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A crypto wallet is a device or app that stores digital assets. Unlike the physical wallet in your back pocket,... More. To celebrate, the project is giving away 500 million XLM to registered Blockchain wallet users in a Stellar is an open-sourced, blockchain-based database that was developed by the Stellar Development Foundation (SDF). SDF is a nonprofit organization... More Crypto is a rapidly expanding space and new ways to distribute tokens are continually being developed. Airdrops are used by... More.lumens (XLM) recently announced its addition to the list of supported digital assets in Blockchain’s cryptocurrency
Here is how you can get your free XLM!
Chances are that if you have been invested or interested in the cryptocurrency market this past year, then you might have heard about ‘airdrops.’
An airdrop is a distribution tactic generally used by a project during its Initial Coin Offering (ICO) stage, where the company will give away a specified percentage of tokens for free.
The requirements for participating in an airdrop differ depending on the project and can include holding a ‘parent coin’ like(BTC) or (ETH), registering know-your-customer (KYC) information, or performing some kind of social media tasks.
This method gained popularity in the altcoin boom at the height of the 2017 bull run as a way for blockchain projects to advertise themselves and get the word out about their tokens and visions.
Anyone looking to participate in an airdrop should take the time to research the project and team thoroughly, especially before giving them any information. Always exercise good judgment and common sense when participating in an airdrop and never give out any information that you consider private or are not comfortable sharing.
Global payment solution Stellar lumens (XLM) announced yesterday a surprise 500 million XLM airdrop — worth $125 million at current prices — to celebrate being added as an asset in the Blockchain digital wallet.
At the time of writing, Stellar is ranked 6th in total market cap value and is quite well-known within the blockchain and cryptocurrency community.
Each person participating in the airdrop will receive 100 XLM, worth approximately $25 at today’s price until the distribution of 500 million XLM has been completed. Previous users of the Blockchain wallet will be prioritized in the case of this particular airdrop.
[bctt tweet=”Each participant to the Stellar airdrop will receive 100 $XLM, worth $25 at today’s price, until the distribution of 500 million XLM has been completed.” username=”beincrypto”]
Before beginning the process it should be noted that the XLM airdrop requires KYC registration that includes providing a photograph and a matching photographic identifying document like a passport or driving license, as well as other basic personal information, to receive the tokens.
There are also some regions that are disqualified from participating.
First, we need to make an account on Blockchain by going to blockchain.com and registering an account by selecting ‘Get a Free Wallet’ on the left-hand side.
Next, we need to go to blockchain.com/getcrypto. Enter a valid email address and join the watchlist.
The final step of the process is to register your identity with Stellar after receiving the invitation email. Below, you can see the entire registration form and gauge whether or not you wish to divulge the required information.
That’s it! Enjoy your free lumens!
Have you participated in any airdrops in the past? What are your thoughts on the airdrop model? Will you be snagging some free lumens? Let us know in the comments below!
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