In this article we highlighted the basics of Crypto Airdrops, its purpose and how to get one.
A recent strategy for distributing tokens developed in 2017 and is gaining rapid popularity. This strategy or procedure of distribution of tokens to their respective holders of particular cryptocurrency like Bitcoin or Ethereum is known as crypto airdrop. Primarily, it is a marketing strategy used to advertise features and other related information regarding a coin or crypto exchange. This can be easily analogized as freebies that are often handed out in shopping malls. It is estimated that everyday 5 airdrops appear on each website. As mentioned earlier, Airdrops are often used as a marketing strategy. Newly launched projects are often seen to popularize themselves by handing out small amounts of free tokens to investors. This giving free tokens to targeted customers makes the marketing campaigns more successful This process is usually done in advance of the ICO. As a part of ICO, blockchain startups transfer free tokens to the targeted clientele group.
Broadly classifying, Airdrops can be of two categories Traditional and crypto airdrops.
- Traditional Airdrops is when free tokens are handed out to the existing users of crypto currencies like Bitcoin. These users are rewarded for storing and using the tokens given to them. However, no response is expected from them.
- crypto airdrops is done when users are rewarded with free tokens in return they aid in the promotion of the tokens by reposting in social media.
But is marketing just the primary purpose of crypto airdrops? Recent restrictions on promotion of ICOs forged the way for airdrops to be widely used. Promotion through social media and Google is no longer allowed and therefore in airdrops became such a hit in promotion of new tokens. A wide range of reasons are present on why ICOs give out free tokens as a marketing strategy. Some including:
- popularization of the tokens: reaching out to as many people as possible will help in creating a strong base for active users and those users will later become real customers. This will help in networking and building a loyal customer base.
- Expanding their customer base and future projects will also help in building a strong capital base for the company.
- Improved user awareness: After a token is listed on an exchange, material interest on that specific token is actively formed.
In order to participate in Bounty and traditional Airdrops one is required to have a few tools. The first one is an Ethereum wallet that is ERC20- compliant with a personal address. It is mandatory to make sure that the wallet is active in order to receive free tokens. When enrolling, an email id and referral code is asked to register the user. For smooth and active communication, a Telegram account is also a must.
Often, one is required to subscribe to the new project’s Telegram account to receive free tokens. Deletion and/or unsubscribing the Telegram account is highly discouraged as this might lead one to be disqualified or debarred from receiving free tokens. The next tool might be directly related to crypto airdrops. This includes a Twitter account where a user is expected to repost the project.
Where can you find Airdrops? One can find sources all over the Internet. Some we are providing below.
- The largest and oldest forum, Bitcointalk, is our first choice. It has an easy user interface making it extremely convenient to track new and upcoming projects, and enrolling in new airdrops.
- Airdrops.io, Airdropking.io, CryptoAirdrops are airdrop aggregators. These aggregators are resources which study projects in terms of legality and solvency.
- Specialized profiles on Discord, Telegram and Slack.
- One can also find a list of up to date giveaways under the Airdrop category on Tokens Marketplace.
- Earn.com is one of the specialized platforms that allow its members to register with the help of their wallet address. They then use this information to participate in multiple airdrops.
