Raicoin Airdrop

****Edit - since posting this, the airdrop has reached the 5,000 member mark and so has stopped early...obviously too many people promoting it :)

For today's post I'm going to bring your attention to something called an airdrop and illustrate it with an example that I've been completing over the last few days so I know that it works.

As I said in a previous post there are over 6,000 types of cryptocurrency, a few of which are worth hundreds or thousands of US Dollars each and many others worth less than a cent (some even less than a thousandth of a cent). Each cryptocurrency is produced for a particular reason, it may be that the developer has some new aspect of security or speed in mind, it may be that they want the currency to be delivered differently or used in a different way but a lot of them are tokens that are integrated into apps and used as gaming tokens or for purchasing items within an app.

Whenever a new token is released quite often the developers will set aside a number of tokens for marketing and publicity. Often these tokens are just given away in return for some kind of task. It may be that the developer wants to get some publicity so they will ask for you to tweet about the new coin and in return they will give you some of it, or they may have developed a new app and want you to download it and refer all of your friends for some tokens.

Whatever task you need to do this sort of promotion is called an airdrop where the developers literally dump loads of new coins into the market for free (or relatively little investment).

As an example there is one on at the moment for Raicoin which the website describes as "A Revolutionary Coin, Designed for Real Life & Daily Use, Instant, Rewardable, Scalable, Programmable, Well Decentralized, Full Mesh Network, Credit Secure System"

The airdrop is a very simple affair although requires you to be a user of Telegram and to download a piece of software (the raicoin wallet) in order to receive the coins which has to be done on a computer running Windows, Linux or macOS (no mobile versions as of yet). I have downloaded the Windows versions and can report no problems with viruses, slow down or anything that my computer has detected.

So how do you take part in the Raicoin Airdrop? 

Follow these steps:

1. Download Telegram and create and account (is you haven't already got one)
2. Visit the Raicoin Giveaway Bot
3. Type something in to start it
4. type in the word verify
5. Follow the instructions to download the raicoin wallet
6. Paste in your raicoin account (written at the top of the wallet, it should start rai_ and then lots of letters and numbers)
7. The above will give you 10 Raicoins but if you want extra you need a referral code, this one: 1270257352 will give you 15 coins every day instead of 10 (you must enter this code the first time you claim as you never get a second chance to enter a code).
8. You will also need to join the Official Raicoin telegram channel

So what does this give you?

The first time you run the bot you will get 10 coins (or 15 if you use the 1270257352 code) minus 1 for the initial setup. And then every 24 hours after that you can run the bot again to get another 10 (or 15) coins. The airdrop will end once they reach 5,000 members or on the 31st December 2020 (whichever comes first) so you need to be quick if you want to participate.

Is it worth it?

At the moment (6th November 2020) each Raicoin is worth approximately $0.004 (although it has been higher than that with a value of $0.01 for quite a while at the end of October, beginning of November 2020). That means that 15 coins is approximately $0.06 to $0.15 (somewhere between 6 and 15 US cents) but the fact that you may be able to get these coins for almost two months means that at the end of the airdrop you may end up with 60 times that amount (somewhere between $3.60 and $9.00 at current prices) and the value may easily go up over the course of the next few months/years (although, of course, it may also go down). But for a few seconds work per day and a simple download it's definitely a good airdrop in my opinion.

What can I do with the tokens afterwards?

At the moment I'm not sure what the strategy of Raicoin will be or how they will be used in the future but for now it is possible to trade these on the Atomars exchange platform for USDT (another cryptocurrency called Tether) that is much more common. I haven't yet looked into this in detail so don't know anything about fees paid or whether there will be any minimum values needed (more research will be needed here).

Thanks for listening and don't forget to use the referral code the first time you claim, if you do you will get an additional 50% coins every time you claim.

Crypto Cardigan

As always I am not giving out any kind of financial advice, the posts in this blog are just my opinions and I cannot be held responsible for any loss of income or damage done by following the post. Do your own research and keep safe.