Hello dear friends,

It is my pleasure to participate for the first time on Crypto Academy, writing on Beginners Level. Here is my entry.

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Airdrop-Giveaway in Cryptocurrency

"What do you think about Airdrop in Cryptocurrency?"

I think it is a laudable strategy in Cryptocurrency whereby a wider community of people acquire Cryptocurrency for free. It is like 'buy one and get one free'. This means of getting new tokens best work because many companies use it to draw more attention or interest of people to their main coin. The creators also use it to increase the cost of the original token

In addition, I feel Airdrop events give a good number of people the opportunity to own and use these asset at a low cost as well as broadening their knowledge of Cryptocurrency world and to make good profit from their trading. Like the Icelander citizens that participated in the first Airdrop event on Auroracoin. Each participant received 31.8 AUR, which is equivalent to $6.58.

How can we know about an Airdrop event so that we can participate?

This can be achieved by going through a trusted website on Cryptocurrency activities as these events are posted there and then follow through these three steps:

Get To Know The Project:

One must learn the project from the airdrop token, the reasons behind it's invention and it's usage. Determine whether it will meet the needs of the public or it's users.

Learn About The Airdrop Developer's Track Record:

Whenever a token is created, they must be a team and owner behind the scene. Hence, to determine if the event is worth taking, a well researched findings about their exposure in the cryptocurrency activities must be known - has he created one or two before, if so, how successful was it? Is he inventing it regularly? Also worthy of note is, if he has a good record free from fraudulent activities.

Read All Rules:

Before using any product, it is always adviced by the manufacturer to read through all the rules and regulations guiding the use of the product. The same applies to tokens. These vital information help you cost the project, to see if your capital can accommodate it and how much profit that will acrue from it.

From the above information, you can see clearly if they are out for business or just to decive many people.

Where are Airdrop events often held?

It is usually held through the organizers' platform, exchanges and other mediums like Telegram channel, Discord chat rooms and the participants wallet address used in trading Cryptocurrency.

Are all Airdrop events free from scam? Otherwise, how can we avoid the scam?"

Absolutely no.
In order to avoid the scam, the following steps need to be taken:

• Do not fill out data forms from any website you feel o seem doubtful. Fraudsters often use this forms to get a complete detailed information about an individual and send to their own accomplice.

• Do not provide your private key to anyone that may request for it. Note that it is only public key that Airdrop event organizers can ask for, which serve as a shipping address. Also remember that only wallet owner has access to the private key.

• Do not be quick to fill out referral link from a website that promises a juicy offer of Airdrop event, but carefully examine any of those links in order to avoid giving out our details to scammers.

• We should watch out for dumb Airdrop events, as many of the inventors do not really want to build a wider community but just to attract them and after selling their huge tokens, making huge profits, will no longer be seen again.

However, in-depth findings need to be carried out on those massive and attractive Airdrop events.

Have you ever participated 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. (Show proof with screenshot)

I have not engaged in any Airdrop event.

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The one I heard of is the APENFT Foundation. It was given to holders of these six coins: TRC20-BTC, TRC20-ETH, TRC20-TUSD, TRX, BTT and JST on TRON MainNet.

The Airdrop event was divided into two rounds. The first one started on June 10, 2021 at 12:00(UTC) to those who hold the currency up to the time frame when it was recorded and meet up the requirements. 5% of the volume will be given as rewards. 1% will be airdropped in the first month and the remaining 4% will be done once in a month, that is on the 10th for 2 years.

The total Airdrop amount is 9,999,900,000,000 NFT. Hence, every month on the 10th, 1,666,650,000,000 NFT will be allocated to the six currency holders in this way:

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All the wallet addresses will claim their airdrops, if their exchange supports the Airdrop of APENFT(NFT), therefore are adivced to follow the official channels for more information.

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. (It is not allowed to take the example that has been taken in question number 5)

The CyClean's Airdrop Event.
This Airdrop event took place 3 years ago by Steemit.com. It was held through Telegram group CyClean Not.

During this event, 40CCL (CyClean tokens) were airdropped to those who took part in this event. Everyone who joined through a referral link got 20CCL and participants were giving the opportunity to invite as many friends as they can. The ICO price of the token then was 0.001ETH.

Meanwhile, in order to participate in the airdrop event, users were asked to:

• join CyClean's official Telegram group.
• be active on CyClean's Telegram channel.
• like and follow them on Facebook and Twitter.

In fact, this Airdrop event was successfully carried out.

One example of Airdrop event proven to be fraud.

Bitcoin: Fake Elon Musk giveaway scam 'cost man £400,00'.
This Airdrop event has been proven to be fraud from BBC report. The sammer use Elon Musk. The victim referred to as Sebastian by BBC, got a Twitter news from Elon Musk as:

"Musk tweeted, 'Dojo 4 Doge?".

Then he saw a link to this Airdrop event and learnt that Musk was giving Bitcoin. He (Sebastian) sheepishly followed the link and discovered a ptofessional-looking website, where the giveaway is ready. The fraudster also provided an image source and shows replies to Elon Musk with the aid of identical profile.

The false information lured Sebastian, believing that the team will double his money if he can send any thing ranging from 0.1 to 20 Bitcoin. He went through the verification logo and decided to send 10 BTC. He said: "Take the maximum, I thought this is definitely real, so I sent 10 Bitcoin".

He waited for some minutes for his BTC wallet to be credited but behold there was none. He saw Mr Musk sendbaack fresh cryptic tweet and taught it was alright. Finally, the timer went to zero without his doubled Bitcoin. His 10 Bitcoin worth £430,000 went into the tin air. All his effort to recover his money was gone.

"Look for examples of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required)"

Examples of ongoing Airdrop events are:

• KCCPAD
• Zerogoki REI
• Bird Finance (HECo) BIRD
• WELL WELL
• SAFE BULL

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The Airdrop event I choose is Zerogoki. The following are the analysis:

• Cryptos: 10,903
• Exchanges: 389
• Market cap: $1,302,158,673,6154h
• Volume: $64,896,200,142
• Dominance:
  BTC: 45.7%
  ETH: 17.0%
  ETH Gas: 37
  Zerogoki price (REI): $4.54
  Tokens: 3,000 REI

It is host from July 13, 2021 to July 18, 2021.
The number of winners are 1,000 and participants are 98,887.

With the above analysis, I bet my choice is a good one.

"Explain the steps to participate in the Airdrop of your choice". (Screenshot required)

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The steps required for you to participate are:

• You must add ERI to the list on coinmarketcap with this link provided
• There is a Twitter account given by Zerogoki that you must follow through to this link: https://twitter.com/OZerogoki
• You need to join their telegram group.
• You will retweet the Zerogoki x CoinMarketCap Airdrop pinned post and then tag at least 3 of your friends or followers.

Note to the participants:
They are to lookout for winners list from the official Twitter and Telegram accounts as the event eends. Then, the rewards will be shared from August 1, 2021 to August 7, 2021.

Conclusion

From the above answers, I really want to appreciate my professor for this lecture on Airdrop event, what it is, where it is held, steps to participate and how to avoid falling into the wrong hands.

Thanks to the Admin.
I remain your student,
@goodspeed22

Cc: @wahyunahrul