Latest Upcoming Airdrops in 2023: Types, Risks and How to Stay vigilant

Airdrops have become an increasingly popular way for cryptocurrency projects to introduce their coins and tokens to the public in recent years. With the advent of 2023, many cryptocurrency projects are joining the trend and taking advantage of the technology behind airdrops to launch their own digital asset. In this article, we’ll take a look at some of the latest airdrops that have been announced for 2023.

What is a Cryptocurrency Airdrop?

A Crypto Airdrop is a free distribution of a small number of tokens or coins to wallet addresses as a part of the promotional event of a new project. This marketing strategy helps to create awareness and grab attention leading to an increase in user base and token circulation. 

They are announced on social media platforms like Twitter, Reddit, and Telegram along with their official websites, and cryptocurrency forums. To receive tokens, users need to perform certain tasks like retweeting their posts on social sites. And also recipients need to hold a minimum quantity of coins in their wallets.

The project’s aim is to spread awareness and make maximum trading when it is launched as an Initial Public Offering (ICO) on an exchange. The tokens can be worthless If they do not have liquidity on an exchange.

Types of Airdrops

1. Standard/Bounty – Need to complete tasks like retweeting a post.
2. Holder– Should hold other cryptocurrencies to get qualified.
3. Exclusive– Provided for dedicated members of the NFT/Web3 community.
4. Raffle– Distributed by lottery system like selecting randomly by the team.

What are the risks involved in Crypto Airdrops?

With the influx of newbies into the crypto space, scammers are taking advantage of newcomers’ inexperience in the crypto industry and luring them. 

Some of the Airdrops are legitimate while most of them are fraudulent and steal the user’s wallet and personal information. Some Airdrop projects scam users by asking them to connect their wallets to phishing websites to claim the Airdrop. 

How to Identify Crypto Scams?

• Be watchful when they ask you to send cryptocurrency to an address to verify your wallet. Some legitimate projects do ask to send cryptos for verification. Do proper research about the project. 
• Generally, the tokens will be in small amounts for distribution. If they are offering a huge volume, be cautious.
• Avoid Airdrops if they ask for your private keys or seed phrase to deposit their tokens.
• Participate in Airdrops from reputed sources and avoid unfamiliar websites.
• If the projects guarantee you huge profits, better stay away from them as cryptocurrency is a volatile market and profits can’t be guaranteed. 
• Go to their official site and verify if the whitepaper is well written and it includes all the information regarding the partners, team members, and their experience in the crypto industry, list of token allocation, etc
• Check if the project’s social sites are linked to their official website and vice versa. The social accounts should have clear information about the project’s goals and objectives. 
• Check the legitimacy of the social media channels to check if it is a fake account.
• Report the accounts if it is a scam and unfollow them.
• Some of the projects may be pump & dump schemes.

How to stay away from Airdrop scams?

1. Create a new wallet specific for Airdrops without any cryptocurrencies in it.
2. Store your cryptos in a hardware wallet.
3. Research about the project.
4. Never share your private keys or any personal information with anyone.

latest Upcoming Airdrops in 2023

LunaFi

LenaFi is a decentralized peerless DeFi betting protocol. Users who’ve deposited at least $50 to Housebets, Rollbit, Stake, SX Bet, BC Game, Polymarket, Decentral Games, Sportsbet, Zcasino, and Roobet are eligible to claim free LFI worth between $50 to $5,000.

Website link: Housebets.io

LFI Airdrop season 1 will be live on 27 April and the total Supply is 1,000,000,000 LFI.

Vela Exchange

Vela Exchange is a decentralized exchange with advanced trading capabilities. Users need to connect their Arbitrum wallet and trade with ETH or USDC on the platform to be eligible for the Airdrop. The larger you trade, the bigger the reward. The total Supply is 10,000,000 VELA.

Visit: https://app.vela.exchange/

Arbitrum

Abritrum is a layer 2 solution for the Ethereum ecosystem to boost speed and scalability. The native token of Arbitrum is ARB and a total of 1.162 Billion ARB is allocated for the Airdrop. It went live on March 23. Users can go to their official page to check their eligibility to claim the reward.

Official page: Arbitrum — Check your airdrop eligibility to govern Arbitrum

CryptoTanks

CryptoTanks is a free-to-play game with an 8-bit design. CryptoTanks is airdropping a total of 3,000 BUSD and 5 Tank NFTs to the top 55 participants. CryptoTanks was based on the cult Battle City game released in 1990. Users need to complete the CryptoTanks quests to be eligible.

Visit  Zealy – Join the movement

Gala Games

A Web3 gaming project, has announced that on May 15th, all GALA token holders will get a free upgrade to GALA v2 tokens via airdrop. No action is required for users holding GALA in their Ethereum Wallets.

          Website: Gala Games

SupraOracles

1. SupraOracles is a next-generation cross-chain oracle solution. SupraOracles is airdropping free SUPRA tokens to users who complete tasks. 

Sign up for the airdrop, complete KYC, and do small tasks to win 25 Stars and 200 $SUPRA tokens. Users can also earn through referrals.  The total supply is 10,000,000,000 SUPRA.

Visit: https://supraoracles.com/

In conclusion, airdrops are a great way to get new users on board with crypto, but users need to be aware of the risks involved. There are several ways to protect yourself when participating in an airdrop: read the terms and conditions carefully, use a secure wallet, and only join airdrops that you trust. Finally, be sure to stay up-to-date on safety announcements from the airdrop issuer.

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