Everything you need to know about airdrops in the crypto space

Everything you need to know about airdrops in the crypto space

In the cooperate world, there is nothing as “free money”. Whenever pull such a stand, there is always something attached to it. Even if you might not be able to see it at the moment, it will eventually materialize and take you hostage. However, in the cryptocurrency world, free-money is quite common, and there is nothing more attached to the airdrop.

For you to be eligible for an airdrop, however, there are certain requirements that you must meet prior to the token or coins distribution to your wallet. Therefore, the airdrop is basically an award that you get by the mere fact that you are using cryptocurrency. Some of these requirements include:

Hold certain token or coins

Among other mechanisms of airdropping, some projects will airdrop tokens or coins to users if they are sure that they already have certain coins. They will, therefore, conduct their investigation and verify that the user is legible for airdropping. For instance, recently, OmiseGo airdropped OMG tokens to users who had at least 01 ETH in their wallets.

This is an indication that the free-coins will only come to the people who promote the brand. Therefore, if you don’t use certain tokens, you should not be there waiting to receive or profit from their airdropping process.

Signing up to their platform

Treating new customers with courtesy is a basic need for every business. The way you treat first time customers will tell whether they will come back to your store or not. When it comes to the crypto space, the same expectations are quite in order. Different currencies use airdropping is a way of welcoming new subscribers on board. When you signup, the currency gives you a few tokens as a way of getting you started. The tokens also serve as a way of expressing their gratitude due to your signup.

Subscribing to newsletter

Subscription to newsletter and the currency platform might look similar, but they are slightly different. However, you can be eligible for free token/coins from the moment you choose to subscribe to the newsletter.

Share on social media

Today almost everyone uses social media platforms in one way or the other. in the crypto space, using these platforms could bring you the break you need to sow higher in the business. Sharing or posting on social media something about your crypto indicates that you are marketing for it. Therefore, when such posts meet the eyes of the team, you might be the lucky airdrop winner of the day. You can also get some by joining the telegram channel and other platforms too.

However, the above requirements are not the only limitations that give you access to airdrops. There are other forms that are likely to bring you the good news. It is, therefore, essential for you to stay vigilant and maintain your use of cryptocurrency. There might be a possibility that you are almost becoming lucky to get the reward in your wallet.

Planned airdrops

Whenever you here of a planned airdrop, it means the airdrop will occur at a particular date and time, and it is announced beforehand. With such airdrops, there are certain things expected of you as the user to qualify. For instance, it could be announced that a user whose certain amount of tokens within a particular period will win a certain amount of tokens, etc. therefore, users will start to engage more to participate in the challenge.

Surprise airdrops

This type of airdrop is not announced in advance, and a snapshot of the blockchain is taken. Then the project launches a hold certain coin airdrop with the aim of using the collected snapshot. The surprise airdrop mostly focuses on profiting users who the currency find eligible. However, for purposes of formalities and ensuring inclusivity for all users, they keep it formal by announcing the dates.

With all the information above on free-coins, it is obvious that the project also stands to profit. Come to think of it, why would currencies give tokens away instead of selling them for a profit? There must be a hidden profit that airdrop will bring the currency over rewarding its users.

Helps aid decentralization

Creating a higher level of security for both a network and its users is a top priority in the crypto space. By introducing hundreds of account holders to the PoS validators, possibility makes the network stronger. By distributing a sizable chunk of tokens through airdrop to Ethereum users, currencies create an opportunity to expand their market.

Increase marketing efforts

During Initial Coin Offering (ICOs), companies work as hard to ensure that they get a better share of investors. An easy way to do this, especially for new brands, is to give out tokens to random investors. This will encourage more users to invest hence increase the investment rate significantly. Additionally, airdrops have higher chances of breaking through the market compared to traditional advertisements. Therefore, using this marketing strategy give the company assurance of more profit returns within a short period.

Increases customer trust

For users to trust a particular company to manage their investment, it takes more than being a bigger brand. Investors want to be sure that your company is worth their investment and will grow them to another level within a particular season. With airdrops, users get to know how various currency tokens operate from time to time. When you get the tokens for free, and you can trace their progress, it encourages you to consider buying more to build your profit margins. In return, your trust in that particular currency will improve, and you will not have trouble investing much more.

Verdict

Airdrops are found everywhere within the crypto space. However, it is essential for you to make appropriate decisions when it comes to crypto airdrops to avoid partnering with the wrong team. Additionally, whenever you are unsure of a particular airdrop procedure, seek inquiry from the blockchains website to avoid getting in the mix up of a failing brand.