Steemit Crypto Academy // Season 3 week 3 // Homework Post for [wahyunahrul]
QUESTION 1
1)What do you think about airdrop in cryptocurrency?
Airdrop in Cryptocurrency
Airdrop in cryptocurrency is a great way to let people about that very crypto coin. The airdrop act as a driving force to generate the adoption of the crypto by other investors. Investing in a particular crypto asset helps publicite the coin which will further increase the value.
Though I have never participated in an airdrop mainly due to fear, doubts and also because of adequate information. I have been seeing them on social media but did not know how to particularly go about it. I guess also I am ready to go now with the quality of information I have now.
QUESTION 2
2)How can we know about an airdrop event so that we can participate?
Listing out the various ways we can know about an airdrop event, I will list them in point form.
- we can know about an airdrop event through social networking. Using social networks, I think that is one of the great ways we can easilly learn about airdrop as it is a community of millions of individuals and informations are often shared using it. Example of such networks include; facebook, twitter, instagram, telegram.
- we can also learn airdrop events through research: with research it means, you personally surf airdrop events through the internet.
- the coming saying, your friends you keep will determine who you are. Now, it is easy to learn airdrop events via friends as well.
QUESTION 3
Where are airdrop events often held
Where airdrops are held
Airdrop events are often held in the web domain of the official website of the hosting cypto currency. This is also done by sharing the link of the event on social media.
To attract more users or participants in the exercise, some hosting companies will go as far as adding referrals to the event. This will bring in more participants to partake in the event.
QUESTION 4
Are all airdrop events free from scams? Otherwise, how can we avoid the scam?
Scams involved in airdrop events and how we can avoid them.
Not all airdrop events are real. Some turn out to fraudulent activities, as they turn to use to the opportunity to either get the participants private keys, and later withdrawing all the crypto in their wallets or using forms to collect the participants information which they use to carry out criminal activities; among others.
Avoiding this fraudulent activity means we need to carry out proper research on a particular airdrop event each time we see them. This involves checking the project authenticity and the aim behind the project. Also we should not or never give our private key of our wallet when asked. Only the public key is necessary.
QUESTION 5
Have you ever participate in a cryptocurrency airdrop event? If so, then explain. Meanwhile if you have never participated but have heard of the airdrop event, then explain it.
Actually I never participated in an airdrop event. I have always been hearing of it, but because of inadequate information I have never really looked at it.
But I have once seen an event in a crypto lesson group in the whatsapp platform. As shown in the screenshot.
QUESTION 6
Give and explain an example of an airdrop event that has passed and the airdrop was successful. Then give one more example that has been proven to be a fraud.
Successful Airdrops
####The RHOVIT.
The Rhovit platform igave away 40RBIT of it tokens. It is actually a virtual and cryptocurrency platform and also the NEM blockchain. It was done by sharing a referal link. You share a link and earn 40rbit. It was actually worth about $10, for each wach referral that signed up.
Unsuccessful Airdrops
Corbit
The corbit has been noticed as a typical fraud. They actually had a project of being a decentralised exchange with low fee.
The corbit platform made participants sign into their telegram and twitter channels and the participants will receive 30 of the coins each which was worth $6.
The channels actually disappeared over night to a new airdrop channel.
QUESTION 7
Look for examples of ongoing airdrop events, make an analysis that proves that the airdrop of your choice is good.
Ongoing Airdrop Events.
THORSwap
The THORSwap is atually known to be the worlds firstmultichain decentralised exchange. It utilises the THORChain network to give a front-end user interface in performing cross-chain swap.
They are actually airdropping 5% of the total supplyto users of the platform.
The THORswap is actually lissted in the airdrops.io website, which makes sure to perform great research on each of the tokens to make sure it is not a scam token.
Also, the token does not take participants private keys, or vital information, which shows it is legit.
QUESTION 8
Explain the steps to participate in the airdrop of your choice.
Participating in the Bird Finance Crpyto Token
Step 1: It is quite fortunate that the bird token is listed among the airdrops in the coingecko.com
Now, i log into the coingecko.com website and find the desired crypto.
