In crypto space, Airdrops is a kind of giveaway, which is usually used as a part of the promotional strategy. In other words, Airdrops is a way to give free coins to the crypto community.
However, every airdrop comes with a specific set of rules. While some companies use Airdrops for promotions, others choose Airdrops as a strategy after receiving the good response on their ICO. Few may even choose Airdrops over ICOs. For instance, ONT gave airdrops to investors who registered at very early stages for the ICO.
How do Airdrops work?
Tokens Airdrop can be done on any blockchain. Bitcoin and Ethereum are used the most for these giveaways. In some cases, the project behind the event takes the snapshot of these blockchain at a particular block, and any user is holding Bitcoins or Ether receives a certain amount of free tokens. On the contrary, with some projects, if investors register at early stages with an ICO, they receive Airdrops. In case of Eximchain & ONT, both the projects incorporated KYC for the investors and the early adapters to give airdrops.
Sometimes companies may also decide to Airdrop coins/tokens to its coin holders on a special occasion or individual achievements.
How to get your free crypto?
- Many platforms like Komodo and Waves deliver airdrops for their holders without any prior announcement. So you should keep checking your wallet regularly for any surprise airdrops.
- Nucleus Vision gave Airdrop to all the user who registered for ICO at a very early stage. Each user who submitted KYC and the required details, got 800 NCASH
- If you are a frequent investor and hold a diverse portfolio of coins, then most likely you would receive free coins in your wallet. This strategy is gaining popularity with each passing day.
Selling the Free Airdropped Crypto
If you have free airdropped crypto in your wallet, you can even sell it. Mostly the free coins that are airdropped have finished their ICO. So, all you need to do is create an account at all the exchanges that are quite established so that you can sell the received crypto effortlessly. In addition to this, you need not sell your free coins immediately; you can even hold them for a more extended period.
The Idea Behind Airdrops
The basic idea behind Airdrops is to gain access to the early community of users who get enthusiastic about receiving free tokens and speak publicly about it. As a participant, there is no harm in getting some free coins, but you should be vigilant enough, to avoid getting scammed.
More importantly, you should not share your private keys or passwords with anyone, even if they guarantee huge returns at minimal risk. Before you start evangelizing any token that you got for free, make sure that the project is worth doing it and not just a multi-level marketing scheme.