Whether you’re new to crypto or a seasoned expert, the term ‘Airdrop’ is one that has almost certainly passed your radar. It’s likely you didn’t even know it existed until reading this very post. Fear not! We are here to change all of that with our Airdrop: The Ultimate Guide. We will be exploring:
What is an Airdrop? What is Crypto? Where to find all the latest Bitcoin news? Who can participate in an Airdrop? How Much Do Airdrops Cost? How to make a Wallet (How to participate) Is it worth participating in Airdrops? Scams and Safety Conclusion Sources.
How to Check Airdrop History
An Airdrop is a way of acquiring virtual tokens, coins or even currencies by simply being a holder of the parent coin. For example , if I want to acquire Ethereum but don’t have any and hold only Bitcoins, then all I would need to do is sign up for the Ethereum Airdrop, follow the instructions and VOILA! I have now acquired some Ethereum without spending any of my Bitcoin!
An Airdrop is the process of distributing coins/tokens/cryptocurrencies with little effort. For example, if coin A is being distributed to all individuals holding coin B then that would be considered an Airdrop.
What is an Airdrop and How Does it Work?
The first thing you need to know about an Airdrop is that it does not cost you anything to participate. Also, there are no gimmicks or forms to fill out, all you have to do is hold some coins then keep your eyes open for upcoming announcements! It’s important that you only join one Airdrop per coin so as to not have too many coins under your possession. You’ll want to diversify, but we’ll touch more on that later.
The Benefits of Joining an Airdrop
Traditionally, developers use an Airdrop as a way of gaining attention to their project (much like the flame emoji or banner ads). With so many crypto start-ups flooding the market at the moment, it’s becoming harder and harder for them to stand out in the crowd. An Airdrop is also a great incentive for people to get involved early on in a project, which can lead to huge profits for you.
How to Join an Airdrop
There are many ways to join an Airdrop, but here are the most common ones:
1) Twitter – Join telegram groups and follow crypto-twitter accounts (see our Crypto Twitter list HERE ). When the Airdrop is announced you’ll find out via these channels. You may even be lucky enough to receive some free tokens through Twitter alone.
2) Telegram – Similar to Twitter but you will need to join their Telegram Channel, which is publically available on the project’s website. Telegram channels are great because if you’re ever unsure about anything, there’s always someone there that wants to help.
3) Reddit – Some Airdrops are announced through dedicated Sub-Reddits, so be sure to keep an eye on those.
4) Bitcointalk – A few forums such as Bitcointalk and Bountyhunters will list new Airdrops every day. They will usually provide a link to the projects website or announcement page.
How to Avoid Scams When Joining an Airdrop
The number one rule is to only join 1 Airdrop per coin! This doesn’t mean you should only have 1 coin, just that at any given time, your focus should be on a single project. What this does do though, is reduce the risk of scams through separating your coins and keeping each Airdrop separate. Remember: the whole point of an Airdrop is to acquire free coins; you don’t want that dream to turn into a nightmare.
That’s it, Airdrop 101 in a nutshell. We hope you enjoyed this article and found it useful. If you think we missed something or would like to contribute in some way, feel free to drop us an email!