Airdrop is a very popular term in the cryptocurrency world. Around 2016/17 there are also precedents of many people becoming rich by getting free cryptocurrency through airdrops. Let’s talk about Rye Block for example. Those who claimed Rye Block in 2016 just by filling captcha, also earned a lot of money that time. And those who held Rye block for a long time? First of all, those who spent 8 hours daily and clicked captcha got more than 5-6 thousand Rai blocks in the beginning. The current name of Rye Block is NANO, which is currently listed on the Binance Exchange. This coin, given for free in 2016, rose to $37 in 2018. Imagine you worked full-time for a week and had sales at an all-time high in 2018.
Back then most airdrops meant sure money but now most airdrops are scams. In this article we will know what is airdrop, how to participate and whether it is safe to participate in airdrop.
What is Airdrop?
Airdrops are essentially free cryptocurrency distributions. Free would be a misnomer though because very few projects offer airdrops for absolutely free. Beshirvar’s project requires you to do some small tasks in exchange for which you are given some cryptocurrency. Since it is given for free, it is called an airdrop, meaning received from nothing.
What is the function of Airdrop (Airdrop)?
To understand the work of airdrop, we first need to know why airdrop is done. Most projects airdrop cryptocurrency for marketing purposes. It means that people are given coins in exchange for some small work so that everyone knows about the said coin. However, that era is over now. Earlier though airdrops were given through social media shares, group joins etc., nowadays no good project goes this way. Many still airdrop this way, but most of their projects have no real value.
Currently, projects that are solid are airdropped based on their project/platform usage.
Is it safe to participate in the airdrop?
Currently participating in most airdrops doesn’t yield as good rewards as it used to. In addition to this, the issue of scams continues. Currently there are many airdrops that don’t actually give any rewards, instead asking you to connect your wallet to various Defi or Web3 where we don’t know what is written in the smart contract. Once you approve, your wallet may be in the hands of hackers. For this reason participating in such an airdrop is very risky. For this you need to participate only in good projects. Avoid participating in frivolous airdrops. You can join our Telegram group where we will share only good quality and risk free airdrops. Our Telegram Channel- https://t.me/coinalap_airdrop