Cryptocurrency is a digital currency that uses blockchain technology to transfer money between parties. To be simple, it is a completely virtual money transfer method. Which eliminates any Government regulations or Bank approval between parties. Regulation for starting cryptocurrency is very naive that any crypto enthusiast can start a new crypto project. To stand out from the crowd. The crypto project announces their Airdrop(otherwise called Red packet), Bounties, and Faucet. There is no big difference between all three.

Airdrops:

Airdrop is mostly a one-time giveaway of few tokens to crypto holders or traders. This will raise awareness and the reputation of the project. The intention of sharing free tokens with targeted trading or investing communities is only to increase the demand for the project. The project owner may find a bitcoin holder who owns more than 3-5BTC. It is assumed that a person with this weightage will be a part of or have their crypto groups. When it is shared within these communities. There is a lot of chances for finding long-term investors on the project.

Finding Airdrops are easy. They are displayed eye-catching on top websites. So that anyone can try it. Most of them end up with nothing. Finding the trusted Airdrop is a challenge.

Below are a few tips I practice to find legit Airdrops.

  1. Check their Airdrop on their social handles like Twitter.
  2. Find the coin rating on the Coinmarketcap
  3. The reason for Airdrop and check if they are listed under major exchanges. like Binance, Coinsbit.

Airdrops.io: They classify their Airdrop under three categories. Latest, Hottest, and Holder Airdrops. As being a user, we can rate the Airdrop too. So this bottleneck over scam projects. Though, I suggest you double-check the project on coinmarketcap.com.

coinmarketcap.com: Also provides Airdrop news. Here we find complete information about the project. You can also check the whitepaper of the project.

Bounties:

                                    (Image courtesy: pixabay.com/users/petrucy-8597360)

Bounties are similar to freelancer jobs developed by the project owners. They present a list of all these bounties needed to implement their projects, along with the reward amount they desire to pay for each task. Everyday tasks for the project like translation, graphics, marketing, and more. Some projects might also require programming skills. Programming skills are required for finding the bugs in the blockchain project. Anyone can pick any of these tasks except debugging codes.

Icodrops.com has three categories. Active, Upcoming, and Ended ICO's.

Faucets:

They might offer you a tiny amount of crypto tokens for frequently visiting their site. You should complete multiple captchas. As they navigate you to multiple Ads on their website. The project website might be monetizing through Adsense or other Ad networks. They might pay a fraction of their profit from Ad revenue to you for solving captchas or flipping ads. I am not a big fan of this method. I am not sure why it is called a faucet. If you think I am out of sense. Please leave me your feedback.

Final thoughts:

If you find a legit Airdrop for free. Without any task. You are lucky. This happens on rare occasions. Actually, after the Airdrop, most of the projects drips down drastically. If the project is stable, it will catch its position on its next bull run. It is advised to be wise over these situations.