Crypto Airdrop Scam: Don’t Fall F0r Their Stupid Tricks.

How To Know A Cryptocurrency Airdrop Scam

Cryptocurrency airdrops the distribution of free tokens in exchange for little tasks. These tasks may include referring a friend to a particular platform or tapping on a link. For a cryptocurrency project, it offers an excellent to promote their cryptocurrency.

It is one of the ways to certify that a cryptocurrency platform is here to stay. However, even though a cryptocurrency airdrop method may seem legitimate, there have been scams that have occurred with the use of cryptocurrency airdrop methods.

Especially, in the past months, they have been on the high rise. Therefore, this calls for a need for an address on this topic to be made. In this post, you will be reading about cryptocurrency scams and how to avoid cryptocurrency scams. Such as ParamGaming, PlanetMojo, and BlockGame Airdrops.

This article will offer updated methods on how to avoid cryptocurrency scams. If you are a cryptocurrency enthusiast, then you should not miss this!

What Are Cryptocurrency Airdrop Scams?

Cryptocurrency airdrop scams are cryptocurrency projects that promise the release of free tokens when users sign up but in the end, users get exploited or scammed. In many cases of cryptocurrency airdrop scams, the users are not always the ones at fault.

Most of the time, the cryptocurrency airdrop projects are those who are to blame. These cryptocurrency airdrop projects that end up being scam projects design their cryptocurrency platforms in such a way as to appear to be legitimate brands.

As a result, unsuspecting users end up signing up and get exploited and scammed at the end of the process. Over the years, because of the high rate of cryptocurrency airdrop scams prevalent, the number of people who leverage these platforms is on a declining rate.

This is because private keys, card information, and details after being extracted from users’ details are infringed on and as a result, there is more loss on the part of the users compared to the cryptocurrency airdrop platform. 

Cryptocurrency airdrop scammers venture into cryptocurrency airdrop scams for several reasons. The next heading discusses some of the reasons why there are so many cryptocurrency airdrop scams and why cryptocurrency airdrop projects may end up being scam projects.

Reasons Why There Are Crypto Airdrop Scams

Here are some reasons why some cryptocurrency airdrops may end up being scams:

Intention To Make Money

One of the foremost reasons why there are so many cryptocurrency airdrop scams is the exploitative intention of the project owners to make money. To make huge money online, there must be traffic. So, project owners are aware of this and as a result, they design their airdrop giveaway in such a way to get more traffic and make money.

Project owners may create websites where the token is being distributed and lure more users to get into the website. Afterwards, these project owners after noticing the spike in traffic may decide to adopt money-making techniques to make money off visitors without offering anything in return to them. For example, they may promote affiliate marketing techniques to visitors luring them to register on such links to offer money to them.

To Gain Access To Users’ Information

This is another prevalent method that cryptocurrency airdrop owners use to scam their users. Users are lured to provide information such as Private Keys, National Identification Numbers, Credit Card Numbers, and other details to successfully sign up for their airdrops. It is a method that has resulted in the infringement of many cryptocurrency wallets in recent years.

This doesn’t end there. Some cryptocurrency airdrop platforms may go as far as sending you a one-time password (OTP). This OTP, in some cases, may cause the exposure of your account details to cryptocurrency wallet infringers who may be under the guise of cryptocurrency airdrop project owners.

So, you mustn’t fall for all cryptocurrency airdrop that requires that you enter an OTP or other important details that may cause compromise to your account.

The two aforementioned reasons are the major reason why many people go into cryptocurrency scams. Now that you’ve gained knowledge about this, wouldn’t you like to know about how to avoid cryptocurrency airdrop scams? You sure bet! The next heading discusses that.

How To Know Potential Cryptocurrency Airdrop Scams

The following are recommended tips to know cryptocurrency airdrop scams:

Grammar Errors

Cryptocurrency airdrops projects run by legitimate organizations would put work into ensuring that they give a reputable image of their platform to the public. On the other hand, a fake cryptocurrency airdrop platform would not take that as a priority and as a result, they would be obvious grammar blunders in their releases.

This should be the first criteria to check before signing up for a cryptocurrency platform. Of course, a new cryptocurrency airdrop project raises a lot of doubts in the minds of people. So, a legitimate cryptocurrency airdrop platform would do all it can in writing to ensure that trust is built in the hearts of the users.

So, when you notice that a cryptocurrency airdrop project releases are always full of blunders and errors, then it might just be an indication that it would turn out to be a scam project.

Absence Of Social Media Presence

A cryptocurrency airdrop project would spend time ensuring that they have a social media presence. These social media platforms can help them build trust and answer questions from their users. In contrast to this, a fake cryptocurrency airdrop project that is not here to stay would not be willing to build a social media brand.

This is because of fears that it may figured out soon or that users would call them out when signs of the cryptocurrency airdrop project being scams begin to unfold. Some cryptocurrency airdrop project owners may grudgingly open only one social account to promote their cryptocurrency airdrop. When this happens, here’s what you need to do:

First, check if anyone has made a review on the platform on their social media handles. If there are too many negative reviews, then you shouldn’t bother creating an account with the cryptocurrency platform. However, if there are a fair amount of positive reviews against the negative, then the question of whether to go for this cryptocurrency airdrop lies in your gut.

Asking For Money In Return

Airdrops are meant to be free tokens. Most cryptocurrency airdrop platforms would never ask for money for you to trust them. However, if the cryptocurrency airdrop project that you run asks for money, then that is an indication of a scam airdrop project. So, instead of donating, leave the platform.

Some cryptocurrency airdrops may come with the agenda that to claim your free tokens, you’ll need to donate. Don’t fall for such a trick. No matter how they ask for the donation, don’t attempt it.

If you eventually donate, you will not be given the free tokens. So, instead of losing your money and the tokens, save your money and lose the free tokens. They are fake already, so leave it.

Offering Too Much For Little Work 

This is arguably one of the common cryptocurrency airdrop scams that most project owners use to lure people to sign up for their projects. Scam cryptocurrency projects may offer to give you valuable sums of airdrops for completing little tasks on their platforms. If you’re a novice to the cryptocurrency airdrop game, you might easily fall for this trick. 

Some cryptocurrency airdrop projects may offer to pay you huge sums for just referring a friend or two on the platform. This may not be a legitimate offer for all cryptocurrency airdrops. So, be careful when you agree to go in for these offers, they may turn out to be too good to be true. They may just be a scam indication.

How Research Can Help 

Before deciding to sign up for a cryptocurrency airdrop project, do thorough research on the cryptocurrency airdrop before signing up. Don’t sign up based on hearsay information, get first-hand information about the cryptocurrency airdrop prospects.

If possible, contact the project owners through social media and ask questions, the answer they give, should determine whether you should register for the cryptocurrency airdrop project or not.

Remember, the best cryptocurrency airdrop project is one that has the prospect of being listed on the cryptocurrency markets.  So, don’t go for just any cryptocurrency airdrop that comes your way; research the project before signing up.

Conclusion

In my opinion, the best way to know a crypto airdrop is a scam is when they ask for details such as private key information, card information, etc. When you notice a cryptocurrency airdrop project asking for this information from you, it turns out to be a scam in most cases.

This does not downplay the other tips outlined in this article to look out for in a cryptocurrency airdrop project. However, it would be wise to make this a priority in selecting a cryptocurrency airdrop to go into. There are still legit crypto airdrops. Also, doing research is important. Do your research. Don’t underestimate the power of research in the world of cryptocurrency. It is a lifesaver!