Steemit Crypto Academy Contest Season 12 Week 01 - UNDERSTANDING CRYPTOCURRENCY AIRDROPS

Hello greetings to all steemians friends wherever they are, how are you today? Hopefully everyone is still in good health and can carry out all activities well. On this occasion I am back to participate in a contest held by the Steemit Crypto Academy Community in the Steemit Engagement Challenge Season 12 Week 1 with the contest theme: "UNDERSTANDING CRYPTOCURRENCY AIRDROPS"

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Crypto airdrop is a free gift of crypto assets (crypto assets) to some people or communities where in the process, the crypto assets distributed will be sent directly to the recipient's wallet. Airdrop is one of the promotional activities in marketing carried out to increase public awareness of new crypto asset products. Crypto airdrops can be leveraged to increase trading volumes on exchange platforms when they first hit the exchange.

Airdrop aims as a marketing strategy to make a person or community more aware of new tokens or crypto coins that will be or are being launched. There are various easy ways to get Crypto Airdrops, one of which is by joining the airdrop hunter community. To be eligible for a crypto airdrop you must meet several standards or conditions. Among other things, there is a minimum amount in crypto currency. Crypto wallet owners must complete certain tasks, join social media communities related to crypto investing or contribute to blockchain wallet projects.

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Then participate in promoting new crypto asset projects on personal social media and register on the airdrop provider's website. Krioto airdrops can be a method to get digital currency for free, but it is very important to do all the necessary investigations before participating in such airdrops. We can take advantage of special airdrop websites, there are various sites that track airdrops and these sites can help to track new airdrops and learn more about them.

There are several types of crypto airdrops if you look at how to get them, including:

Standard Airdrop
Prospective users must register first before receiving an airdrop. Users only register their name and email address to get the standard airdrop.

Bounty Airdrop
To get airdrop shares, we are usually only asked to repost, forward or retweet the airdrop provider's web link. Then we invite followers to join in the event organized by the airdrop provider.

Airdrop Holder
Here we are required to have a certain amount of crypto assets stored in a blockchain wallet. The number of airdrops we will get depends on the amount of our crypto asset savings.

Exclusive Airdrop
Exclusive asset sharing activities or some kind of giveaway. Exclusive airdrops are generally managed by sites or social media that have many followers. The main requirement to be able to take part in this airdrop distribution event is to be a follower or regularly check their site.

The STEEM token has been involved with crypto airdrops and has been secured as a crypto airdrop before. Even in 2020, a group of people forked the Steem blockchain to create a new blockchain called Hive. This hard fork is related to the airdrop of Hive tokens to STEEM holders.
STEEM holders are at times difficult to get a comparable amount of Hive tokens in their Hive wallet. This airdrop occurred due to local and administrative debates within the STEEM blockchain, which led to a major split. The new Hive blockchain is intended to make the platform more decentralized and region-based, and furthermore, STEEM holders are awarded Hive tokens to encourage their relocation to the new chain.

Airdrop identification is very important to protect us from all forms of fraud and to know whether a crypto airdrop is official or a scam. There are several effective ways to distinguish whether a crypto airdrop is genuine or a scam. Check the sites and accounts in detail that offer crypto airdrops for free. Scammers often create fake sites and online entertainment recordings to further their tricks. Carefully read the terms and conditions of the airdrop being offered because a genuine airdrop will have a clear and concise agreement that understands how the airdrop works.

A genuine crypto airdrop will never ask for personal data, such as account numbers or credit card numbers. Fraudsters often use airdrops to collect individual data that they can use to harvest personal data or carry out blackmail. If an airdrop asks you to pay a fee, then you can be sure that it is a scam. Before taking part in any crypto airdrop, do the necessary investigation on the project. Reading project whitepapers, checking project site social media records, and reading audits from different clients are essential to avoid fraud.

The way to find free crypto airdrops is by following crypto news sites and blogs. Many crypto news sites and websites are distributing the arrangements for the upcoming airdrop. These crypto websites can help us track new airdrops and learn about them. Many crypto networks go online to find out about airdrops and track down individuals to work with. Use a crypto airdrop bot that can help find and take part in airdrops.

Taxation of crypto airdrops fluctuates depending on the individual country. However, in general, crypto airdrop taxes are available in many countries which means each user has to pay a fee upon receipt. In Indonesia, every crypto asset transaction by users on all crypto exchanges has been taxed since May 1, 2022. However, this still has pros and cons because as a new asset class, as well as a newly developing industry, are crypto asset transactions worthy of being taxed?

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Until now I have never claimed an airdrop before, because I am new to the world of Cryptocurrency and I am still a beginner and still have to learn the basics. However, according to the articles I studied and used as references, claiming a crypto airdrop is not that difficult. We have to create a crypto wallet to store the tokens obtained from the airdrop. There are various kinds of digital currency wallets available, you have to choose one that supports the tokens you want to get. However, it must meet the airdrop requirements. Each airdrop has its own requirements that must be met to be eligible.

There are several advantages and disadvantages of crypto airdrops. When there are many crypto startups launching new crypto assets, it is only natural that the competition between these companies is quite tight. They utilize crypto airdrops as a strategy to promote new assets. They hope that their company can be more dominant than competitors. Among them, they also list the benefits of airdrops that they offer to their target market. However, airdrops are not always profitable, there are some startups that try to deceive their users by instead providing airdrops, even though this can be detrimental to users.

I also invite friends @wilmer1988, @pelon53, @albenis, @goodybest, @suboohi, @crisvera, @chant and others to join this contest.

Regards
@fadlymatch