Just yesterday alone I shared 7 Airdrops worth over $450 on my private telegram group. Joining airdrops is not something I used to participate in and the only airdrops I got was for holding certain tokens or forks. Due to the current bear market, I've had to limit my investments because of how expensive it is to invest with Ethereum or Bitcoin.
Where in the past I would invest with 1ETH today I have to commit and risk 2ETH instead, although the dollar amount for investing hasn't changed this is 1 more Eth than I am willing to risk. Hence I was ecstatic when I heard that Tether is fully backed by US dollars and I'll start adding it to my portfolio solely to be used during bear markets. Anyway, let me not digress any further.
My main focus for 2018 is in researching different kinds of ICO's and picking the ones I believe to be the most profitable. I share the findings with my followers on social media and distinguish the ICO projects based on their short-term (6mnths), medium-term (1yr) and long-term (2yrs+) profitability.
There are different criteria's I use to speculate on the profitability of any ICO project in those time frames but the most important to me is the quality of the product and the team. I have invested in good projects before but because the team lacked certain skills and experiences it took time for the project to take off for investors to realize their ROI.
Airdrops, on the other hand, require a different strategy IMO. Since airdrops are usually capped on the number of people that can participate it is hard to do thorough research on the projects as the airdrops fill-up within minutes. The cryptocurrency space is also saturated with airdrops which I suspect also has to do with the current bear market. Projects are fighting to get attention to their project or ICO and airdrops are a smart way to do that.
Airdrops which offer lower rewards often have higher caps than those which offer higher rewards. It is finding the airdrops that offer high rewards with limited requirements for you to do so because often times the higher the payout of an airdrop the more tasks you have to complete to claim them. Depending on your time and how much it is worth these could end up being costly if you could have gained the same amount for less work or time.
Thus, I created a new private telegram group for my followers where I've been posting only high paying Airdrops ($20-$200) and will post ICO's as well once the market cap recovers at least 50%. Like in any other market (especially an unregulated one) there's bound to be bad actors who'll advertise airdrops only to never fulfill their obligation to distribute airdrop tokens. I'll keep close attention as to what characteristics constitute a "scam airdrop" when I have enough data to analyze because as I mentioned I'm new to airdrops.
There are common red-flags that I avoid when partaking in an airdrop and one that I've come across enough time now is when you're asked to complete certain tasks but the airdrop form fails to ask for your Ethereum address to send your tokens. Another possible red-flag which I haven't come across yet is if you're asked to enter your private keys in order to receive tokens. We all should know by now that is a huge no-no but in case you're new I thought should mention it, you never share your 'private keys' with anyone.
I apply basic research when joining an airdrop because of the time constraints but I never share airdrops I suspect to be fraudulent. I also don't post airdrops that payout anything lower than $20 as I deem those to be a waste of time. You're forced to hodl any assets worth less than $20 dollar because of the fees you'll incur trying to exchange them, assuming they're not worth much less when people start dumping them on exchanges.
If you're interested in joining our private telegram group you can do so in the links below. I would also like to hear what your thoughts are on airdrops and what are the different strategies you use when partaking in them.
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