Crypto assets are currencies that can be used for virtual transactions. Some use cryptocurrencies as investment assets. Regarding crypto assets, one of the terms you may have heard is crypto airdrop. Crypto airdrops are free coins usually given away by companies like bitcoin evolution that create cryptocurrencies to members of their community.
Crypto airdrop is a form of marketing strategy. Its objective is to develop general alertness to the use of new cryptocurrencies. With this strategy, it is hoped that viral growth will occur on social media and the internet.
A crypto airdrop involves sending free coins to the wallets of members of the blockchain community. After a straightforward service, users will send the new virtual currency to members, such as sharing information about the new currency on social media or connecting with other members.
You can get a crypto airdrop after knowing what a crypto airdrop is. Previously, several tools needed to be owned, namely:
1. You can use MetaMask or MyEtherWallet. For the long term, you choose the Ledger Nano S wallet. The Ethereum wallet must be active. If it is only used to earn coins, the wallet will not accept crypto airdrops. A coin team will select the status of the wallet used.
2. Telegram account is a tool used to exchange messages by ICOs. To avoid being disqualified, you need to keep this account active before accepting coins in your Ethereum wallet.
3. Some companies that provide crypto airdrop facilities usually require users to follow Twitter. Some have asked members to re-tweet several tweets.
4. You are also required to prepare an email address for confirmation needs. It will take about 1-2 months to receive the coins. You can find out the status of receiving coins by visiting Etherscan. If the token is available, the Token Tracker will appear. You can directly withdraw it via MyEtherWallet.
5. Because it is pretty easy to get, some people hunt for these free coins. There are already trapped to invest. A legitimate crypto airdrop is purely for promotional activities, not capital investment.
Here are some tips for beginners to invest in bitcoin.
1. Bitcoin Price Movement
One of the essential things you need to learn when trading Bitcoin is the “Bitcoin price movement.” To make it easier for you to monitor Bitcoin price movements that are relatively volatile, you need an application or software to help you with this. Knowing the current and past Bitcoin price movements can help you determine the momentum of when to buy and when is the best time to sell your Bitcoin.
One of the best moments to collect the most valuable cryptocurrency right now, namely Bitcoin, is after the halving day. Bitcoin price is predicted to increase significantly during the 12 months since the halving day.
2. Applying Risk Management
For those of you who don’t know what risk management is, risk management can be likened to the brakes when driving when conditions are dangerous. It is closely related to the psychology of novice investors who often feel selfish to reap the maximum profit, without realizing that the consequences of risk always accompany investors when trading Bitcoin.
The more you trade, buy and sell Bitcoin, you also have a significant risk of loss. So, determining the amount of risk of loss and profit that you can receive depends on each investor’s risk profile.
3. Make Purchases Gradually
For beginners, you should apply the purchase method using Dollar Cost Averaging (DCA) by purchasing Bitcoin assets at a specific price in stages from 100% of the funds you want to allocate. The advantage of this method of buying is that investors don’t have to be afraid to guess whether the price is at the top or bottom, and the investment costs are relatively minimal because they don’t place all their funds directly.
4. Choose a Trading Platform that has been registered with CoFTRA
Security in investing is one of the reasons why investors put their funds in this type of investment instrument. This is the same as investing in Bitcoin and other digital assets. Of course, you need to choose a crypto asset trader who is already safe and regulated by CoFTRA as the regulator in Indonesia. For example, the Pintu application charges a flat withdrawal fee of IDR 4,500 for every transaction made.
Those are some ways to play Bitcoin for beginners that you can apply to invest in Bitcoin safely and wisely.