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What Is Airdrop In Cryptocurrency? Best Way To Earn Free Crypto

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The word "airdrop" is used in the cryptocurrency and blockchain ecosystem to describe the distribution of digital assets to the general public, either as a result of holding another token or just by being an active wallet address on a specific blockchain. An airdrop is the free delivery of a cryptocurrency token or coin to several wallet addresses. Airdrops are generally used to generate attention and new followers, leading to a larger user base and more coins being distributed.

 

The airdrop is intended to raise awareness and ownership of the cryptocurrency startup.

Crypto Airdrops are a popular marketing tactic used by organizations to generate interest, distribute decentralized tokens, and foster a thriving community.

Cryptocurrency Airdrop

Cryptocurrency Airdrop

Airdrops are usually advertised on the company's website and on cryptocurrency forums, and the coins or tokens are only distributed to existing holders of crypto wallets, mainly bitcoin or ethereum wallets. Airdrops, once regarded as an outlandish kind of guerilla marketing, have surged in popularity in the crypto sector since 2017, with countless projects employing the approach to accelerate adoption, urge the community to assist promote a project, or reward loyal users.

Airdrops evolved into a tactic that went beyond marketing. Coins would announce airdrops where coin holders would receive bonus coins equal to the number of total coins they possess as a way to boost currency value. Coin investors who wanted to participate in the airdrop would need to purchase the coins if they didn't already have any or purchase more if they wanted a greater share in the airdrop.

Who can receive Crypto Airdrops?
 

Who can receive Crypto Airdrops?

To be eligible for an airdrop, users must have a certain amount of crypto currency in their wallets. Users may also be required to complete a specific activity, such as posting about the cryptocurrency on any social media forum and introducing others to the newly created cryptocurrency.

A legal crypto airdrop will exclusively focus on promoting the coin and will never ask for money. Many businesses prey on customers who transmit little amounts of bitcoins or other cryptocurrencies. To be eligible for the free gift, a recipient may need to have a certain amount of cryptocurrency in their wallet. They may also be required to complete a specific activity, such as blogging about the currency on a social media platform, connecting with a specific blockchain project member, or writing a blog post.

List of popular Crypto Airdrop in June

List of popular Crypto Airdrop in June

Here are some of the popular crypto airdrops in June.

  • DeFiChain Airdrop. Claim $30 DFI for signing up + $10 DFI for each referral.
  • Morpher Airdrop. Claim 100 MPH (~$5) for free by simply signing up to Tim Draper's 24/7 zero-fee exchange!
  • SwissBorg Airdrop.
  • ChainX Airdrop.
  • Binance Airdrop.
  • BlockFi Signup Bonus.
  • DeFiChain Airdrop.
  • Morpher Airdrop.

Popular Airdrops

The following cryptocurrencies were initially distributed for free:

• Byteball

• Stellar Lumens

• ARDR

• NEM

An airdrop can be a way for network users to make free money, especially if the token's value rises over time. Some have considered airdrops, like forks, as a form of dividend payment earned by owning a digital asset, in the sense that it is an additional premium paid out to token holders on a pro-rata basis.

Read more about: cryptocurrency airdrop
Story first published: Friday, June 4, 2021, 14:19 [IST]
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