This image is taken from pixabay, colored by me with gimp (I tried to do something, but...). I made all the screenshots.
If you don't know what is an airdrop, it's just a distribution of free tokens by creators of a new cryptocurrency.
Most of the time, when you participate to an airdrop, you have to give your ETH address. This means you will receive ERC-20 tokens, usable on the ethereum platform.
In these lines, you will find some tips to sell those tokens.
In the rest of the post, "mew" refer to myetherwallet and "ED" to etherdelta.com.
Security advices
Lately, there have been a lot of problems with cryptos sites: people visited fake sites and even for the worst cases, their tokens have been stolen. To protect yourself a minimum, write in the URL bar, the site's address and after bookmark it.
It's a one time procedure and you won't go on fake sites (unless DNS compromise). To be out of any risk with mew, follow their procedure to use the wallet offline. If you use Metamask, it will prevent you most of the case if you are going on a malicious site. Be sure that the site has a certificate(pointed by the red arrow on the figure below):
:
These are the URLs to write:
- mew (myetherwallet):
https://www.myetherwallet.com - ED (Etherdelta):
https://etherdelta.com
About Metamask, it is a wallet which takes the form of a browser extension, and it's rather convenient.
Another thing: do not always open mew, your metamask account (or whatever you use to store your tokens) to check your balance. It's useless and you would have to register informations about the token you've just earned (Token contract, token symbol and decimal, but don't worry, it's just for the first time) to see the amount you hold. All you have to do is to go on https://ethplorer.io with your address like that:
https://ethplorer.io/address/"your eth address"
Replace "your eth address" with what is suitable (and without quoting.)
You will see all transactions that occured on your account. No need for private keys.
Before you begin
To trade your token on ED, you need to make a deposit of your token. You will therefore need some ether. ED ask 0.001 eth for deposit. But they refund the unused eth. So you will need at least 0.001 eth (for a deposit). Note that it's the ethereum network fees and not the ED platform fees (which are almost all free, see the help tab on the site.)
Etherdelta
Most of ERC-20 tokens are not listed on exchanges. But on Etherdelta, they are all there and you can trade them.
I don't find my token!
Wie shade! You have 20M dollars, but you'll never be able to touch them!
No, I'm joking...
When you go on ethplorer.io with your address, click on token name, on the "Token Balances" section. You are redirected to a page where all informations regarding the coin are displayed, and notably the contract address on the top of the page. This address is also display on the contract information section. Copy this address. To find the token on Etherdelta, write the url like this:
https://etherdelta.com/#'token address contract'-ETH
Don't forget the '#' character and the '-'. They are parts of the url.
Press enter. If nothing happens, reload the page (F5). Now you see your token and its value on the market ^^
Example
You go to ethplorer.io. You have 10 equal tokens (red arrow):
Click on it, you will have its contract address (below Token EQUAL Token):
Copy it, your ED url looks like:
https://etherdelta.com/#0x5824f275dAb2C59b8972A1Fda45ff404C9A703E3-ETH
No need to search on the buggy interface! Look the url and the name of the token:
Tadam! You can begin to trade.
Voila! I hope I gave you some clear explanations. Don't hesitate to comment and to tell me if I'm wrong or not clear.
Summary
- Have at the very least 0.001 eth in your ERC-20 compatible wallet (mew, metamask, there is also mist), but you will need more for several transactions.
- Write in the URL bar the address of the sites and bookmark them.
- See your tokens balances on
https://ethplorer.io/address/"your eth address" - Find the contract address of the token you want by clicking on it when in ethplorer site.
- Enter ED with the URL:
https://etherdelta.com/#'token address contract'-ETH(don't forget '#' and '-') - Trade