HOW PROFITABLE ARE AIRDROPS?
Every once in a while an airdrop can be very profitable. Take the example of Oyster Pearl that sent over 2000 PRL to some airdrop participants, which eventually went up in value to over $5 per token. At the same time, Polymath sent over 200-250 POLY to participants of airdrop, which has since hovered in value between $80-$200. In general, most airdrops offer a very small amount of tokens which are barely worth the gas to send it to an exchange.
It is important to remember that not all companies offering free tokens do so to build the value of community. Airdrops can also be used to propagate scams. Here are some airdrop scams to watch out for:
Private key scams are designed to trick you into giving out the private key to your wallet. A real airdrop asks participants for their wallet’s public address. A scam airdrop, however, asks for the private key to your wallet as well. Avoiding this scam is simple is easy. Never give out your private key for any reason.
Another type of scam airdrop is designed to collect personal information, either to sell to third parties and/or to use for future phishing attempts. These scams claim to be giving away tokens but the projects are fake. The main goal is to get your email address, wallet address, social media info, etc. The best way to avoid an information trolling airdrop is to research the project that is supposedly behind it. Most do not even have a website, let alone a whitepaper or social media presence. Avoiding projects without online presence is key to not being scammed.