Airdrop in cryptocurrency world is a process of distributing tokens to a community. This is sometimes used to bootstrap a new cryptocurrency by building a community around the project and drawing support. Projects that rely on airdrop sometimes ask for something in return – usually to spread the word. To be prepared, you should first fulfill prerequisites.
There is a common pattern to follow when participating in airdrops and one should get prepared upfront. A great majority of airdropped coins are released on ERC20 platform. This is the same platform that Ethereum is built on, so the first thing to assure is ERC20 compatible wallet. To spread the word, most of the projects will require you to have Twitter and Telegram account and to ease the participation you should create one. Central spot of the crypto world is a blog called BitcoinTalkand some of the projects require you to have an account there and make a post. This is usually used to gain some ideas and to verify airdrop participants. So to sum it up:
ERC20 compatible wallet
We recommend you use MyEtherWallet. This can be done in three steps:
- On the myetherwallet website, make sure you have select the ‘NewWallet’ tab. There should be input field to enter wallet password and be careful to choose secure one.
- Save your wallet file, you will need this to login with your password on MyEtherWallet.
- Create a backup of your private key either by manually writing the code down or in an encrypted database or password manager. You may also want to print a paper wallet and store it in a safe place.
Checking the wallet content
After applying to airdrops you should occasionally check for folder content. You can do this by visiting Etherscan and querying wallet content without creating an account. On the upper right corner, there is an input field where you should paste your public address and trigger search. After the search has finished the result will be visible in the combo box labelled as token tracker.
After you create BitcoinTalk account be sure to read forum rules since forum moderators are strict and you can get banned if you don’t follow them.
- Forum rules
- Ranking rules
Important – read and remember
Some of forms found on the internet are scams. You should never, and we can’t stress this enough, !!!NEVER!!! give your private address to anyone. As a rule of thumb, you should avoid any project that requires donations, doesn’t have webpage and announcement thread on BitcoinTalk forum.
Start participating in airdrops
What’s left is to subscribe to airdrops. The easiest way is to daily check for airdrops here at JoinAirdrops, we will publish quality airdrops.