Free Crypto from Airdrop, Is it Safe?

Posted on

There are many ways that beginner traders do to get crypto assets for free, one of them is through Airdrop.

The Airdrop mechanism in general is where the company will share a number of crypto assets for free or with certain conditions.

However, is the crypto airdrop program safe? Here’s the explanation

What is a Crypto Airdrop?

Crypto airdrops are a form of promotion that is usually carried out by blockchain-based startups to help bootstrap a certain crypto asset project.

The aim is to spread awareness about cryptocurrency projects and attract traders to trade in them when the asset is listed on the exchange as an initial coin offering (ICO).

Some companies usually provide airdrops for free, but not a few also provide a number of requirements to participants. For example, a company might only ask participants to enter their names and email address.

However, there are also those who ask participants to store a certain number of coins or crypto tokens in their wallets.

Not only that, but there are also companies asking participants to complete a number of tasks, such as posting about certain crypto assets on social media forums, inviting others to participate in campaigns created by the company, and several other interesting tasks.

Crypto Airdrop, Is It Safe?

Before confirming whether a crypto airdrop program is safe or not, it is necessary to do thorough research.

The reason is, not a few scam activities are under the pretext of a ‘crypto airdrop program’.

Instead of giving away free crypto assets, these scammers steal important information, such as user identities, private keys, and much more.

Things to consider before joining the Crypto Airdrop program

Launching Zipmex, here are things to consider before participating in the crypto airdrop program.

Never give access to your private key to anyone.

Find out as much detail as possible about the crypto airdrop program that will be followed, including who is the organizer behind the program.

Investigate the professionalism and background of the airdrop hosting company.

Be suspicious of an airdrop program that requires paying a certain amount of money in advance or that asks to provide an account password.

Knowing Unsafe Crypto Airdrops

Here are some of the most common types of crypto airdrop scams and are often encountered by crypto investors or traders.

Private Key

Private keys are one of those scam airdrop activities that need to be avoided. This scheme is done to trick investors or traders into giving them the private key for the wallet.

Usually, in an airdrop delivery, the company or provider that provided the crypto asset will ask for the public key.

The public key is a key that you can give to other users in making a transaction to send crypto assets.

Meanwhile, the private key is the key that is in charge of securing and storing all the secrets of your wallet. So, it is obligatory not to give the private key to anyone.

Giving the private key to someone else will open up opportunities for the wallet to be hacked by irresponsible parties.

Personal Data Theft

The type of airdrop fraud that is also often encountered is the theft of personal information.

Later your personal data will be sold to third parties and/or used for a phishing attempt in the future.

In addition to information about wallet addresses, usually perpetrators will take and use data such as email addresses, social media info, names, and some other important data.

To avoid trolling airdrops, it is best to do research on the parties behind a crypto asset project.

Individuals who will carry out fraud under the guise of ‘airdrop’ usually do not have an official website, whitepaper, and even company social media.

Leave a Reply

Your email address will not be published. Required fields are marked *