CoinLaunch is an ultimate free platform that researches, reviews and ranks all the most current cryptocurrency giveaways. Here, we verify different crypto events, analyze their rules, mechanics and profit potential, filtering out imposters to provide you only with legitimate crypto contests and other blockchain sweepstakes with solid reward potential. Our specially developed CoinLaunch score, assessment of an event’s difficulty level and other metrics altogether will help you compare all the available options and pick a crypto giveaway having the best effort vs reward ratio that will perfectly fit your skills and meet your objectives.
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A cryptocurrency giveaway is a promotional event during which participants potentially can win some rewards for their activity. Most of the time crypto giveaways are organized by crypto companies, such as projects launching new tokens, crypto exchanges and so forth, to promote their brand, increase awareness, and boost community engagement. Usually, to become eligible for obtaining a reward, people need to complete particular tasks or make simple actions to get a chance to win prizes. The variety of the actions may include subscription to a newsletter, creation and distribution of memes, follow project’s social media channels, etc.
Note, cryptocurrency giveaways also gave rise to various fraudulent schemes, where scammers ask for a user’s personal information that shouldn’t be shared (for example, private and public blockchain wallet keys) to get access to people’s funds.
Due to the popularity of BTC as the main cryptocurrency, some companies exploit its reputation by creating giveaway scams that falsely claim to offer Bitcoin rewards. Trustworthy Bitcoin giveaways, just like any other cryptocurrency giveaways, can only be conducted by reputable companies with transparent participation rules and distribution of rewards. Some of the well known BTC giveaways look like the ones hosted by CEX.io and Crypto.com. Remember that when evaluating a crypto giveaway, pay attention to the organizers’ reputation, their official channels, entry requirements, and rules. Be cautious of giveaway scams that request upfront payments or make unrealistic promises, as these are common red flags to watch out for.
Discord crypto giveaway is a common practice among crypto projects to engage the community and increase its loyalty to the brand. It is not necessarily a scam, however, such cases also happen. Scammers hunt for easy prey: people searching for free tokens that blindly trust others. That is why it is crucial to do your own research and weigh the pros and cons before participating in any crypto giveaways.
If someone is reaching out to you claiming you won a giveaway, do not ever respond to any DMs in Discord unless you are conversing with a friend privately. Assume that any unsolicited DMs or URLs not supplied in official project’s Discord announcements are questionable, if not a fraud. Even when the information provided in the main project channels, use caution because Discord is frequently hacked and fraudulent links may be put into your trustworthy channels.
Never link your wallet to any site without properly researching it first. When connecting to any site that you are not entirely sure about, an effective practice is to use a second (reserve) wallet with a small amount of funds. Finally, always read the agreement you are signing when connecting a wallet to anything. Failure to do so may allow someone to fully run out your bank account.
While there may be some legitimate giveaways conducted by well-known and reputable individuals or companies in the cryptocurrency industry, these are likely to be rare and typically have strict eligibility requirements.
Unfortunately, there are many scams and fraudulent schemes that attempt to trick people into sending Ethereum or other cryptocurrencies to a fraudulent address or providing personal information in exchange for the promise of a giveaway. These scams often use fake social media accounts, impersonate well-known individuals or companies in the cryptocurrency industry, and employ various other tactics to make their offers seem legitimate.
If you do decide to participate in an Ethereum giveaway, be sure to follow all instructions carefully and check out the ranking of this specific event on CoinLaunch!