A cryptocurrency airdrop is not something you hear about quite often, and even when one does, the opportunity gets ignored, because you think it is a scam. But this is not always true.
A cryptocurrency airdrop is a free distribution of tokens by a blockchain project. Airdrops are most often conducted by unknown startups, who would like to promote themselves: attract investors, potential clients, or tell the crypto community about their project. The ultimate goal of an airdrop is to advertise the project.
Where can you learn about a cryptocurrency airdrop? Startups announce launching airdrops on well-known cryptocurrency platforms, such as BitcoinTalk, Airdropalert, through social media and similar channels.
There are two types of airdrops:
- Coins are distributed for free among all holders of a certain cryptocurrency. Such airdrops are sometimes called automated airdrops, as coins are automatically credited to holders’ accounts.
Hard fork developers frequently hold such airdrops. The goal of a hard fork is often to improve the parent cryptocurrency, as a result, owners of the parent cryptocurrency become the main target audience of the developers - if a person uses a coin, they are supposed to be interested in the improved variant of the coin. One of the most well-known examples of this type of airdrop is when Bitcoin Cash gave Bitcoin holders an equivalent amount of Bitcoin Cash.
- Tokens are distributed among users who have made a considerable contribution to the project. Coins are given in return for reposting information about the project on Facebook and Twitter. Sometimes it is necessary to join a community or register on a certain platform to get a token.
Airdrops feature much simpler requirements compared to bounty campaigns. You do not have to possess any programming or design skills or necessarily be the owner of a channel with a large number of subscribers. In addition, if you participate in an airdrop campaign, it will generally take you considerably less time to receive coins on your account compared to bounty campaigns. Besides, if a project eventually succeeds, you will receive profit.
That said, airdrops offer a considerably smaller remuneration than bounty campaigns. But this does not mean you are banned from participation in several campaigns at once.
So participating in an airdrop is not a bad idea if you do not ignore security measures, such as googling all information regarding the project and keeping your private data, such as private keys and passwords, confidential. Remember, it is often a mousetrap where you can find free cheese.