March 26, 2019
Tutorials

How to spot real airdrops

Yes, airdrops are free crypto tokens and coins. But there are still dangers that you have to be aware of. Good thing will be to read our tutorial how to safely participate in the airdrops before continuing to this article. Even if the airdrops are free you are investing your time and usually some sort of your personal information. We have prepared the tips how to be sure that your time involving in the airdrop is well spent, and how will you minimize the risks that your personal information that you have shared with the cryptocurrency project be compromised. It is all about the legitimacy of the project. To be sure that your airdrops tokens will be distributed to you, and once they are distributed that they will have a legit chance of gaining a real value. Of course, nobody is telling you that you have to invest couple of hours or days in doing your research just to participate in the airdrop. That is why we have prepared couple of quick tips how to spot the legit projects. This is not the 100% proof method how to spot scam coins (that can be really tricky), but it will be good enough to make a decision into participating in the airdrop, since you are not investing your money into the project but mainly your time.

1. Check the website

First thing to do is to check the website. If the site has the same template that you have seen on countless cryto website you are already starting to get a feeling about the project on a quick look. You know about what are we talking about. If there is a slider with particles moving on mouse hover, that you have seen dozens of times already you will start to ask questions. That is usually followed the ICO countdown timer. If the website is mainly for ICO purpose and for spreading the information about the project, but other factors are legit (real life implementation, valid team information, legit whitepapers, reasonable road map, then there is probably nothing wrong with these projects and you cannot make a conclusion about participating in the airdrop just from website information.

But if the project selling point is the website platform or application of any kind and if that platform is built in WordPress that is some serious red exclamation mark. There is nothing wrong with WordPress, heck even our platform is built in WordPress. WordPress is great and well documented platform. But simple it is not efficient to support large scale cryptocurrency web applications. And since it is a very popular platform security risks are reasonable high. If you are not familiar how to check if website is built in WordPress press CTRL + U to open website code. Then press CTRL + F to search for keyword “wp”. If there are more than 30-40 mentioning of the work “wp” site is built in WordPress.

2. Check the team and whitepapers

On the website there MUST be information about the team and whitepapers. Team members needs to have photos and LinkedIn links. Quick method to check images if you are using Chrome is right click on the image and “Search Google for image”. It is not the best method to check for scam but it is the quickies. It will show you if the image of the team member was used elsewhere.

If website do not have whitepapers it is another big red exclamation mark. If the whitepapers are poorly written, if they have only couple of pages with mainly focus on the ICO and tokens sale it is another scam mark. But if you want to go deeper and do more research about the whitepapers do a plagiarization check use one of the great online tools and copy part of the whitepapers into it to check it.

3. Check if website is on one of the ICO reviews websites

Useful thing is to check if project is listed on one of the ICO review websites. Today most popular are ICObench and ICOmarks. Of course that doesn’t mean that high rated projects are 100% scam proof, since recently was founded out how easily is to manipulate ratings on ICO review sites, but it can give you an useful information that is valuable in deciding if you want to participate in the airdrop. On our platform we are providing information form the ICOmarks if the project is rated there.

4. Check if project is listed on the CoinMarketCap

If the project is listed on CoinMarketCap that it is a high plus for the airdrop. Of course it is big difference if project is in top 100 or it is between 1000 and 2000 place, but nevertheless this information is very important as you will find out the real token value and where you can trade it (hopefully, if volume is big enough). AirdropsMob is also providing the information if the project is listed on CoinMarketCap just next to the name of the project. Usually these

5. Calculate the real value of the airdrop

For the most airdrops the value is calculated by the ICO price. But, you have to take that estimation with the large pinch of salt. Realistically most of that projects will never have a successful ICO campaign and they will never hit the exchanges. In that cases even if your airdrop tokens are dropped they will never have an actual value. But if the project has passed all the above steps than there is a real chance that you will gain a value of the airdrop tokens eventually.

In some cases airdrop value is calculated from the real market value. You can check it if the project is listed on the CoinMarketCap. Usually these airdrops have smaller value, but their strength is that they posses an actual value. That value can be really respectful once after we hopefully see the light at the end of this long crypto winter and if the project is strong and legit.

Sometimes tokens are dropped on the project platform as a utility token that can be used on the platform instead of your wallet. In that cases you will have to make a decision if you will use the platform in the future and is it worthy to take a time and participate in the airdrop. It is the same cases for the airdrops from the crypto exchanges that can be used as a trade fees.