A cryptocurrency airdrop is when a blockchain gives away free tokens to owners of a major cryptocurrency.
There are two types of cryptocurrency airdrops:
The first type of airdrop is when users own and save the cryptocurrency at an exact time. A Snapshot of the entire blockchain is performed to find out who owns the cryptocurrency and grant an amount of the new cryptocurrency based on the amount the user owns. If you are facing trouble buying cryptocurrency then you can buy digital currency in dubai online.
For example, if someone has NEO coins, they can get free Ontology tokens because they were created from the NEO blockchain. Imagine if the token rises in price over time? This is the beauty of an airdrop.
Why are these projects giving away tokens for free?
The second type of airdrop is used to replace ICOs. ICOs were used to launch blockchain projects, and campaigns were mainly carried out to attract visitors through paid advertisements from companies such as Google and Facebook.
This became so exorbitant as it was insatiable in the creation of false projects, that these main digital media prohibited their advertisers from continuing to promote this type of project. That’s why people buy digital currency in London online without getting into much trouble.
It is for this reason that magic happens with airdrops since instead of giving money to these large digital media to advertise, they decided to give money to their owners involved to spread the message
In this case, you don’t even need to own any cryptocurrency to get the tokens. You just have to complete some steps that tell you how to follow their channel on Twitter or their page on Facebook, and so they can give you the tokens at any time.
As you can see, airdrops are very useful as projects and you can take advantage of this great opportunity.
Where can you find cryptocurrency airdrops?
You have to be informed of the latest projects and news. There are some platforms that are described in this article where you can see all the previous airdrops sites, the current ones, and the ones to come.
With a quick description of each airdrop platform, you should be aware of the steps you must complete to avoid being deceived.
You should never give out your private keys or any other personal information. It is recommended to use a secondary email address so as not to track suspected hackers through your primary email.
In addition, it is important that you know that if they ask you for a number of coins to deposit to any cryptocurrency address, be careful because it is a ‘scam’ with total security.
Airdrops consist of obtaining tokens for free and it is not a platform to send money in any way anywhere.
In simple terms, if you own a type of HODL currency, you are automatically qualified to claim other currencies or tokens just by owning the main cryptocurrencies in which the cryptocurrency airdrop project takes place.
WHY IS A CRYPTOCURRENCY AIRDROP A FREE TOKEN PROJECT?
There are various reasons for running cryptocurrency airdrops that actually distribute much of the coin / token supply to their involved owners.
Some of the reasons to carry out airdrops projects are:
EVEN DISTRIBUTION OF THE TOTAL SUPPLY OF TOKENS
A suitable reason for airdrops is to evenly distribute the total supply of tokens or coins.
There was an example case with the Omise platform, for which it gave away 5% of its OmiseGO cryptocurrencies to its Ethereum owners in September 2017.
On this occasion, OmiseGO took advantage of the Ethereum economy already distributed to distribute its tokens as well.
REWARD LOYAL FIRST INVESTORS
Many cryptocurrencies want to reward their first supporters and investors who have participated and bought their ICOs or tokens with priority.
AWARENESS ABOUT THE NEW CRYPTOCURRENCY
Many times, just to spread awareness, airdrops are held for the most popular cryptocurrency HOLDers like Bitcoin, Ethereum, NEO, etc. They carry out ‘forks’ to create a new cryptocurrency from their blockchain.
MARKETING AND ‘HYPE’
This is the most common trend today. A coin or token airdrop project in order to market and gather potential customers for further expansion of business opportunities.
You will also find projects that carry out schemes such as:
- TEU is launching $ 125,000 in TEU tokens to the first 15,000 participants.
- Get up to 60 free REPU tokens just by joining Telegram!
- #ApolloDAE referral airdrop for Telegram users!
- 50 free SYN tokens when you sign up!
So this is a class of airdrops rewards to perform minor tasks like subscriptions, referrals, or join Telegram and follow them on Twitter, give them likes on Facebook, etc.
Another popular way is to fork such popular cryptocurrencies as Bitcoin, Ethereum, Litecoin, Monero and create a new currency, which will be distributed to the existing owners of these top cryptocurrencies.
Now the million-dollar question: How to find out more about airdrops? Good question, considering it’s one of the easiest ways to earn money.
HOW TO KEEP UP TO DATE WITH AIRDROPS PLATFORMS?
There are several ways to stay up to date, one of the most effective is to join an active cryptocurrency community that works in this area, such as Ethereum. Because now, you can buy digital currency in UK online without taking the risk of traveling online.
There are some services and websites through which you can get regular updates on airdrops. However, you understand the fact that not all of them are worth participating in and that there is a lot of fraud in this industry sadly. However, here are some of these more important services:
You can also find airdrops announcements on their Twitter page and on the major Bitcoin forum that will inform you of a particular project that you might be following.
HOW TO GET FREE TOKENS IN AN AIRDROP PROJECT?
Claiming your free coins/tokens in an airdrop may differ from one project to another, some will ask you to register to the main platform and join the chat group, others to follow their social networks minimally.
If they ask you to donate, send money, register your real name, disclose your private keys or seed phrase, avoid them at all costs, they are scam sites with bad intentions. This is not how airdrops projects work.
For airdrop forked currencies, you need to control your private keys or know how to sign your public address with your private keys.
To get/claim your tokens or airdrop coins you just need to do the following
- Sign up
- Make a retweet
- Refer this item to a friend
- Join Telegram
- Complete additional tasks on social media
CONCLUSIONS ABOUT THE AIRDROP PROJECT: UPDATE AND MAKE SURE
With the popularity index of cryptocurrencies increasing every day, scams around this area are also growing. That is why if you find scams about airdrops projects to earn free cryptocurrencies, do not be surprised or fall into the trap.
A fraudulent project with plans to create an airdrop platform will ask you to enter your private keys, and sometimes, it will even trick you into entering your seed words using malicious software, asking you for coins and personal data as mentioned above.
Usually, you’ll see these kinds of tactics on hacked low-profile channels, Telegram channels, or tweaked Twitter accounts that will try to enforce the original account in some way in advance of the actual project launch.