How To Avoid Airdrop Scams
With the increasing popularity or crypto airdrops and the amount of potential money (tokens) to be collected, it’s no surprise that there are many scams out there. Below are some basic rules of thumb you should follow to ensure that you secure your funds and avoid any types of spam airdrop.
Unfortunately, there is a chance that the airdrops you sign up for won’t send you tokens and at the end of the day, you wasted five minutes of your time. However, what is worse is that you shared your personal information with one of these scam airdrops when you were signing up.
You may have already signed up for some and have an understanding of the information these airdrop applications generally want. You’ve probably already had a chance to see and learn how to spot a scam, but here are a few reminders for you.
Safety first with Airdrops
After signing up and reviewing many airdrops, we have gotten good at spotting scams and fakes. Some things we see scam airdrops often doing; Using the same WordPress layout as others, missing whitepapers, and fake accounts for team members.
Just to be clear, in no way are scams the majority of airdrops. In fact, they are a small percentage of airdrops. There are plenty of remarkable airdrops out there that do an excellent job of delivering. The Steller airdrop was just that, steller. They sent 1,000 tokens to all who joined their airdrop. Later those tokens were valued at over 800 USD!
We can go all day listing off some of the best airdrops from the past, but let’s focus on how to make sound decisions when it comes to joining an airdrop you think will be the next big thing.
Never send/donate ETH or pay for an airdrop
These are the most common tactics. You will see fake Twitter pages sharing; “Donate .1-1 ETH to get free ‘xyz’ token”. These are scams so don’t let them fool you!
Do not share your private key
This is rule number one for anything crypto related. Your private key is YOURS, never share with anyone. Keep your private key safe and don’t get tricked into sharing it.
Create an airdrop dedicated email
Just about every airdrop asks for you to verify your email when signing up. Create a new email just for airdrops. It’s a smart way to monitor project updates and keep your private email secure. You can then have all your emails from that domain forwarded to your private email. Most main email providers offer this option to forward from another account.
Use different passwords
Do not use the same password on different site. Some airdrops require that you create an account on their platform and sign up with a username and password. Create a unique password for each and manage all of your passwords with a password manager. It’s a good idea to set up a tracker in a spreadsheet to keep tabs on the airdrops you’ve signed up for and the account information you used. When you’re signing up for 20+ airdrops, this will help you keep organized.
Be careful with KYC airdrops
KYC (Know Your Customer) is used for many ICO’s because they require that you share your information to participate in token sales. If you do not plan on purchasing tokens during a projects ICO, then don’t fill out any KYC for an airdrop. This will ensure you secure your private data.
Set up a new Ethereum Wallet for airdrops
Dedicating one ETH wallet to your airdrops will help you keep organized and keep your personal wallet safe. You can use MetaMask to create a new wallet and manage multiple at the same time. There isn’t much danger in sharing your public address, but having a separate address just for airdrops is a safe way to keep your personal wallet value hidden.
Always use reliable sources when doing your research
Make sure you are following links from the airdrops official pages and channels. On Twitter, you will see many “look-alike” profiles that claim to be there airdrops official page. They will use similar usernames and profile pictures. Double check every time before you click a link or share any information.
If you see what you think may be a scam account on Twitter, report it to the official airdrop channel.
Where to find airdrops?
You can find many airdrops listings on Twitter, Telegram, and many other sites.
However, many of these channels are unorganized and not always reliable to use. Check out Airdrop-Review for some of the best hand-picked and reviewed airdrops. We do our best to weed out scam and list all the best airdrops we find to be exciting or having high potential.
As you research and look for Airdrops to sign up for, you may find a few airdrops that are worthless or scams, but you will discover many that have high potential and will be worth your time. Even though some airdrops may only be 2 – 5 USD in estimated value, there is always a chance that those same tokens can increase their value as the Crypto market get’s better.