The crypto airdrop have been the talk of the crypto world recently. You may have heard that people are receiving free tokens and coins for trading them and making free money.
Well, afterall free is good.
In this post we are explaining about crypto in a simplified format.
It is a great marketing strategy as it helps to publicize about a coin or token or exchange among the cryptotraders.
An airdrop is made to the traders after the token sales of a certain crypto token or launch of an ICO.
So basically people are getting certain tokens and coins for helping the blockchain by holding or spreading the words through social media about the coins.
The airdrops are usually sent to your ethereum wallet or the wallet of the project's own cryptowallet. So you'll need to get a reliable wallet to receive airdrops. You can also use MyEtherWallet web wallet for your ERC20 based tokens. Don't use exchange wallet address for your airdrops as you don't ow the private key.
If an airdrop is made by an Crypto Exchange then the token may be dropped to you in the same exchange account.
Never submit your private keys and passwords to anyone.
Stay alert, stay safe!
Well, afterall free is good.
In this post we are explaining about crypto in a simplified format.
What is a crypto airdrop?
An Airdrop for a cryptocurrency is a process by which the crypto holders are awarded by distributing free tokens or coins of a blockchain which may gain more value in the future making the holders some money.It is a great marketing strategy as it helps to publicize about a coin or token or exchange among the cryptotraders.
An airdrop is made to the traders after the token sales of a certain crypto token or launch of an ICO.
So basically people are getting certain tokens and coins for helping the blockchain by holding or spreading the words through social media about the coins.
Requirements:
The ICOs distribute the tokens and coins or airdrop to the users who are loyal to their project and help them publicise about their project. So the users receive free tokens for liking their facebook page, following them on twitter or writing a review on them etc. So you will need to have Facebook, Twitter, Telegram and BicoinTalk accounts to get started for an airdrop.The airdrops are usually sent to your ethereum wallet or the wallet of the project's own cryptowallet. So you'll need to get a reliable wallet to receive airdrops. You can also use MyEtherWallet web wallet for your ERC20 based tokens. Don't use exchange wallet address for your airdrops as you don't ow the private key.
If an airdrop is made by an Crypto Exchange then the token may be dropped to you in the same exchange account.
What should you do to receive the airdrops?
The different airdrops are distributed with different procedures.Holding a crypto like bitcoin or Ethereum
This means the tokens are dropped for being loyal to a project. The airdrops can happen when there is fork in the cryptocurrency and the old users are sent the airdrops in their old wallet.Promotional activities
The different project even send you airdrops for helping them promote their project through social medias. You are promised to send some tokens for helping them promote their crypto project.Downloading a wallet
Some blockchain project send airdrops in the wallet address generated from the downloaded wallet for their blockchain. This is often used by proof-of-stake coins to make strong network.How Do I Know about the crypto airdrops?
You can get to know about the ongoing and upcoming crypto airdrops from the shown here.
1. Airdropalert.com
2. Airdrops.io
Safety and scams
You should be alert and cautious while hunting for free tokens so that you don't lose money and time.Never submit your private keys and passwords to anyone.
Stay alert, stay safe!
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