Crypto distribution has been a hot topic ever since Bitcoin, the first cryptocurrency, was created.
The acceptance of this technology is spreading, and crypto airdrop is the most common method that crypto projects utilize to distribute cryptocurrencies to crypto users.
This has been an amazing experience in the crypto space for crypto enthusiasts because they get to earn free money with crypto.
Hence, every crypto enthusiast wants to earn some free cryptocurrency, but most of them don’t know where to look.
This article will cover everything you need to know about the crypto airdrop, including how they work and how to get crypto airdrops.
What Is A Crypto Airdrop?
Crypto Airdrops are a way to spread cryptocurrency to the public. They are similar to ICOs in that they give away coins for free and then sell them at a higher price. The difference is that with an airdrop, you don’t have to buy any coins at all.
The concept of airdrops has been around for years, but it’s only recently that it has gotten more popular. Airdrops can be very effective in spreading awareness about new crypto project. They also help build community and trust between developers and users of their cryptocurrency project.
Airdrops are usually issued by projects who want to give something back to their users/supporters – often in exchange for social media shares or support on Telegram channels or other forums where people discuss their project. These are known as “airdrops” because they are distributed from the air above the ground (hence the name).
If you have ever used Bitcoin then you have probably heard about Bitcoin Cash (BCH). BCH was created as a fork of Bitcoin — to improve scalability and TPs.
Then, Bitcoin Cash (BCH) was distributed to Bitcoin holders based on the snapshot period. This is one of the ways — that crypto airdrop is always done, though, there are other types of airdrop (you will discover them as you continue reading this article).
Types Of Crypto Airdrops
As I mentioned earlier, a crypto airdrop is a way of distributing tokens to crypto enthusiasts when they meet some requirements laid out by the crypto project.
Meanwhile, there are different types of crypto airdrop methods utilized by the crypto project. They are:
A Crypto bounty program is a rewarding system that helps in increasing the brand awareness and promotion of a crypto project.
It is a perfect method utilized by crypto projects to reward crypto enthusiasts for sharing news, reviews, and other content about their projects. This include:
- Social media sharing
- Blogging/reviews/referral programs
- Steemit, Reddit, or other social networks posting
- Signature campaign
There are also platforms dedicated to the “Bounty Program” — where the bounty hunters and crypto enthusiasts can earn tokens and rewards for their contribution to the crypto world.
The platform provides a platform for bounty hunters to work together with crypto projects and organizations.
The Bounty Program is all about rewarding users who help promote cryptocurrency projects by spreading awareness about them.
Initial Launch/ICO Airdrop
The Initial launch crypto airdrop is an event that is usually held by a new project. It allows the community to earn free crypto tokens for participating in the airdrop.
The best part about this is that you don’t have to do anything except register or follow the instructions given by the project and wait for your token to be released.
There are many different ways to participate in an initial launch airdrop. The instructions could be that participants must join Telegram groups, Twitter accounts, Facebook pages, websites, and more.
You can also participate by sharing your referral link on social media platforms such as Twitter and Facebook — to earn more of the airdrop token.
Retroactive airdrop is an innovative and fairer way of distributing free tokens to crypto users. Unlike other airdrop methods like the Bounty program and ICO airdrop, retroactive airdrop can only be claimed by those that have been previously supporting the crypto project at a particular point in time.
Retroactive airdrop is a crypto airdrop method utilized by a crypto project to send a free token to the crypto user that had been using their product or holding a particular crypto token.
Also read: Rugpull Explained: How To Spot And Avoid Crypto Rugpull
How To Get Crypto Airdrops
An airdrop is a special type of giveaway where a cryptocurrency project or token creator will send tokens to selected individuals. Crypto airdrops can be gotten in several ways, including by Bounty, retroactive, etc, that was mentioned earlier.
If you have wanted to know how to get crypto airdrops, here are some of the best ways to receive crypto airdrops:
- Create an account with a reputable platform that offers bounty programs. These platforms share an active crypto project that’s offering their token for tasks done.
- For the retroactive airdrop aspect, it’s usually speculation, whereby it’s not always disclosed by the project that they would eventually give out their token as an airdrop. The best way to get this type of airdrop is to interact with the DeFi protocol that’s yet to launch its utility token.
Read: Crypto Scams: How To Identify And Avoid Crypto Scams
Airdrops are a fun and easy way to get free cryptocurrency, but there are plenty of scammers out there waiting to take your money in an unknown dubious way.
Hence, it’s important to do your due diligence before participating in any crypto airdrop.