If you are a newbie in crypto, there will be so many terminologies you will come across, including airdrops and bounties.
In this article, we will learn about the two of them and how you can earn money from them.
What is Airdrop?
Airdrop is a free coin/Token in which developers/founders distribute to communities for free or perform a small task.
What are Bounties?
Bounties are simple jobs, tasks, or projects that a coin developer has usually created. If you complete the job, then you will receive a reward for doing that.
Now we will tackle airdrops because that is what most have been asking me about, and I see airdrops to be an easy way to earn free more money.
MORE INSIGHT ON AIRDROPS⇩
Airdrops are one of the secrets by which you can empower yourself.
Since many are yet to know about Cryptocurrency trading, fewer people know about airdrops.
Airdrops are mostly done before pre-ico, ico/token sale, and some are done during ico or without ico.
Using Bitcoin as an example, when bitcoin was at its early stage when it wasn’t up to a dollar, some people received it as airdrop, which was as small as 20 coins of a token in 2008 after the bitcoin breakthrough, imagine you kept the coin till 2017 which one bitcoin was worth $19000+ upward. Now do the calculation.
Recently, there was a new airdrop, Hydrogen airdrop, on which I participated myself, and after the airdrop, I received 222,222 hydro in my mew wallet. Now hydrogen is trading, and one hydro is worth $0.003177 (11/05/2018). The free 222,222 hydro is now worth $ 711.1104, woow isn’t it cool?
Doing airdrop is as simple as A, B, C, D. You sign up for some airdrops, and you will be doing a small task. Some will ask you to like their Facebook page, follow Twitter, join the telegram page, and provide your Mew wallet address. Then, you will receive free coins for that simple task.
So in all, you don’t pay for anything in airdrops.
Airdrop is a way of getting free money from cryptos.
How To Get Started With Airdrops?
To get started, you must have:
♦Create an account here www.myetherwallet.com (if you are a newbie, you must be very careful when setting up your account, after setting up your wallet, you will have to keep your private keys in a secured place because if you lose them, you can’t recover your account also there are a lot of phishing sites (which when you visit, it looks like the actual MEW page but when you sign in with your private keys these hackers will get access to your private keys and can steal your funds inside your account, so be careful and always type the website on the address bar or you can bookmark it also.
Read step by step on how to create your ETH wallet here
♦ Telegram account
- Create a bitcoin talk account: www.bitcointalk.org (Target at least Junior rank on the forum by staying active, it’ll help)
These accounts also a must-have, but it is optional since every airdrop has what it asks for. Some will ask for these accounts, so do your best to create these accounts. ⧪Reddit account ⧪LinkedIn ⧪medium.