What is a Crypto Airdrop?
Airdrop is an easiest way to gain compliment coins from a block chain’s token company. Airdrops are the free tokens or coins distributed by a project which can be based on the block chain or not. Certain companies have a requirement to claim airdrops which is for you to own coins from the relevant block chain in your wallet without expectation of any reciprocal consideration. And then you can get free tokens i.e. airdrops proportional to the coins in your wallet. You will receive those coins when the airdrop event ends. For few others you don’t need to possess any coins. You just need to have your own wallet to claim free airdrop without spending a single dime out of your pocket. These airdrops will reward you with crypto tokens for completing some simple tasks on social media platforms. These crypto airdrops benefits both, the ICO company and airdrop participants, because the company gets their ICO promoted and participants get free crypto tokens.
How can you claim airdrops?
The tasks require to be completed on social media platform itself helps to get more exposure on social media platforms and get attentions from various interested parties who may have not know of project’s existence. Crypto airdrops helps to create an online community on various platforms where they contributes to the success of the ICO project.
The airdrop claim process are different for each project, also the rules vary from one airdrop to another. There are some airdrops which will drop automatically into the wallets of members who already owns a specific coin at that moment. Some airdrop projects requires snapshot of token owned and can only be claimed by those who are token holders and show proof of the same. Such requirements can create excitement in particular token which results in price appreciation for that particular coin. You just need to complete few social media task successfully which would be mentioned for that respective project. The easiest task is to register on the company’s website. But there are many other tasks that need to be fulfilled. To give you an idea you need active social media profiles for
You need to have some number of followers; you need to retweet, etc.
You need to join certain groups on telegram, etc.
You need to repost something, etc.
You need to post proof of ownership in the forum threads
Other requirements can be:
Slack & Discord
After completing the social media related steps to reserve rewards, you will often need to fill out a form with your usernames and wallet address.
Keep checking your wallets for any surprise airdrops as some projects can deliver free airdrops without any prior announcement. Also if you have already invested in plethora of coins and possess a crypto currency profile you are likely to receive more airdrops as the airdrop trend is on the rise.
Before going into the details of airdrops let’s get your basics right.
What is an ICO?
ICO is the short form of Initial Coin Offering. It is a fundraising process where new projects offers investors some units of crypto tokens in exchange for bitcoin or ethereum. It acts as a crowdfunding source of money to new start up projects and is unregulated. It is a new phenomenon in cryptocurrecy world and became quickly popular among crypto investors in hopes of quick multiple returns against high risk.
Why do ICO Projects give away free crypto tokens/airdrops
Most of the time tokens are generally owned by following groups of people:
Who are Investors
Who are Owners (Direct or Indirect)
Who joins Presales
But now a new group of people would get added to this list that would be of
Who owns Airdrops i.e. Ordinary Users
(And how large a group it will be, will entirely be based on the number of airdrops distributed which will depend on the main project stakeholders)
Many crypto companies distribute free coins to their communities or people to create a community to increase their project’s visibility, increase the circulation of their coin supply and stimulate trade. These free distributions are known as “airdrops.”
By doing an airdrop, the project creates awareness about their ICO or token. FYI: Tokens are aimed at popularizing a new coin which is not yet on the stock exchanges, and only pre-sale of tokens is carried out. And airdrop allows you to make a token popular in a short period of time. It is a form of advertisement which basically brings to light the project to people who would otherwise have never heard about it. Airdrop is basically an attempt to create a community of people who own the respective project tokens.
Especially for a start-up, distributing bounty airdrops is a cheap way to create mass awareness about their project, token or pre-ICO.
Also it is a marketing strategy of sowing seeds in people’s minds. The process of claiming airdrops will definitely leave traces of the respective projects in your memory. And if in future you come across those names again you would be curious to know how that project is doing. This altogether leads you to the “Endowment Effect” which is the hypothesis that people ascribe more value to things merely because they own them hence increasing the ‘token price appreciation’. All because crypto currencies only hold value because people believe in them and recognize it’s worth. The more people own a crypto currency, the more likely it is to become widely adopted and rise in its value.
What is the outcome? An airdrop user will gain money while the company will be able to spread its coins and popularity.
When does a project distribute their airdrops?
Crypto Airdrops are mostly distributed during Pre-ICO or Post-ICO. Most of the cryto tokens one receives via airdrop are Pre-ICO, and such crypto tokens have not started to trade on cryptocurrency exchanges yet. You need to keep track of ICO and see project related announcements on their websites or social media platforms to check when the tokens are listed on exchanges to trade. Once a token is listed to trade, you will then be able to sell your airdrop tokens.
When will I receive the airdrop tokens?
Usually, the crypto tokens claimed at in airdrops are distributed to all the participants only after the completion of the ICO sale to private investors. It might take two weeks after ICO sale for the tokens to appear in your wallets. If it takes longer time than stated, don’t worry! Few tokens might take more time to drop in your wallet. Though, the standard distribution of the airdrop tokens takes place within 2 months after claiming the airdrops, as projects promoted at the private sale stage takes month and a half.
Where can I sell my crypto airdrop tokens?
There are many exchange platforms where you can sell as well as buy the crypto currencies. But anyways you don’t have to sell it immediately after claiming it. You can also try your luck, who knows you might become rich! There are few projects who reward their crypto token owners with free crypto airdrops to encourage them to hodl on with their tokens for longer term. This strategy by ICO projects would help to reduce the token owners interest in selling the crypto tokens. Such airdrops are called as Holder airdrops. Such holder airdrops have been successfully carried out and reaped benefits to many crypto projects. Even though, many of the crypto airdrop tokens worth is considered to be exaggerated, we highly recommend you to not sell your airdrop tokens and hold on to them as many of the airdrop projects have great future potential and their tokens might appreciate once listed on exchanges.
How do you keep your crypto currency secure?
Please abide by the following points seriously if you really want to crypto currency safe:
Always use a hardware and cold storage wallets (Why they are secure? Because they store your coins offline which protects you from hacking)
But not all crypt currencies can be stored in hardware wallets. In that case you must store it in wallets that allow you to control your private key. As an example you can use MyEtherWallet. This service can process ERC20-standard tokens – 95% of all tokens airdrop sends.
No matter who is asking never, for what and why never give your private keys to anyone or post it somewhere. Remember NEVER, NEVER, NEVER! EVER!
Always use two factor authentications on all your wallets.
Never click on links redirecting to wallets
While downloading wallets of smaller project be cautious and possibly use a virtual machine
Don’t use your primary email address for applying for airdrops
Try not to re-use your passwords when you register on a website , on airdrops or any other services as it makes all your accounts vulnerable.
Don’t send small amounts of crypto to receive your airdrop
Moreover, you must save a backup (a reserve copy) of these keys in a safe place such as your house. You may write/print it on a paper and store it
Please note: Do not make mistakes while filling the fields of your personal data else you won’t receive your claimed airdrops. So please be cautious (Also do not specify wallets on the exchange, they do not receive tokens, use personal purses only). You need to follow all the ICO instructions in order to get the airdrops.
How much money can I earn in token airdrops?
After entering the system if you spend about 5-15 minutes every day to diligently do easy tasks, then in the period of 1-2 months you will start to receive tokens almost daily. But you will need to be persistent enough to continue claiming for at least few months.
It is a simple math really. Let me walk you through. Assuming an average airdrop gives you $5 and you may have 3 airdrops per day. Hence you can earn $450 per month spending no more than 15 minutes a day. Not enough, is it? Well, you may participate in more than 3 airdrops! We are glad to bring you daily the most recent and profitable earning opportunities. So what are you waiting for get on our listings or claim your airdrops or vote for your favourite projects.
What are hard forks? And do we list them?
A hard fork is when a crypto currency splits into two separate currencies. On 1st August 2017, the first hard fork came into existence after splitting from Bitcoin, which was Bitcoin Cash. After that many cryptocurrency forking took place and this trend became quite popular in cryptos. We are not able to verify the safety or legitimacy of hard forks, so we don’t list them on TheAridrops.com as of now. Be cautious while claiming hard forks. Always try to claim hard forks with a private key of an empty wallet to be on safe side.