What is Airdrop? How to get involved in Airdrop [Ultimate guide]6 min read
Since the origin of cryptocurrency, airdrop has become one of the major advertising means that exchange companies used to promote their coins regardless of their value.
Today there are a lot of companies that focus on advertising other company’s products through bloggers or website owners of which they pay those publishers in return.
Because of the popularity of the internet, almost every company wants to have an online presence regardless of the product that those companies sell.
Moreover, almost every good we see today can be sold online – because some eCommerce platforms have added home delivery; this means that regardless of the product you order on their website, it will be delivered to you at your comfort place.
Research shows that there are over 4 billion active internet users worldwide, of which over 92% of this population accessed the internet with their mobile devices; moreover, this covers about 60% of the total population of the world.
The internet is widely used to promote new cryptocurrencies and this method of promotion is called “Airdrop” or “Airdropping”.
We will discuss in detail what is airdrop, types of the airdrop, how to get free coins using airdrop, how to participate in the airdrop, etc.
What is Airdrop?
Airdrop in a layman’s definition is the method of sharing or giving away cryptocurrency to a lot of people to have so many active users that are participating in the new coin that just emerged.
People that participate in airdrop don’t need to pay before they can get coins; all they need is to complete some simple task that will be given to them by the new exchange company.
Airdrop has become the major way that new cryptocurrency exchange companies use to promote their coins to ensure that a lot of people are using it.
While admiring to get involved in airdrop so that you can get free coins, certain tasks will be given to you of which the most popular of them are joining Telegram groups, sharing the cryptocurrency product link on social media, etc.
What are the Major Reasons for Airdrop?
Do you know that almost all the new cryptocurrency exchange companies get involved in the airdrop? Over time, they noticed that airdrop has become a fast way to promote and circulate their coin.
Moreover, every new cryptocurrency exchange company intends to make a huge profit in the nearest future, and promoting it via airdrop makes this possible.
Below are the major reasons why a lot of cryptocurrency exchange company gets involved in airdropping:
#1. To create awareness
According to Statista, there are over 5,000 cryptocurrency coins available in the crypto space; but some of these coins have not gained users that are actively participating in the coin usage.
Considering the competition that is involved in the coin market, new cryptocurrency tends to give their promoters free coins through airdrop; this is to encourage them that their coin has a future.
The free coins that users get while promoting new cryptocurrency coins encourage them to give heed to the new coin.
#2. Airdropping get people’s interest:
We all know that people like free things; so announcing that you will give them free coins when they perform the simple task will ultimately draw people’s attention towards the cryptocurrency exchange company that is giving out those free coins.
Almost all the popular cryptocurrency coins that are in the coin market today get involved in airdropping. This is one of their major promotion secrets that sounds foolish but quite powerful in the long run.
#3. To appreciate supporters:
While setting up every new business costs some cash, new cryptocurrency coins as well cost money from the hosting company to launch, promote and circulate its usage among different people in the world.
Moreover, when the company that owns this new cryptocurrency recovers their capital for launching the coin, they may in turn desire to do a giveaway through airdropping.
Even people that were not interested at the initial stage to invest in the new coin will intentionally purchase these new coins when they noticed that hundreds of thousands of people are using the coin – and this is as a result of extensive promotion through airdropping.
How to Participate in Cryptocurrency Airdrop
Before one can participate in the airdrop, there are certain things that one needs to set in order.
Furthermore, there are some necessities that you must need before you can get involved in airdropping.
Below are they but they are not limited to:
- A legitimate email address: This email should be substantial and you should approach it. To enroll for an airdrop, your telephone number probably won’t be needed, notwithstanding, you will require a substantial email address in which the organization can use to get in touch with you or check your record.
- Cryptocurrency wallet: While hustling with the expectation of complimentary coins, you want to have a wallet where those coins that you will be compensated with will be shipped off. We prescribe that you make your wallet to guarantee that the coins you are compensated with are protected. The most famous tokens to part with are the ERC-20 tokens on Ethereum. Along these lines, it very well may be a smart thought to make an ether wallet for moment airdrops.
- Active online media accounts: The majority of these airdrops request that you ought to use your web-based media handles in advancing the coins. This will be the most straightforward method for illuminating your companions about the coin. Utilizing the online media stage requires posting about this new coin in your Facebook timetable, gatherings, pages, even on a companion’s divider. Additionally using Twitter, Instagram, and other famous web-based media stages for the coin’s advancement.
Types of Airdrops – Cryptocurrency Airdrop
Although there are several types of the airdrop, we will discuss only a few that are widely implemented in airdropping today. They include:
This kind of airdrop necessitates that clients engaged with it will play out certain undertakings which include utilizing online media stage like Facebook, Twitter, Instagram, and so on records to advance and market the digital currency. Aside from this, they are additionally encouraged to use sites, gatherings, websites to advance digital money. When this activity has been finished, the client will be compensated for certain free coins or units.
This is the kind of airdrop that rewards clients with coins when they effectively register with the airdrop organization’s site and prefer their updates.
These are the kind of airdrop that is overseen and facilitated by sites and online media. At the point when you have enlisted with the site that offers this airdrop or when you start to follow their web-based media accounts, you will be viewed as a component of those that are advancing the digital currency. Thusly, they will compensate you for certain free coins.
Pros of Cryptocurrency Airdrop
1. You can utilize these airdrops to help your crypto portfolio in any event, when you don’t have the means to buy these new digital forms of money.
2. You can without much of a stretch exchange with the free coins you got from airdrop once the coin is recorded in a digital money trade
Cons of Cryptocurrency Airdrop
1. The coins you got from airdrop may not, at last, be perceived in the coin market, in this manner delivering all your work pointless
2. You may thus pay some measure of money to get all the more free coins, trusting that the coin will before long circulate the web in the coin market.