Airdrop: What Is a crypto Airdrop?



A​ ​crypto airdrop​ ​is​ ​when​ ​a​ ​blockchain project distribute​s free​ ​tokens or​ ​coins to​ ​the​ crypto ​community.
To ​ ​be​ ​a​ ​recipient​ ​of​ ​an​ crypto ​airdrop often​ ​the​ ​only ​ ​requirement​ ​is​ ​that​ ​you​ ​have​ ​coins from the relevant blockchain stored​ ​in​ ​your​ ​wallet. It seems that every day a company launches an Initial Coin Offering (ICO). It is much harder to stand out with how many are out there. Instead of ruthlessly promoting themselves all over the internet, the team behind the new ICO will look at the blockchain of an already established token and gather up every person who has that coin in their wallets. They will then distribute an amount of their token in proportion to the amount that you hold.

Other crypto airdrops require social media posts or you need to contact a member of the team on the Bitcointalk forum. These projects use an airdrop as a marketing campaign.
The​ ​format​ ​of​ ​these​ crypto ​giveaways​ ​is​ ​usually​ ​like​ ​this:​ ​At​ ​a​ ​pre-announced​ ​time​ ​the​ ​project​ ​behind the​ ​event​ ​will​ ​take​ ​a​ ​”snapshot” ​of​ ​the ​ ​blockchain,​ ​and​ ​anyone​ ​holding​ ​Ether or Bitcoin​ ​at​ ​that ​ ​point​ ​will​ ​receive​ ​a certain number​ ​of​ ​free​ ​tokens.​ ​This can also be done on other blockchains, but Ethereum and Bitcoin are the most used for this airdrop format.
Another possible way to get free crypto is a faucet. This means you get a small amount of free crypto for a longer period of time.

 A fork of an existing coin can also grant you an equal amount of the new coin, a recent example is when BitCoin Cash was created and all holders of Bitcoin received the same amount in Bitcoin cash

Comments

Post a Comment

Popular posts from this blog

How to Check Your Ethereum Wallet Balance and Transactions or view Tokens on your wallet with Etherscan

Image
Etherscan There are many ways to check the balance of your Ethereum wallet.  This guide will go over how to check it using Etherscan, which is an Ethereum block explorer.  If you want to check your balance using MyEtherWallet (MEW), check out my other post here . Block explorers are basically interfaces that allow you to view the activity on a blockchain.  Most provide effortless ways to look up your account balances, transactions, and other pertinent information.  You do not need to create an account to use these, just plug in your wallet address and you should be good to go! Steps to Check Your Balance Go to Etherscan, link is here Type in your wallet address in the search bar located at the top right and click “GO” If you only have ETH you are done. You should see a screen like the below screenshot, which shows your ETH balance. Go to the next step to see how you view non-ETH tokens. If you have more than ETH in your account, you should
Read more

British Couple Lawyer Up as $840k Cryptocurrency Divorce Heats Up

Image
Divorce is never fun and rarely simple, but when one party – generally the male – owns cryptocurrency, there’s an added layer of complexity. With cryptocurrency still relatively new as an asset class, there have been very few cases to date in which the unhappy couple have squabbled over altcoins. A British law firm professes to be handling three such cases at present, with the largest involving a tug-of-war over crypto valued at $840,000. Kissing Goodbye to the Ball and #Blockchain It was only a matter of time until a high profile, high value crypto divorce grabbed the headlines. In the event, it was Britain that claimed the dubious honor of hosting the world’s largest cryptocurrency untethering to date. “#Crypto cash divorce nightmare looming” reads the cheery press release published by UK law firm Royds Withy King, on Valentine’s Day no less. Bolstering the stereotype about opportunistic lawyers, it reads: Royds Withy King is acting on three separate high value divorce cases whe
Read more

Crypto Coins: Where can I sell my airdropped crypto?

Image
So now you have free crypto, what do you do? Many coins that do airdrops are PRE-ICO or just finished their ICO. This often means it is not traded yet on the bigger exchanges. You can check out our exchange sites or most trading sites on the internet to see where you can best sell your crypto airdrops  click here I suggest you make an account on any encountered exchanges so you can easily sell and receive your crypto airdrops. I hope you receive as many airdrops as possible and that they increase in value over time. Many projects that are now top 40 coins have done airdrops in their early stages, like NEM, DECRED & Ripple. You don't need to immediatly sell your free crypto, there is nothing wrong with being a HODLer.
Read more