Crypto airdrop is an easy and good way to get into the crypto world without paying fees to obtain cryptocurrency. All you have to do is participate in certain task as prescribed by new crypto developers and get their tokens.
This task can be in form of sharing post on social media; and on completing this task, participants get rewarded during the initial coin offering distribution.
What is Crypto
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crypto are digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. Decentralized crypto currencies such as Bitcoin now provides opportunity for personal wealth that is beyond restriction and confiscation by Government.
What does crypto airdrop mean?
An airdrop is a distribution of a crypto currency coin or token, usually for free, and are sent to numerous wallet addresses provided by participants in the ICO bounty. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.
Read also: Lovecoin Airdrop: How to get Free Lovecoin
What is the Point of an Crypto Airdrop?
There are two main reasons blockchain start-ups and other crypto projects would hold an airdrop for the public.
First and foremost is to generate publicity for an upcoming ICO or token sale. Airdrops are often the first phase of a more extensive marketing campaign. Therefor, they can be useful in generating initial buzz around a project.
These airdrops and referral bonus will motivate people to spread the word of the new crypto project. Also, the cost of advertising is seriously reduced.
Secondly, an airdrop is an excellent way to build a community around a project, even if not holding an ICO. Several community-based and non-profit crypto projects use the airdrop model as a way of building awareness of their goals.
Are Crypto Airdrops Legit?
Well this question can get a yes depending on who is offering the airdrop. Real crypto developers can come up with good project and give out ICO bounty to participants to gain attention and new followers. However some scammer can also create project for their scamming schemes.
Conclusion
Airdrops are a fun way of getting into cryptocurrency and finding out about new blockchain projects. Participating in airdrop once in a while can also be hugely profitable.
My advice for those who already have participated and received certain airdrop is to just hold onto this airdrop. Because there are chances these token can become valuable in the future.
They can also be worth enough to sell for a decent amount of BTC or ETH during crypto bull markets.
Lastly, I would recommend taking a look at the project behind an airdrop to Know if it has any chance of succeeding. Just make sure you always read the whitepaper of the airdrop if it is legit you will be able to tell from the whitepaper.
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