Airdrops can be a great way to obtain a quick buck, or in other words, free cryptocurrencies. For those who don’t know what an airdrop is, the term will be explained in depth below.
An airdrop is a way to distribute new coins or tokens to the wallets of some users free of charge. Why would projects give cryptocurrencies away for free? Well, the answer is quite simple. Some projects give away crypto in order to promote themselves, while some are community-based and may airdrop some of the crypto or maybe even all of it.
Airdrops are considered a really common marketing strategy.
Reasons for airdropping:
- Creating Awareness – Since the success of the project equates to an increase in the value of the coin, the receivers will pay much more attention to the project.
- Alignment of Interests – Initial Coin Offerings (ICOs) are banned in some countries, so airdropping is a replacement by which those in affected countries can have access to the coins.
- Alternative Mechanism – For extremely known cryptocurrency projects, some people don’t have the chance to participate in the public ICO, so the project will organize an airdrop to its supporters.
- Sign of Appreciation – An airdrop is a fair mechanism to facilitate introduction towards a distributed network of users.
- Fair Token Distribution – You can get airdrops in two different ways. You can get it as a surprise or they can be listed on some websites.
Most airdrops require participation in certain social media tasks like following, liking, commenting, joining telegram groups, etc. while others may only ask for your wallet and email. Sometimes you may get random airdrops just for using an exchange, holding a coin, having an old wallet, or by having your wallet signed up with various crypto projects.
Some other ways to find airdrops faster include being active on Reddit, Twitter, and some crypto telegram groups.