With the popularity index of cryptocurrencies rising every day, the scams surrounding it are growing too. That is why if you find scams around cryptocurrency bounties, airdrops, don’t get surprised or fall for it.
Cryptocurrency world is full of scammers trying to steal your private keys and cryptocurrency funds. To avoid getting scammed or hacked we would highly recommend to follow our rules for being safe in crypto space:
Never share your Private key, Keystore / JSON File or Mnemonic Phrase
This is the most important rule in the crypto world. DON’T EVER share your private key! This key is created for you alone and you should never share it.
Never send money or tokens to participate cryptocurrency bounty and airdrop
Paying money to take part in an airdrop or bounty is never a good idea. Once your money leaves your crypto wallet, there’s no way to get a refund.
Create a new dedicated email address for airdrop and bounty programs
Many airdrops– legitimate and illegitimate alike– require participants to provide an email address. Using a separate email address for airdrops and bounties is a good idea because it prevents you from receiving unwanted promotions. And if the airdrop turns out to be a scam, your main email address will remain off the scammer’s radar.
Use a unique password
Passwords, don’t use the same password when registering on an airdrop site, as you use for you exchanges, wallets or email. If you use the same password for everything and you sign up using your main email account, you’ve just provided a scammer with everything they need to access your email account. This is why you should always use unique passwords when signing up for airdrops and bounties.
Be wary of providing personal data
There are simply too many scams out there, and I’m not comfortable sharing my name with projects that aren’t yet known and established.
Research the company behind the airdrop
The Cryptoworld is relatively young, however because of the popularity there is A LOT of info out there. Unfortunately not all sources are reliable. As is also the case with Airdrops. Whenever you find what seems like a good project, please check various platforms for reliability.
Avoid KYC if you are even a bit suspicious
KYC stands for Know Your Customer. In most cases, to participate in an ICO you will need to provide your personal data (or, to do a KYC process). But, if you are even a bit suspicious of the ICO project. I’d advice you don’t provide your KYC
Create a new Ethereum address
Using an empty crypto wallet to collect airdrops and bounty rewards puts yet another layer of protection between you and potential scammers. I feel safer that way.
As a rule of thumb, you should never promote a project which does not seem legitimate and more importantly, never ever share your Private key, Keystore / JSON File or Mnemonic Phrase.
If you always do that, then your crypto assets will remain safe.