A cryptocurrency airdrop is a marketing game plan that keeps sending coins or tokens to wallet addresses. New virtual currency small amounts are sent to active member’s wallets, these are sent to only active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.
Airdrop aims to make everyone aware of new tokens or coins.
Key Feature of Crypto Airdrop
- An airdrop in crypto is a marketing strategy employed by startups in the cryptocurrency space.
- In this process, tokens are delivered to the wallet of active cryptocurrency users, either for free or in exchange for a small promotional service.
- The airdrop is used for awareness purposes in the cryptocurrency market.
- While most of the airdrops are legit, a few fraudsters attempt to steal coins from the wallet and personal information of active users.
- Airdrops are beneficial for those to want to hold their existing tokens or coins for future prospects.
Understanding Airdrop in Cryptocurrency
Blockchain-based startups normally start crypto airdrops so that they can boost the virtual cryptocurrency. The main motto of Airdrop is to spread awareness about the upcoming crypto projects and coins
There are four types of Airdrop in Crypto.
- Standard Airdrop – Here you need to provide your basic details and wallet address to get the free tokens.
- Holder Airdrop – Here you need to hold a few existing tokens so that you can qualify for free tokens.
- Bounty Airdrop – Here you will have to perform certain tasks or activities to get free tokens.
- Exclusive Airdrop – Here you will get free tokens if you qualify for the selection criteria. Selection criteria include influence, reputation, contribution, and expertise.
Earn Quick Money with Cryptocurrency Airdrop – One can also earn money through Airdrop. The easiest and simplest way is to sell the free token that you have received or hold the free tokens in your wallet for future appreciation.