Crypto Academy Season 3 week 3- Homework task for @wahyunahrul: Airdrop Giveaway in Cryptocurrency

Questions
1). What do you think about Airdrop in cryptocurrency?
2). How can we know about an Airdrop event so that we can participate?
3). Where are Airdrop events often held?
4). Are all Airdrop events free from scams? Otherwise, how can we avoid the scam?
5). Have you ever participated in a cryptocurrency Airdrop event? If so, then explain. Meanwhile, if you have never participated but have heard of the Airdrop event, then explain it. (Show proof with screenshot)
6). Give and explain an example of an Airdrop event that has passed and the airdrop was successful. Then give one more example that has been proven to be a fraud. (It is not allowed to take the example that has been taken in question number 5).
7). Look for an example of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required).
8). Explain the steps to participate in the Airdrop of your choice. (Screenshot required).

1.) What do you think about Airdrop in cryptocurrency
From the definition and description of what an Airdrop is in the lesson, I think an Airdrop is a wonderful way for developer(s) to promote their newly made coins to prevent them from having low investors and holders. I also think it provides a wonderful opportunity for the average society to have a decent experience in the Crypto space. People who participate and get rewarded in an Airdrop would carry a positive mindset about cryptocurrency and would want to know more and do more concerning it. And with this, the Decentralization ideology would become more widespread than it already is and will then tend to make the lives of people more convenient for them. For me, airdrops are a good idea and should be encouraged for most cryptocurrency.

2.) How can we know about an Airdrop event so that we can participate?
We can get to know about airdrops by being on look out and searching for it. Airdrops that have their own websites are usually pretty hard to come by so finding it yourself is the best option. Some airdrops are done on social media platforms so the organiser(s) use that as a way to make the airdrop known in order to promote it more, since majority of people are on social media platforms.

3.) Where are Airdrop events normally held?
From my answer in question 2, we will be able to know that airdrops are held on the internet. They can either be held on sites made by the developer(s) or on social media platforms. I'm not sure, but I think the most used social media platform for Airdrops is telegram.

4.) Are all Airdrop events free from scams? Otherwise, how can we avoid the scam?
From the lesson, my research and my experience, not all Airdrops are legit and free from scam because of the selfish and greedy nature of some human beings. We can avoid scam airdrops by doing proper research. Research should be done on the following:

• The coin being distributed
• The developer(s)/organisers of the coin/airdrop

The coin being distributed.

The coin in distribution should be checked in order for the potential holder to know what he/she is about to collect. Some coins have been seen to know no profit in the future and might become a liability to the holders in future.

The Developer(s)/organisers of the coin/airdrop.

Sometimes the coin would be legit but not the distributors. These people need to be checked and researched on thoroughly for some can be scammers or would just want to waste your time.

5.) Have you ever participated in a cryptocurrency Airdrop event? If so, then explain. Meanwhile, if you have never participated but have heard of the Airdrop event, then explain it. (Show proof with screenshot)
I have tried to participate in airdrop events twice but both ended up being scams. So no, I haven't participated in any successful airdrops but this is about one I know. It is the recent babyshark Airdrop.

As we can see, the Airdrop ran for 10 days between July 4th- July 14th. A total number of 2000 participants we're eligible to get rewards from the Airdrop and 331,120 people participated in the airdrop. After the deadline, a total number of 4.7 trillion shark was distributed to the winners(about 2.35 billion shark to each winner).
To have participated in the baby shark airdrop, one was required to:

• add babyshark to his/her coinmarketcap watchlist
• join the babyshark telegram channel
• join the coinmarketcap announcement channel
• follow babyshark on Twitter
• follow coinmarketcap on Twitter
• retweet the Airdrop on their Twitter handle(with proof)
• provide a correct wallet address(BSC)

6.)Give and explain an example of an Airdrop event that has passed and the airdrop was successful. Then give one more example that has been proven to be a fraud. (It is not allowed to take the example that has been taken in question number 5).
An example of a successful airdrop is the decred airdrop. It accepted participants between December 15th 2015- January 18th 2016. It was a simple airdrop to partake in as long as one could provide an email address, a link to an online profile and a well detailed reason why he/she was interested in the project. When one was able to provide this, a link would be sent to the person showing him/her how to get a wallet address for the decred coins. A total of 3244 addresses we're submitted but due to duplicates made, only 2972 wallets received rewards. 840,000 units of DCR was shared to the wallets leaving approximately 282.64 DCR in each wallet. This airdrop is believed to be one of the fastest and most successful Airdrops in history.

Source | License details

On the other hand, an Airdrop that has proven to be a fraud is the Telegram BitBat Airdrop. This was one of the airdrops I tried to join but refused to give in to the requirements 😂.

These were the announcement and Airdrop channels on telegram

The requirements were for members of the Airdrop who supposedly "won" to send a certain amount of cryptocurrency into the wallets they provided

When other people sent some crypto to the wallets, they never got their BitBat coin and telegram later labelled them as a scam.

7.)Look for an example of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required).
The ongoing Airdrop event I shall be analysing is the EDOGE Airdrop. I shall be doing my research on the coin, it's possible value in years to come and the developer(s) of the coin. My research results shall be gotten from elondoge.io.

The Developers of the coin

EDOGE
EDOGE has just 3 developers who are said to be enthusiasts of Elon Musk's Mars project. Although no actual names have been mentioned, the developers are said to be the eloncaptain, his pet the dogemater and his robot sidekick, Muskbeater.

The coin

EDOGE was made in order to fund the Mars project. Now it is on the verge of achieving more as it is set to be the currency that will be used on Mars. It currently has the rank the following statistics:
Rank: 3358
Price: 0.000000004853
Market cap: $1,881,036

Mr. Musk said he will do anything humanly possible to make sure the Mars project goes the extra mile and growing this cryptocurrency is one of it and we as normal individuals can be part of this beautiful project by participating in it. So with this, I'm sure that this Airdrop isn't a scam.

8.)Explain the steps to participate in the Airdrop of your choice. (Screenshot required).

How to be part of the EDOGE airdrop

• Firstly, you visit coinmarketcap.com and log in.
• Then you click on the menu on the top right of your home page

• Select calendar

• Click on free airdrop

• On this page you would be shown different categories of airdrops, some ongoing, upcoming, etc. Youll also be shown different airdrops below. On seeing this , we click on EDOGE.

• On the next page, There's an option below to join the airdrop, click on it
  

-You will then be shown the requirements in order to join the airdrop

• When you meet up with the requirements, you simply click on join airdrop at the bottom of your screen.

That's how one can participate in the Elon DOGE Airdrop.

Conclusion
Airdrops are simply giveaways in cryptocurrency and have been adopted as a market strategy by coin developers to advertise their coin in order to get investors/holders for the purpose of building up their coin value and making it worth a lot. I've Neve participated in a legit Airdrop but with this lesson, im sure i will know what to do when next I want to participate. Thank you.

CC: @wahyunahrul