Cryptocurrencies began with Bitcoin and then the world introduced tons of variety for people to explore, trade, invest, earn and have fun with. We decided to throw some light on the exclusive details of one such variety- SPARK.
SPARK is known to be one of the recent members of the crypto family that works as a utility fork of the efficient XRP blockchain. It is designed to be Flare’s native token that can be put to use for collateralizing the issue of FXRP, which can be explained as a representation of XRP on Flare.
Users can also make use of it for taking control over the spam of the entire blockchain network along with the ability to be used as collateral among applications, an oracle contributor, a method for governance on the network.
Here, in this read, we’ll be walking you through specific details on the SPARK Airdrop that is planned to be put in action soon. The read will include the steps of claiming spark tokens in general followed by the steps that would help you claim SPARK tokens on Coinbase, after all, it is the best exchange.
Understand what the Coinbase SPARK Airdrop is
There has been a lot of uncertainty in the crypto markets and one of the changes that the market is about to witness would be the SPARK Airdrop. And yes, it is important to have some knowledge about the airdrop before we tell you how you can claim SPARK tokens on Coinbase.
The Flare blockchain network has been designing and laying down a structured plan to airdrop SPARK for months with an aim to encourage the adoption of the token worldwide. As and when the network goes live all the eligible holders would be gifted with 15% of their claimable FLR (Flair) tokens.
In addition to that, they will have the authority to claim a least of 3% per month after. Also, if you’re wondering who is eligible for the claim, here’s what we know- Individuals holding XRP on the 12th December 2020 will get a 1:1 airdrop of SPARK and investors with XRP on any exchange will have to check for the crypto compatibility.
Steps involved in claiming Flare’s new SPARK token
You need to add a facile message key for claiming SPARK that ought to be representing a Flare address into the XRP Ledger account. It would simply be informational and, in no way, would affect the security. Let us walk you through the steps of claiming SPARK, in general before you go on to claim SPARK tokens on Coinbase:
- Begin by getting a wallet service that will be compatible with the Flare blockchain network and thus, will be compatible with SPARK as well. Also, ensure getting a backup of your wallet addresses, recovery seed phrases and private keys.
- Now, that you have a wallet account for crypto, we would suggest you move ahead and copy your wallet address (preferably one that does not hold any asset).
- Third, and the final step is to set a message key but to do that here’s the way- launch the XRP toolkit and link it to your wallet. Now copy-paste it in the “Message Key” box under “Properties” in the Account menu. Navigate to convert your FLR address into the necessary format and hit “Update”.
Know when will SPARK tokens be distributed on Coinbase
Well, it has been rumored or partially announced that Coinbase will have the ability to facilitate the future SPARK airdrop to all the eligible users on Coinbase.com, Coinbase Pro and Coinbase Prime platform.
The exchange has not yet decided whether to list SPARK for trading, buying or even selling but, is said to be supporting the participation of its users in the upcoming airdrop. Thus, you do not have to take any action to claim the SPARK token on Coinbase, it would simply be sent into your holding accounts or your wallet accounts automatically and instantly with the airdrop.
The detailed read above has been created to help you understand the concept behind the upcoming SPARK airdrop. To refresh your memory, SPARk is a native token of the Flare blockchain network and the airdrop is set to be live soon enough (after several months of planning).
Reading this data piece, you are now aware of what the airdrop is all about and is it good enough to encourage more and more people to adopt crypto engagement along with steps to claim the tokens, and some exclusive detail on what you have to do to claim SPARK tokens on Coinbase.