As the general public’s interest in cryptocurrency has waned since the beginning of 2018, there’s been a considerable amount of work put into blockchain technology across the board. New coins are being released into a bear market while the most enthusiastic “cryptoheads” are scouring the web for new blockchain projects and explosive ROIs.
An increasingly popular method for marketing new cryptocurrencies is what’s known as an airdrop. While it’s a great way for investors to make “free” money, not all airdrops are created equally. We’ve pulled a few out of the fog offering the best reward-to-effort ratios.
It’s worth noting the projects listed below were not evaluated as long-term holds. If you’re looking for ways to get into the consolidating crypto-sphere without sacrificing chunks of your paycheck, then airdrops are your friend.
FXPay (FXP)
What is FXPay?
FXPay is setting out to upgrade current Forex systems with blockchain technology, creating cheaper and faster transactions for banks, liquidity providers, brokers, and traders.
For those who don’t know, Forex is shorthand term for the Foreign Exchange, which is a marketplace for trading international currencies. It’s similar to cryptocurrency in the sense that it’s electronically decentralized and deals directly with trading currencies.
The Forex market is massive, seeing US$5.4 trillion in daily transactions. In comparison, the crypto market sees less than US$5 billion each day. When such a massive industry is forced to deal with a variety of international institutions and individual traders, there’s bound to be inadequacies built into the process.
There are 3 main issues outlined in the FXPay whitepaper that the Forex market currently faces. First on the list is “the fees incurred by the trader, broker, and liquidity provider when withdrawing and depositing funds.” Second, there’s a lack of consistency regarding said fees, and it stems from a “lack of standardization” in the Forex space overall. Lastly, the process of exchanging currencies is complex and can last multiple days in this space.
By introducing blockchain technology to the Forex market, FXPay will offer traders and brokers low, stable fees with near-instant transaction times. This in-turn will increase profit margins and decrease costs, causing more money to enter the market with a lower barrier to entry.
How to Participate
To participate, you’ll need to create an account with Telegram. Next, you’ll complete the entire process by interacting with the FXPay Telegram Bot. The bot is easy to work with and you can check your balance as you go. The tasks are listed within the interactive chat and you can always get human help in the community channel.
Completing the entire task list means you’ll earn 31 FXP, which has an estimated value of $50. FXP is an ERC-20 token, so make sure your ETH wallet is ERC-20 compatible. After entering your ETH address in the Telegram bot, you’ll want to add the FXP token to your wallet. For that, you’ll need the following information:
- Token Contract Address: 0xdc2228f3538b5ef7af6742ae62239df9ea56c675
- Token Symbol: FXP
- Decimals of Precision: 8
The FXPay airdrop distribution is scheduled after the ICO ends on October 31, 2018. The countdown for Pre-ICO Round 4 is set for July 15, which could be the end of this airdrop.
BigBang Token (BBT)
What is BigBang Token?
BigBang Token is the utility token that will be used for the loyalty program in the Bing Bang Platform. BingBang has created an entire ecosystem in the online casino and eSports industry, which is estimated to reach a volume of almost US$52 billion by the end of 2018. Since the advent of internet gaming, the market has seen tremendous growth while sustaining its fair share of growing pains.
The online gambling industry is currently facing limited transparency and regulation. This leaves little insight into gamer’s behaviour, which stifles the encouragement of positive standards and reported abuse. Since companies are often forced to outsource necessary infrastructure to countries with more lenient gambling laws, the result is a scattered and stigmatized industry operating in and out of a so-called “grey marketplace.”
By introducing a decentralized, public ledger to the space, there would be an instant increase in trust and transparency between actors. This increase in trust would naturally allow the system to self-regulate under the light of open public inspection.
Since the current industry is spread out amongst different operators, insight is limited. With a decentralized platform allowing an array of operators, gamers could trust their loyalty points will transfer between different games. It’s akin to a franchise casino company offering a variety of games and locations while using the same chips.
How to Participate
Participating in the BigBang Token airdrop is fairly straightforward. There’s a list of social media accounts they’ll ask you to follow or like. It differs from the other airdrops in this article because all tasks are required to receive your tokens. It’s an all-or-nothing event.
After completing 6 social media-related tasks, participants will be required to fill out a form with their account names and ETH address. This is an ERC-20 token so make sure your ETH wallet is compatible. After completing the tasks, you’ll have made a quick $75 worth of BBT. For a simplified list of requirements, click here.
HireVibes (HVT)
What is HireVibes?
HireVibes is what happens when you put headhunters on the blockchain. The company plans to build a dapp that serves as an alternative to the traditional recruitment agency business model.
Instead of relying on specialized recruitment agencies, HireVibes will create communities that empower crowdsourcing employment. The idea is that a crowd of people with an incentivized recruitment platform is more effective than whatever an individual recruiter can offer.
The HireVibes dapp allows businesses to pay their employees with cryptocurrency while saving money throughout their hiring process. In the case of a successful hire, employers are charged 7.5% of the job’s pay.
Jobseekers are incentivized to find a job with the dapp because after being hired successfully, they’ll receive a 5% bonus in HireVibe Tokens (HVT) on top of their pay. Of the 5% HVT bonus, 1% is reserved as a donation amount to be allocated toward projects of the new hires’ choice.
What’s cool about the HireVibes process is that the 5% awarded to new hires is redistributed from the 7.5% charged to employers after a certain period of time (depending on the type of hire). If the jobseeker applies directly for the job and succeeds, they’ll see a 4% bonus in HVT with 1% being devoted to their donation fund. If the jobseeker is referred to the job by a recruiter in the crowd, 2% goes to the jobseeker, 2% goes to the recruiter, and 1% is devoted to the donation fund.
How to Participate
HireVibes was included in this article in order to address the interesting realm that is EOS airdrops. The dapp will be released using EOS.IO blockchain software and it’s not alone. The process for participating in EOS airdrops is unlike the two airdrops mentioned above.
If you’re looking to get involved, you’ll need to have a minimum amount of EOS (usually 100 tokens) stored in a registered wallet. The more EOS you hold, the more HVT you’ll receive. The exact ratio hasn’t been announced and neither has the snapshot date.
With a total token supply of 350 million, 71.4% (250 million) will be distributed via airdrop. To stay up to date on HireVibes, check out their website and stay tuned for new articles dropped on their Steemit page.
Related: 10 Promising Cryptocurrencies to Watch in Q3 2018
