What is Airdrop in Crypto Explained?
In simple words airdrop in crypto market is basically a marketing and promotional strategy to make aware of new crypto project coming before releasing the new crypto in market for public use, in which free crypto tokens are randomly distributed to their existing users or specific crypto community or by rewarding them free tokens by participating in various surveys.
There are basically two types of crypto airdrops.
- Reward Airdrops &
- Free Airdrops
Reward Airdrops: – Reward Tokens strategy acts as you should complete some tasks or surveys of that crypto project if you want Reward tokens, task is not that much hard in majority of the cases they just ask you to just follow them in all their social handles and nothing else.
Free Airdrops: – Free Airdrops don’t require any kind of tasks and surveys they just randomly distribute free tokens based on user’s crypto holdings which they will inform in their websites and tweets that what kind of holdings you should have on your crypto holdings.
Therefore, airdrops act as a complimentary buck to be added on your crypto portfolio, but there are many scams running in market in the name of airdrops you just have to be aware about that scams and just check and go through that particular project’s websites and social handles to make sure that the airdrops are real or it’s a scam.
Benefits of participating in airdrops are also many such as: –
- First benefit is that obviously you will get fee tokens of that project of some or maybe a very good amount of tokens who knows…
- second you will get to know about new crypto in market and their projects and benefits of that crypto if we hold them in long run and directly or indirectly you will be supporting that new crypto project which will motivate developers also.
And Some Disadvantages in participating in airdrops are also many such as: –
- As said in above article it has risk of having scam if you by mistake participate in scam airdrop so just cross check carefully before participating.
- Risk of being hacked if you just enter your personal crypto details in any random website before any research done by you so be careful before providing any personal details to any sites in greed of airdrop.
- Just be calm and careful and don’t click any kind of spam link you get on mail or any third-party websites.
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