These days, new coins are constantly coming on the market in large numbers. Therefore, it’s very hard to keep track of them. Of course, new coins are interesting as a new investment object, but you can receive a few tokens for free. And a free award of tokens is known as an airdrop. So let’s get to know about airdrop crypto. How we can receive free coin?
What is airdrop?
Airdrops are a marketing strategy being followed by blockchain-based services. To understand it clearly through an example; imagine if a new cryptocurrency exchange like Binance or WazirX is going to open up soon. In order to gain maximum eyeballs within the cryptocurrency world; the platform launches its own virtual currency, like WazirX has WazirX Token or Binance has Binance Coin.
The platform then makes an announcement through its various online channels that it will give away X amount of that currency for free to some early users. In return, it might ask the users to register with the platform; or share its updates on their social media accounts, or perform other such tasks in order to enroll.
Those who complete these tasks then become the participants of the airdrop. Once the date of the airdrop arrives; the platform transfers the promised amount of its own virtual currency to some lucky winners. Note that each platform may have different requirements for participation; and that even completing all the listed tasks will not guarantee you an airdrop in most cases. This is simply because the number of participants is too huge, with people actively participating in such deals.
Alt: What is Airdrop?
How Do Airdrops Work?
New blockchain-based businesses promote airdrops by offering free coins for their virtual currency on their website. The corporation then transfers the coin or tokens to established cryptocurrency wallet holders after raising awareness.
“Crypto Airdrops can sometimes be used as a ruse for illegal activity. As a result, users must exercise caution. Because they’re designed to be promotional tools, you’ll want to be on the lookout if a project is looking for funding, ” says Manish Kumar, co-founder of two blockchain-based financial markets platforms GREX and RealX.
To stand out in the crowded crypto market, Airdrops assist crypto start-ups. The life cycle of a virtual coin depends on how many people are trading and holding it. So, Airdrops assist get things started by distributing currencies or tokens to a small number of people in order to build an initial user base without forcing them to spend money on something they may not be aware of.
To avoid such scams; crypto experts have advised doing research and due diligence on the company that is having an airdrop. “Before participating in an airdrop, you should verify forums and official websites to ensure that it is legitimate,” said Kumar.
How to find information about Airdrop strategy to get free coin
Information about Airdrop strategy is everywhere and is updated extremely quickly. Wherever the electronic market is seen as a topic of discussion, the Airdrop will certainly be present. However, not all information sources are completely accurate, maybe for their own interests, the information has been slightly modified. Therefore, Traders should be careful and selective about information so as not to waste search efforts and avoid damage.
Besides the required accounts to participate in the Airdrop, finding information and accessing the “delicious” Airdrop bets is a matter of interest to users. Currently, websites that are set up to provide Airdrop information are also ideal places for you to quickly access many news sources. You can refer to some websites such as: Airdrop Addict, Airdropalert, Airdropaddict, ICOdrops, Coinairdrops,…
Alt: A website to get information about Airdrop
Ways to receive Airdrop Coin
Airdrop in the virtual currency world is “money falls from the sky”, your task is to bring out your wallet and collect the money at the right time.
Each project will allow you to receive Tokens from different Airdrops. To own valuable Coins, users can participate in a number of activities: testnet, bounty, user referrals, social tasks such as posting on social networks, like, comment, share announcements of the company. project to attract more users to subscribe to the project.
When the project’s spread is stronger, the more people sign up, the higher the value of the Coin you own will increase.
Alt: Money falls from the sky
Ways to receive and withdraw Coin/Token from Airdrop in Coin
After participating in the Airdrop project, you need to wait about 1-2 months to receive your Token. Time to receive Coin/Token will take place at some times as follows:
- The main sale ends before the sale
- After the Token is on the floor
- It is advisable to open the Token sale in parts to help limit the sell-off and devaluation.
Honestly, the time usually depends on each project and how the Token is issued. Therefore, you should regularly check your Email to update whether your Token has been received or not?
So that is the way you can get Free coin from Airdrop.