Airdrop: How to Get Crypto for Free
The launch of a new blockchain project is often accompanied by an airdrop. This is a free distribution of a new cryptocurrency among the activity participants. The goal of an airdrop is to promote the project and increase brand awareness. Read on to learn more about the aims and mechanics of airdrops, as well as what is special about the ones held on WhiteBIT.
The aims behind an airdrop
Airdrop is an opportunity for a project to make itself known and enhance loyalty among users. It became especially relevant after the introduction of restrictions on promoting ICOs. Thus, an airdrop allows you to spread the word about the project and contribute to its popularity. It can also kick-start a network effect. Due to the distribution of an asset, the number of its holders grows, so does the value of the asset itself.
The way it works
The conditions for participation in an airdrop may differ and depend on the type of airdrop:
- In the first case, free tokens are distributed among the holders of certain cryptos, e.g., BTC or ETH. This approach is often used by hard fork initiators who want to draw the target audience’s attention to a new project.
- In the second case, airdrop participants are required to perform certain actions. For example, follow a project on social networks, like and retweet a particular post, and so on.
Airdrop vs. bounty
The airdrop concept is sometimes confused with that of a bounty campaign. Both activities involve the distribution of free assets, but there is a significant difference between them. Unlike with an airdrop, participation in a bounty may require more effort and even the possession of specialized skills (programming, knowledge of foreign languages, etc.). Accordingly, the reward for participation in a bounty is usually way bigger than in an airdrop. However, the latter is easier to hold and take part in.
How to participate in WhiteBIT’s airdrops?
We often hold joint airdrops with promising projects listed on our platform. Participants usually need to sign up on the exchange and perform simple actions on social networks (to follow, like, retweet, etc.).
The advantages of our airdrops
In addition to simple conditions of participation, airdrops on WhiteBIT usually last for a week. At the same time, on other platforms, similar activities can last for a month. The rewards for participation in a WhiteBIT airdrop are sent out within 5 working days after the activity is over. Participants get immediate access to their assets and can perform any operations: make transactions and withdrawals, and so on.
How else can you easily win an asset?
Besides airdrops, we regularly conduct various activities with simple terms of participation. By joining them, you can win great prizes. For example, you may need to make your first crypto purchase on the exchange, pass KYC verification, or place your first order.
Airdrop benefits both parties. The project founders attract interest to their creation, while the activity participants can get free coins. Joining an airdrop is quite simple and does not require much effort or skill. However, the reward can turn into a profitable investment if the project holding an airdrop becomes successful.