Crypto Alphabet

Five reasons why you should be careful with airdrops

Every day new ICO appear, and there is a new fashion in the crypto industry – to attract users to its community by conducting an airdrop. These distributions of coins guarantee to the developers that the general public will at least notice their project among many similar ones, ensuring the stability of the project in the early stages of development. However, not all airdrops are equally good.

Here is the list of reasons why you should be more careful with airdrops:

Late airdrops

Traditionally, tokens of just launched projects are distributed, they are grabbed very quickly. But be careful, if there are proposals that promise an airdrop of already known and popular assets. The network has already recorded cases of fake airdrops of such tokens as OmiseGo, Stellar and Golem. Usually scammers organize such events with the aim to steal private wallet keys. So, if you see an invitation to an airdrop of a token that has already been added to the leading exchanges, you should better check this information with the official resources of the project.

Confidentiality

Some airdrops request in addition to your address some online identifiers. Theoretically, the address is forever associated with a person. It means that sending and receiving from this address associated with you on the network may in the future tarnish your reputation and do a lot of harm in the future.

Gas expenses

Sometimes an airdrop is not held for free, as it is stated. Some smart contracts are configured to receive gas, and this may cost you more than the core-token itself. So, if the project requests a lot of gas – it is better to bypass it. Any requests for donations should also make you think.

The time spent on an airdrop

The coins of some airdrops will not come to you at all or will be absolutely useless. They are either tokens of zero value or you simply can’t trade them. In the past ICO really allowed to earn, providing users with valuable assets, now some projects don’t even send tokens. That’s why filling all forms that come under the arm can be a waste of time. Some projects offer a fake referral program, participation in which can also be a waste of time.

Cyber ​​Security

Never provide your private keys. If the airdrop asks for something to download – better not to do it. Additionally, airdrops are ideal for phishing attacks, so be careful. Now users are beginning to understand the scale of fraudulent activities in the sphere of airdrops.

For participation in airdrops try to find large, legal projects, which are supported by large exchanges. Always double-check the data and social network of the project, as well as the official date of the airdrop.