Introduction
Good to be among those that participate in this beginners course. Wishing all of us the grace to reach advance level course soon, amen.
QUESTION 1: What do you think about Airdrop in cryptocurrency?
Answer:
Source
Base on technical observations/research, airdrop in cryptocurrency simply means an act of offering(distribution) free cryptocurrency to many (ranging from tens to thousands) eligible wallet holders(participants).
Whenever a new cryptocurrency is been introduced and gaining much attention of cryptocurrency enthusiasts and investors is the soul aim of the developers, airdrop distribution is been used to achieve it within a short duration. Thus, airdrop is a marketing strategy for new cryptocurrency.
NOTE: The term eligible users means users that have pass all the necessary rules that is needed to participate as there is always a rules that govern the process.
QUESTION 2: How can we know about an airdrop event so that we can participate?
Answer
Since Airdrop event is an advertisement/marketing method of creating awareness of a cryptocurrency, Airdrop can be known through the following methods;
1. Social media
2. Peer to Peer talk
3. Official website
4. Exchange site
5. websites Ad
Social media: This is a popular means that people get to know about airdrop event. Personally, the first time I got to know about airdrop was through a social media chat (whatsapp).
Peer to peer: This is another method of creating awareness of an Airdrop. Friends discussions always cover up basic information about it most especially when the people involved are great cryptocurrency enthusiasts or investors.
Official website: Airdrop event can also be get known by visiting the official website of the cryptocurrency.
Exchange site: website such as www.coinmarketcap.com always show cryptocurrency that offers airdrop. Thus making known about the airdrop to investors and enthusiasts.
Website/software Ad: Ago, I came across such Ad on random software that I was using. Thus airdrop can be known through it.
QUESTION 3: where are Airdrop events often held?
Answer:
The major places airdrop events are often held are:
1. Telegram bot
2. Exchanges
3. Official website
4. Online game as well
QUESTION 4: Are all airdrop events free from scam? Otherwise, how can we avoid them?
Answer:
Capital NO
In a global world of today in which a high demand of much wealth is the aim of millions of people, thus creating a large number of none legit wealth seekers, many fake(scam) things have been generated/created by this people in order to extort people of which Airdrop is not an exception.
How to avoid airdrop scam;
1. Critical research
2. Demand of private keys
3. Investment
Critical research: Before anyone takes a move on airdrop event, a critical research is necessary. This research involves questioning cryptocurrency experts/enthusiasts or he/she can do that alone if he/she is capable.
Demand for private keys: Any legit airdrop can’t demand for that as such it should be avoided if there’s surch demand.
Investment: This is another ways of avoiding airdrop scam. Personally, I don’t know any legit airdrop event that developers have used this method before but I think there may be. In this method, investors purchase their token before the start earning. Thus the pump and dump method of scamming investors should be observed by anybody that want to venture into airdrop event.
QUESTION 5: Have you ever participated in a cryptocurrency airdrop event?
No, I have never participate in any cryptocurrency airdrop event.
Explanation of Airdrop event that I have heard of;
After a critical research in order to be able to attempt this question, I came across the most popular and booming airdrop event currently going on that is held by a coin called kicoin Community Chain Pad denoted as KCCPAD.
source
Fact about the kccpad;
| Symbol |  |
|---|---|
| Official website | www.kccpad.io |
| Snapshot | 17 July, 2021 |
More details about KCCPAD;
Source
Source
QUESTION 6: Give and explain example of airdrop event that has passed the airdrop successful. Then give one more example that has been proven to be a fraud?
Answer:
Stella-lumen(XLM)
Source
Explanation: The Stella-lumen(XLM) records the biggest successful airdrop event that ever occurred in history. Released on June 2014, Stella-lumen(XLM) cryptocurrency developers broke an astonishing astronautical record of offering about one hundred and twenty-five million (125, 000 000) worth of it token to people.
Stella is still a legit coin and still on the [www.coinmarketcap.com]( site
More details about it
Example of airdrop that have been proved to be a fraud;
The CORBIT DEX AIRDROP EVENT: This airdrop was a big scam in the history of cryptocurrency.
Source
The developers of the corbit dex airdrop used a technique called bounty. Several people participated through it circulation on various social media. Unfortunately for participants, the closed down their official website and eased to operate till date.
Below are screenshot about the fraudulent event;
Dumped telegram link:
Prove of chat on Bitcointalk
QUESTION 7: Look for an example of ongoing airdrop event, make an analysis that proves that the airdrop of your choice is good
Answer:
The Bird finance (Heco): Been ranked No. 4300 and having a whopping number of about 211,814 watchlist on www.coinmaketcap.com which I’m not an exception, the airdrop event is worth an attempt.
Furthermore, everything in the airdrop is made visible and clarified for interested participants.
QUESTION 8: Explain the steps to participate in the airdrop of your choice
Answer:
**Step 1: click on the login as shown on question 7 answer screenshot
**Step 2: join www.coinmarketcap.com watchlist by registering and verifyimg registration on email
watchlist successfully joined
Step 3: Join coinmarketcap and bird coin telegram groups
coinmarktecap telegram group joined
coin telegram group joined
Step 4: Folow @coinmarketcap and @bird_finance on tweeter and retweet the instructed tweet.
Step 5: Continue by filling this with your details
Conclusion
Special thanks to Prof. @wahyunahrul and other professors
A shout out to fellow cryproacademy beginners students
*Thanks for reading my assignment
start success go! go! go!
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