I have been dabbling in the crypto world for a few months now and every now and recently I learned something new that I’d like to share with you guys. One of the newest things that I have learned is How to Participate in CoinMarketCap’s Airdrops.
By the way, before we continue, please be advised that this is not financial advice (NFA) and should not be taken as such. I’m just sharing with you guys my personal crypto journey.
Before you invest your hard-earned money in any types of investments such as stocks, real estate, or crypto, please consult a professional financial advisor and always Do Your Own Research as well to minimize your risks and to avoid losing money.
Anyway, let’s go back to the topic…
What is CoinMarketCap?
CoinMarketCap is a website that focuses on providing information about crypto assets. Some of the information that you will see on the website includes – the current market price of a crypto asset, charts, crypto analysis, crypto news, and of course airdrops.
What is an Airdrop?
An airdrop simply means sending a crypto asset/token to promote awareness about the new crypto/token. Small amounts of the crypto/token are sent to the wallets of active members or participants for free or in return for a small service, such as retweeting a post sent by the company issuing the crypto.
How to Participate in CoinMarketCap’s Airdrops
Participating in CoinMarketCap’s Airdrops is very easy. And the steps are laid out on the page of the airdrop. It usually consists of various tasks that you will need to do in order to qualify for the airdrop. Please be aware though that this is not a guaranteed airdrop and the company issuing the crypto/tokens usually chooses random winners for the airdrops.
Go to CoinMarketCap’s Airdrop Page
The webpage is https://coinmarketcap.com/airdrop/. If you don’t have an account yet then you will have to create an account as it is needed. If you do have an account already, just sign in.
As you can see on the screenshot, on the left-hand side of the page is a list of the Ongoing Airdrops and on the right-hand side of the page is the list of Upcoming Airdrops.
Complete the Required Tasks
Each crypto company on the list is clickable and once you click on it, it will show you the mechanics on how to participate in the airdrop.
Let’s click on one of them to check what the tasks are shall we?
For this example, Bakery Swap is giving away a total of 3,000 $Bake to 1,000 participants. So, that would be 3 $Bake per chosen airdrop winner.
To be qualified for the promotion, you will have to complete the tasks itemized on the page and you also have to provide your Binance Smart Chain (BSC) Wallet Address, Twitter Handle, and Telegram Handle.
The Binance Smart Chain (BSC) Wallet Address is needed because this is where they will send the airdrop. The rest of the information being asked is required so they could check if you have completed the task (Followed their accounts, Retweeted a post, etc).
The schedule is also available on that page. In this case, the promotion runs from May 29, 2021, to June 5, 2021. The airdrop schedule is not specified though, but I’m guessing that it’ll be right after the promotion period.
And that’s it!
Some Important Reminders and Tips
Mechanics Vary Depending on the Crypto
The example I have given above may look so easy and simple but please bear in mind that it’s not always the case for others. Some will ask you to complete more tasks.
You Don’t Have to Join Every Airdrop
Personally, I don’t bother myself with the other airdrops. I only choose the crypto that I think will appreciate in value in the future. Time is our precious asset and I’d like to reserve my time for other tasks that will give me a substantial return in the future.
Do Not Give Your Wallet’s Seed Phrase to Anyone
If you have noticed, your wallet’s seed phrase is not asked in the mechanics because basically, they shouldn’t and they don’t need to have it in order to send you an airdrop. They only need your Binance Smart Chain (BSC) Wallet Address in order to send the airdrop. I use Metamask for this.
However, please be very careful once you join Twitter/Telegram and other Social Media websites (part of the mechanics) because sometimes, scammers infiltrate these sites and pretend to be a member of the crypto company offering the airdrop.
Sometimes they also pretend to be customer service staff or dev staff and will pretend to assist you with your airdrop concern or questions. PLEASE, DO NOT GIVE YOUR SEED PHRASE to anyone. Sorry for putting it in all caps. I just want to put an emphasis on it.
I’ve just read this online so many times – people losing all their crypto in their wallets because someone got access to it using the seed phrase that the owner willingly gave to them because the wallet owner thought that he/she’s talking to the legit customer service or dev staff of the crypto company.
No one needs to know your seed phrases except you. It’s not needed in troubleshooting anything so don’t be fooled into giving it to them.
CoinMarketCap is not the only website offering airdrop promotions. I will share with you guys once I find some more in the future.
Again, before we end this post, always Do Your Own Research (DYOR) and always protect yourself from being scammed online by making sure that you are aware of how it’s being done by perpetrators. Crypto investing and trading is (relatively) new in comparison to other investment vehicles and you need to always do your own due diligence in order to protect yourself and as well as your hard-earned money. NFA!How to Participate in CoinMarketCap's Airdrops Click To Tweet