Free Coin of the Day 2/16/18: Woter Airdrop, How To Enter for 20 Free WOT
Today's "free coin" is Woter (WOT). Woter describes what their building as "the next generation hybrid decentralized exchange where you can trade cryptocurrencies & fiat in a secure model. Your money stays in your wallet until you trade."
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Woter is offering 20 free WOT coins for new early adopters who create an account (no promotion required) on their new platform before March 1st. The website and available information is basic, and their whitepaper is scheduled to be released on 3/1/2018 according to their website, which is also when their ICO token sale begins.
The Coin
I like to evaluate the actual use of the coin and if it's needed, or even useful in some cases, before spending a few minutes of my time entering an airdrop. If a company has no use for a coin, they shouldn't be using one. Exchanges have a very clear use for their own coin, as we've seen in the case of Binance (BNB), whose coin has grown from .79 to over $10 in about four months. The WOT token has a purpose and could become successful if the exchange is well-built and accepted by traders.
Potential
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As mentioned above, there is not a lot of information about this project available yet. This project looks to be in its very, very early stages. Once the whitepaper is released, we'll be able to know more about the actual potential of this project, including the team's ability to accomplish what they are setting out to do.
IF they are able to create the trading platform they envision, there is a significant amount of potential. We've seen many platforms emerge (and disappear), but I do like this message shared in their "presentation paper:"
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I interpret this as the exchange promising to pay frequent and constant dividends to token holders based on the revenue generated from trades. This can be accomplished in several ways, but I imagine it will work similar to a proof of stake system where the WOT token is collected from trades as fees, and then distributed among token holders. If successful (which is a big if of course), then even a small amount of coins, like the 20 you will receive from this airdrop, could grow significantly over a few years if the exchange is adopted by cryptocurrency traders.
Bounty Requirements
Woter has an active airdrop that only requires a user to create a basic account. Simply enter your name, email, create a username and password, enter your ERC20 compatible ether address (public key only), confirm you aren't a robot, and click 'register.' As mentioned, you do need to have an ERC20 compatible wallet in order to receive your free coins (I use MyEtherWallet).
See the video below for a walkthrough.
Walkthrough
Links
As with all projects, cryptos, and ICOs, make sure you are using the right links and not visiting spam domains created as a scam. Airdrops and bounties give free coins in exchange for trying out a new platform, signing up for a newsletter, etc. These are different from ICOs where you are paying money (sending cryptocurrency) in exchange for coins once their sale is complete. Here are the links for this project and airdrop:
Homepage (until project launches, then it will switch to Woter.io): https://woter.trade/
Airdrop (my referral link): https://woter.trade/?mref=14063
Main Airdrop Page (w/o referral link): https://woter.trade/register/
Presentation Paper (whitepaper will be available on 3/1): https://woter.trade/woter-presentation/
What Is Free Coin of the Day?
Free Coin of the Day (FCOTD) is a new effort I'm launching to help other amateur cryptocurrency enthusiasts like myself get involved in cryptos without having to spend thousands of dollars. Each day we'll pick one coin to cover, and I'll give you specifics on how to earn that coin for free. Please upvote this post and follow me if you're interested in joining this new effort.
Get More Free Coins
This is the fourth #FCOTD post. I released a little early since tomorrow is Valentine's Day and I want to spend time with the family instead of posting all day. Past free coins that you may or may not still be able to grab include:
nice post,thanks for shearing.
Hello, thanks for the good review, the whitepaper is released early here:
https://woter.trade/whitepaper/
with basic information on how the project is heading.
Great, thanks for adding, didn't know it was out yet!