Steemit Crypto Academy Contest Season 12 Week 01 - UNDERSTANDING CRYPTOCURRENCY AIRDROPS

Introduction

It's now Season 12 of the Steemit Engagement Challenge and we believe you are so excited and ready to participate with us once again. We solemnly welcome y'all into the new season and we bring to you our contest for the first week. We hope you will all love it

UNDERSTANDING CRYPTOCURRENCY AIRDROPS

We an into the world of cryptocurrency and in an area were we acquire crypto tokens via so many ways such as crypto mining, trading, staking, holding and so many other ways. One of the ways which we could still acquire crypto tokens is through crypto airdrops. This brings us to our topic today as Understanding Cryptocurrency Airdrop

Cryptocurrency Airdrop is a form of promoting awareness and adoption of a new currency as it's a way of distributing new crypto tokens to already existed crypto holders or people who perform certain exercise in order to claim the token. It is also a way of distributing free tokens to all selected wallet address that makes up the criteria

They are different types of crypto airdrops which is also functions in different ways accordingly. Despite the legitimacy of some crypto airdrops, we should also know that there are lots of airdrops outside that are highly fake. We can earn a lot of money via crypto airdrops either by selling it, staking, referring or holding the token in our portfolios

After going through this topic thoroughly, we will like you people to answer the following questions... It is always advisable to make proper research and go through our topics well before answering our questions in other to gain maximum scores

What is Expected in the Contest?

• Define what is crypto airdrop?

• Give the different types of crypto airdrops

• Have STEEM token ever been claim as a crypto airdrop ?

• How to identify if a crypto airdrop is legit or scam. How can we also fine free crypto airdrops

• How are crypto airdrop taxed ?

• Have you ever claim a crypto airdrop before? Which coin was that?. If you haven't claim an airdrop before then explain how one can claim a crypto airdrop

• Advantages and disadvantages of crypto airdrops

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, September 4th, 2023, 00:00 UTC to Sunday, September 10th, 2023, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S12W01 - Understanding Cryptocurrency Airdrops . Add the tag #cryptoacademy-s12w1 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

After going through this topic about crypto airdrops, we will now like to hear from y'all your understanding of the topic. So we hope everyone will have good information about this topic.

Please always remember to stay original and give in-depth analysis to all the required contest questions