Crypto airdrops are exciting and just about profitable for anyone. If you have no idea what an airdrop in the crypto-verse is. Today is your lucky day!
We are going to teach you everything you need to know about airdrops in this write-up. Also, we’ll throw in important tips to stay alert for airdrops and how to receive your free airdrops.
Let’s get to it.
Table of Contents
What are Crypto Airdrops?
‘Airdrops’ are a term used to mention when a blockchain-based company provides free coins to the public.
For example, let’s say Microsoft decided to create their crypto coin. As a one-time launch promotion, everyone that signed up for their airdrop receives 10 Microsoft coins. In short, you now own 10 units of Microsoft’s crypto stock that you can sell or hold until the value goes up.
Airdrops are a marketing strategy by new companies to promote their coin and get people interested. By giving out free airdrops, it builds the hype due to the public participation and the value of the coin may surge.
However, a good number of coins sold by companies have no purpose and end up being worthless.
Luckily, in airdrops, you don’t stand to lose much as there’s no upfront investment and it only takes a few minutes to set up an airdrop.
How are Airdrops delivered?
To receive an Airdrop, you’ll need to have an account and own a wallet in that blockchain community.
Let’s say you were to receive a Ripple airdrop, it’s necessary to have an XRP wallet to receive your virtual currency. Otherwise, you’ll be removed from the list of qualified airdrop receivers.
Airdrops usually have a date or multiple dates that are promoted on social media sites like Twitter and Facebook.
These dates are usually when the company sends its coins to the community.
What do I do after I receive an Airdrop?
Once you receive your airdrop, you can choose to sell your share or hold it for the future. Most wallets come with their markets to trade and sell the coins. Depending, on the value of the coin on the day of the airdrop, you’ll make a good profit or end up with no value.
If you decide to hold your airdrop, know that you are at the mercy of the company and its actions. If the company decides to go back on its promise, your coin value falls, and you’re left holding the junk.
However, if the company does keep its promise and manages to soar to new heights, you’ve made a good fortune.
The best part of this is that you make the treasure with zero investment. It’s no risk and ample reward.
Are ICOs similar to Airdrops?
You’re probably wondering if Initial Public Offerings are similar to Airdrops.
No, they aren’t.
While ICOs are offered to raise money and bring in investors, Airdrops are volatile and don’t have value until the future. It’s highly unlikely that the coin you receive will be worth its full potential during an airdrop.
When an airdrop occurs, many of the receivers sell their share, and hence, this causes a plunge in the market for that coin. It’s usually the ideal time to buy into the company at low prices during an airdrop.
However, in an ICO, you are given a share of the company directly and not via a crypto value.
Top 3 Sites for Free Crypto Airdrops Info
Alright, let’s get to the good stuff. But before you get your free airdrops, it’s critical to only track airdrops from legit websites.
Here are the best websites to bookmark and look out for in your quest for airdrops.
Founded in 2013, CoinMarketCap is currently a major price-tracking website in the crypto world.
It shows token names, blockchain addresses, real-time value, airdrop info, and more.
Users can choose to see what airdrops are live and sign up for them directly from CoinMarketCap.
If you wish to see airdrops that go out in the future, simply add them to your list. You’ll be informed when the airdrop goes live.
A simple website that gives you the one thing that you’re looking for – Airdrop info!
There are plenty of crypto guides for beginners to learn from on Airdrop Alert.
If you wish to receive email alerts on new airdrops, you can subscribe to their newsletter for easy access.
Of all the social media for airdrop information, Twitter is the best and most convenient way to keep track of new and upcoming airdrops.
Many Twitter handles post regular updates regarding new airdrops.
Many of the companies that host an airdrop also have their own Twitter handle to ensure you keep up with their latest news.
We hope you learned enough to start receiving your airdrops. The one word to keep in mind when dealing with airdrops is – DYOR. Which stands for ‘Do Your Own Research’.
Without research, you’re likely to end up gambling or wasting your time on worthless coins. While there are no risks attached to receiving an airdrop, you may still get scammed if you aren’t careful.
Best of luck with your crypto game!