Why Cryptocurrency Airdrops😱

Have you ever asked your self, why projects or exchanges run crypto airdrops? Or have seen a link to an airdrop but don’t even know how to participate in that particular airdrop.

Well in this article, we shall talk briefly about crypto aidrops.

What are airdrops?
When it comes to crypto currency, we talk about it as a marketing strategy adopted by crypto startups to promote the project and their new token. It involves distributing their native cryptocurrency to current or potential users' for free. Sometimes, users have to complete simple promotional activities before they can claim, such as following the project's social media account and sharing their posts.

How do crypto airdrops work?
There are different types of crypto airdrops, but they usually consist of a small amount of cryptocurrency being distributed to several wallets (usually on Ethereum or Binance Smart Chain). Although less common, there are also projects that giveaway NFTs instead of regular crypto.

Some projects will do the distribution without asking for anything, while others will ask you to perform certain tasks before claiming. These tasks often include following social media accounts, subscribing to a newsletter, or holding a minimum amount of coins in your wallet. However, you are not always guaranteed to get the airdropped tokens.

In some cases, the airdrops are given only to wallets that interacted with the project's platform before a certain date. 1INCH and Uniswap are popular examples that used this method to support early adopters. But unlike common airdrops, those were worth thousands of dollars.

Why do crypto projects perform airdrops?
As mentioned, blockchain projects give out free tokens in an attempt to gain wider adoption and grow their network. A higher number of holders is often seen as a positive metric, which also makes the project more decentralized in terms of token ownership. Crypto airdrops also motivate recipients to use and promote the project. This can help cultivate an initial user base before the project lists on crypto exchanges.

On the other hand, airdrops might also give a false impression of growth. So, it's important to consider other factors when evaluating adoption. For example, if hundreds of thousands of addresses are holding a certain token, but no one is really using it, then the project is either a scam or simply failed to captivate the community.

Where can you find crypto airdrops?
You can actual find crypto airdrops in social medias like; Twitter, Telegram, Discord, Medium etc
Though most used social media for airdrop is the telegram social media , these airdrop are dropped by crypto influencers or advertisers with a community of up to 300,000 members. However, these individuals are paid for their services, sometimes are paid in that startup token.
They are various airdrop advertisers channels on telegram like;

Airdrop 365: https://t.me/Airdrop365Official

Latest airdrop: https://t.me/OfficialLatestAirdrop

Airdrop bsc: https://t.me/AirdropBSC_Com

Crypto library airdrop: https://t.me/CryptoLibrarysAirdrop

Alexz Airdrop: https://t.me/TraderAlexzAirdrop

etc.

How to claim an airdrop?
As mentioned, the process will vary from project to project. But the most important thing you need for claiming an airdrop is a cryptocurrency wallet.
Trustwallet is a popular and easy to use crypto wallet. After that, you can check if your wallet received free tokens. If not, you will likely have to interact with a website to claim the airdrop.

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