What are Crypto Airdops and Giveaways?

Socialman Socialman pixabay

Recently, many campaigns, giveaways, airdrops, and other types of promotions have appeared on the market. Many people have doubts about whether they are safe and legit and whether it is worth participating in them.

In this article, we will explain what crypto contests and promotions are and whether it is worth taking part in them.

The world of crypto, blockchain, and NFT, which has been developing extremely rapidly in recent years and even months, is full of myths. These myths create many doubts among users and potential investors.

Recently, many campaigns, giveaways, airdrops, and other types of promotions have appeared on the market. Many people have doubts about whether they are safe and legit and whether it is worth participating in them. 

In this article, we will explain what crypto contests and promotions are and whether it is worth taking part in them. 

What are crypto contests?

The world of crypto is full of news. New currencies, new blockchains, or cryptocurrency exchanges appear almost every day. For creators of these projects, as for any other business, the most important thing is to attract new users. That’s why they need to organize promotional campaigns. 

What are airdrops?

Among the ways to promote new crypto projects, the most popular are airdrops. 

Airdrops are basically sending free tokens to communities to get new users and encourage the adoption of cryptocurrency.  It is part of the tactics of crypto startups, usually linked with the promotion of the project’s website. Also running a project's social media channel promotion or creating a potential investors' group can be a reason to organize an airdrop. Because there are a lot of new startups in the industry that appear quickly, getting users and a certain level of adoption is crucial for them.

Both contests and airdrops can take the form of a giveaway - a competition where users will receive currency for doing some kind of small promotion on their social media: for example for sharing a post on Twitter, Instagram, or other social platforms.

Are the giveaways and airdrops legit and safe?

Generally, there is nothing wrong with participating in this kind of promotion. But unfortunately, the reality is sometimes bitterly different. Some of the organized promotions are actually actions of scammers who aim to steal your money. Does that mean all these contests are dangerous? No. There are many legal shares on the market that are a great opportunity to dive into the world of crypto or NFT. But you should be careful and you always have to keep safety in mind. 

How to avoid scam

Just because there are (a lot of) scams in the industry it doesn't mean that participating is always risky. Use common sense. If someone is asking you for passwords or your wallet’s sensible data, avoid it! There are a lot of legit contests but their organizers never ask for this kind of data. Also, the contest should follow the ‘no purchase necessary’ rule, which means if someone is asking you for buying anything (their currency or NFT) to participate you should definitely avoid it. 

Legitimate airdrops never ask for any investment. You should know that in case anyone is asking you for doing any exchange buying their currency it would be most likely a scammer.

You should be also aware that an airdrop can be used to manipulate a token's price in the near future. In this scenario, the scammer sells a large amount of the currency after it gets some attention and begins to trade. The price drops quickly and you lose your money.

How to organize your own airdrop or contest 

Maybe you are wondering how to organize this type of competition for your own cryptocurrency or exchange platform?

What is important for you is to create buzz around your project on social media. To achieve this goal you should use a competition platform that will allow your contest’s participants to post content on social media. In exchange for doing these small tasks, they will receive points and then will take part in a draw. This is how Socialman works, a simple online contest application that is integrated into all major social media platforms.

When organizing your airports you usually ask users for doing some kind of small promotion on their social media channels, like spreading the news about your project on their wall or sending a message. Because the single amount of the token is small it is very important to do it en masse, that's why airdrops focus on using the Telegram platform. 

Telegram is hugely popular and widely used in cryptocurrencies because it allows the creation of groups of up to 200,000 users. That’s pretty impressive, isn't it? No other social media will allow you to do that. With Socialman, which also has no limits, you could organize the promotion on the Telegram platform as well.

Behind the myth

We hope this short article helps you to understand the idea of contests in the cryptocurrency industry. We also hope that with this short explanation you won’t involve yourself in any risky situation, and you will profit from participating in legal and legit cryptocurrency promotions.

 
  • EuroTrip - Top Destinations to Visit in Europe
    EuroTrip - Top Destinations to Visit in Europe

    Europe is a continent that has captured the hearts of many travellers, with its rich history, stunning landscapes, and diverse cultures. A Eurotrip is the ultimate adventure for those who love to explore new places, try new foods, and experience different ways of life. From the bustling streets of Paris to the picturesque canals of Venice, a Eurotrip offers something for everyone.

    Written on Sunday, 12 May 2024 15:38
  • New functions of the cerebellum were discovered in recent research
    New functions of the cerebellum were discovered in recent research

    Recent research conducted at the Ruhr University in Bochum and the University of Duisburg-Essen has provided fascinating insights into the role of the cerebellum, a part of the brain traditionally associated with coordinating physical movements. It turns out that the cerebellum also significantly influences emotional processing, including the learning and unlearning of fear responses. These findings could radically change the approach to treating ataxia, a rare cerebellar disease.

    Written on Tuesday, 07 May 2024 17:08
  • The Global Talent Pool - Advantages of Hiring Remote Web Developers for Your Next Project
    The Global Talent Pool - Advantages of Hiring Remote Web Developers for Your Next Project

    In an era where digital transformation dictates market trends, the significance of integrating remote web developers into business operations has become undeniably crucial. The rise of remote work has not only expanded access to global talent but has also presented unique opportunities for innovation and strategic business growth.

    Written on Tuesday, 07 May 2024 08:58
  • Vaping's role in helping quit smoking and supportive tips
    Vaping's role in helping quit smoking and supportive tips

    Quitting smoking is always a challenging journey, but using vape has provided a solution and support for many along this path. E-cigarettes or vape devices have become increasingly popular, and numerous studies and personal experiences support their effectiveness in the smoking cessation process. Many smokers seek alternatives to traditional cigarettes, and vape devices are becoming a popular solution.

    Written on Thursday, 02 May 2024 17:57
  • Beyond disposal: rethinking plastic waste management strategies
    Beyond disposal: rethinking plastic waste management strategies

    The plastic problem: a global crisis

    Plastic waste has become an undeniable crisis, permeating every corner of our planet. From towering landfills to the depths of our oceans, plastic pollution poses a significant threat to ecosystems, wildlife, and human health. As the production of plastic continues to soar, traditional disposal methods are proving inadequate in addressing the magnitude of the problem.

    Written on Friday, 26 April 2024 16:59
  • Bitcoin Cash - evolution and impact in the cryptocurrency world
    Bitcoin Cash - evolution and impact in the cryptocurrency world

    Bitcoin Cash (BCH) emerged in 2017 from a hard fork of Bitcoin (BTC), primarily due to debates and disagreements within the Bitcoin community about scaling and processing speeds. Designed to address the limitations of Bitcoin in terms of transaction speed and fees, Bitcoin Cash has positioned itself as a more practical cryptocurrency for everyday transactions. This article explores the origins, technological advancements, and the ongoing relevance of Bitcoin Cash in the digital currency landscape.

    Written on Wednesday, 24 April 2024 08:49
  • In the fascinating world of lost luggage
    In the fascinating world of lost luggage

    In the fascinating world of lost luggage, Unclaimed Baggage once again reveals extraordinary discoveries from unclaimed items, attracting attention from customers worldwide. In the latest "Found Report: A Look Inside America's Lost Luggage," published on April 1, 2023, the company presents a variety of fascinating items found in lost luggage over the past year.

    Written on Tuesday, 23 April 2024 16:29
  • The LEI code - The key to security and trust in financial transactions
    The LEI code - The key to security and trust in financial transactions

    Discover how the LEI can be the key to security and trust in your financial transactions. Read on to learn more about the importance of this unique identifier and its role for legal entities in securities.

    Written on Monday, 22 April 2024 08:05