Crypto Academy / Season 3 / Week 3 - Homework Post for @wahyunahrul Airdrop - Giveaway In Cryptocurrency

peachyladiva (67)in SteemitCryptoAcademy • 3 years ago

Introduction

Greetings crypto lovers,
It feels good to be here and this is my first trial and first post in this community. I will like to thank professor @wahyunahrul for a detailed lecture and an eye opening one. I have always heard about airdrop but have not paid much attention to it but this lecture have really opened my eyes to what airdrop is all about. Thank you prof.

Homework Tasks

Question 1
What do you think about Airdrop in cryptocurrency?

Answer

I love the idea of airdrop in cryptocurrency, this helps people that wants to have cryptocurrency but don't have money to invest. I think it's a great way to create more awareness about cryptocurrency in the world at large. If there is a way to reduce or eliminate airdrop fraud in cryptocurrency, it will go a long way to welcome more people on board.

Question 2
How can we know about an Airdrop event so that we can participate?

Answer

We can know about Airdrop events from:

social media apps
exchanges
cryptocurrency sites
advertisement
referrals
website advert
peer to peer
group chats.

What I have come to find out is that when it comes to airdrop you see the advert almost everywhere because the purpose of the airdrop is to make the coin know, so the owner of the coin always advertise the airdrop in mediums they see fit.

Question 3
Where are Airdrop events often held?

Answer

airdrop events are most held on the website of the said coin or a separated website is created for the airdrop.
airdrop events can be held on exchanges as well and also an app can be set up for it.
airdrop events can be held on telegram bots.

Question 4
Are all Airdrop events free from scams? Otherwise, how can we avoid the scam?

Answer

Not all airdrop events are free of scam, there are a lot of bad apples in the basket and also a lot of good once, you just need to take your time to study the type of airdrop you want to participate in.

How to avoid airdrop scam

if you don't like to read, then probably airdrops are not for you, to avoid scam you need to take your time to study the whitepapper of the project and go through their website to be sure they know what they are doing or if it's really legit.
if the identity of the owner or team members are hidden then their is high possibility that the airdrop is a scam.
if they are asking for your private keys then it's completely a scam! Any airdrop asking for private keys is not a genuine one and they want to scam you of your cryptocurrency in your wallet. To send me my airdrop token they only need my public keys not my private keys. This is one of the pointer of a scam airdrop. Kindly avoid it completely.
Another way to avoid airdrop scam is to check out if the project in question have a white paper or a website at all, if these two is lacking then it's a scam.

Question 5

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)

Answer

Example of the one I did in 2018 is in screenshot below. As at that time I didn't know much about the cryptocurrency space. I just did it because a friend asked me to and I didn't really do a follow up. I was asked to retweet and advertise on twitter, which I did and was rewarded for it. It's been a long time and I can't really recall the details but I'm sure I was asked to follow them on twitter and also advertise for them on twitter.
However, twitter is banner in Nigeria I would have gotten more screenshots from there.

_{A screenshot of heta airdrop I did in 2018}

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

Answer
Example of a successful airdrop

Bitcoin cash airdrop in 2017. This is an example of the holders airdrop explained in the homework post. The participants hold or save specific type of cryptocurrency for a specific period called snapshots. If all the rules are followed then the participants are entitled to the airdrop. That was strategy the bitcoin cash airdrop used.

Example of a fraud airdrop

An example of a fraud airdrop will be EDOGE this falls under the category of dump airdrop that was explained by professor @wahyunahrul. The developers of edoge airdrop came with all the noise and attracted investors, however when they saw that the tokens hits the exchange, the developer sold off all the tokens they have and the price of edoge when down so bad and the developers disappear, just like that.

Question 7

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

Answer
The pi network airdrop
I love the pi network airdrop because it doesn't stress me, lol, maybe I like it for selfish reasons, it's easy to use and it's a kind of new kind of airdrop to me, all I do is mine the pi coin from my phone, with the little knowledge I have about mining of coin, I know it's not a small thing at all but for pi network to bring mining to my door step and make it so easy that I can mine their coin on my phone it's something exciting to me.

_{All I need to do is just tap to earn}

Pi network subscribers have reached 10 million users,thats something to watch out for. 10 million users is not a small number at all, it means 10 million people believe in this project. That is hope right there.

I love the inclusiveness of the pi network, the app is easy to use and you can interact with other people on the app, you get daily update and read about things on the app.

The pi network core team members are known and the white paper is easily available for everyone to go through it. They are on every social media and there is nothing fishy about them yet.

Question 8
Explain the steps to participate in the Airdrop of your choice. (Screenshot required).

I will explain the step to participate in Pi network airdrop.

first you need to download pi app at the App Store. It's can be download on Android and iOS App Store. You can download the app using my referral link

_{clicking on the link will bring you to the site in the screenshot, click on download to download the app.}

after you have successfully download the app, do your registration using the phone number option or facebook. The registration is easy to do.
after your registration, start earning.

_{you tap to earn}

Conclusion

Airdrop is actually a great opportunity for newcomers in the crypto space and also old users as well but ensure you are not falling into the wrong hands. Do proper research before joining any airdrop.

Thank you for reading my post this far. I appreciate you all alot.

Cc: @wahyunahrul

#wahyunahrul-s3week3 #cryptoacademy #airdrop #cryptocurrency #nigeria #giveaway