On Saturday December 12th, free Spark tokens are going to be issued
to XRP holders, but there are a few things you need to know
to be sure you can claim yours. Hi, I’m Nate Martin, and we’re going over how to claim
the Spark token airdrop in our 2…minute…tutorial. In a few days, 45 billion Spark tokens will be issued
through an airdrop – meaning they will be assigned freely
to confirmed holders of XRP.
The spark tokens,
which are sort of a fork of XRP, will be issued by The Flare network. Why is Flare giving away free coins? Well, airdrops are a way of gaining attention
and publicity for new projects while targeting active cryptocurrency users. Here’s how it will work. The Flare network will take a snapshot
of all public XRP balances on Saturday December 12. If you hold XRP and are included
in that snapshot, you’ll receive the same amount
of Spark tokens when the Flare network goes live
in the first half of 2021. So how do you make sure
you’re included in the snapshot? Well, the easiest way would be
to make sure your XRP is held on one of the participating exchanges
during the snapshot. Bitstamp, Binance and Bitfinex
are just a few of the exchanges that will be included in the snapshot.
If you don’t want to keep your XRP
on an exchange, you can store it in one of the participating
non custodial wallets such as Ledger or Exodus. Once the snapshot is complete, you can safely move your XRP
to wherever you choose. And if you’ve missed the snapshot
you still have 6 months to claim your tokens – but that process will be
a bit more complicated. Is it worth the hassle? Nobody really knows how much
these Spark tokens will be worth. From our experience, airdrops usually lose value
once they are distributed but that doesn’t necessarily mean
that this time won’t be different.
So now you know how to participate
in the upcoming Spark airdrop. If you’d like to learn more about
participating exchanges and wallets, or how to claim tokens after the snapshot, visit the links in the description below, and I’ll see you…in a bit. If you've enjoyed this video,
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