless it is a brand new project, there should be some usage history and review. Carefully observe new social media accounts or bitcointalk accounts posting airdrops.
INVALID/LATE TOKEN : In the past ICOs have given away valuable assets. However, things have changed sadly, from tokens not ever received to tokens having no value or trading access
If they’re claiming to be associated with a well-known company, they’re either fake or offering low quality which in total is mostly time wasting and could end disastrously.
INSTINCTIVELY DISTURBED :Yes, you could lose getting some good tokens, but you could also have avoided getting phished or scammed or having your information stolen and sold. So, if you feel uncomfortable in your guts, then back off.
EMAIL VERIFICATION : If an airdrop is done on a website, there should be confirmation. If there isn't, in my opinion, i would recommend you walk carefully.
With all that, this is my own personal experience guide confirmed. There are several other means out there and most of them are solely built out of keen observation and patience. Also, nothing can be better than your own personal observation as you go on. If i missed a point or stated a wrong reason, i would appreciate a correction as well as different views outside mine.
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