Airdropping is a way to give tokens to people who own certain cryptocurrencies, like Bitcoin or Ethereum. More and more people are using this strategy these days. Since August 2017, the number of airdrops has grown a lot, and they are now seen as the new craze in the cryptocurrency world. Every day, about five new airdrops show up on different websites, and the number is growing.

Airdropping promotes a product, coin, or cryptocurrency exchange. Airdrops are like free product samples in stores. New projects often give away free tokens to promote themselves. Often done before ICO.

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Potential customers and investors benefit most from free marketing products. Cryptocurrency airdrops work similarly. Usually, these schemes are part of an ICO, when blockchain startups give away free tokens. Many companies have used this method to advertise their tokens.

The Purpose of Airdrops:

Cryptocurrencies only have value because people believe in them and know what they’re worth. More digital currency owners means wider acceptance and higher value.

One of the main reasons people use airdrops is because of the new rules that make it hard to promote initial coin offerings (ICOs). Companies that sell tokens can no longer advertise their projects on Facebook or Google (although FB seems to be allowing such ads again). So, an airdrop turned out to be the best way to get the word out about a product.

Here are the main reasons why ICOs give away tokens for free.

  • Popularization: sending tokens to as many wallets and people as possible to build a strong base of active users who will become real customers.As more projects seek the network effect, widespread use of tokens is crucial.
  • Raising user awareness: after a token is listed on an exchange, users are usually more likely to become interested in it.
  • Getting money: paying for future projects and developments.

Different kinds of airdrops

There are two kinds of drops from the air:

  • Traditional, when people who already own certain cryptocurrencies, like Bitcoin or Ethereum, get free tokens. Users get rewards just for keeping coins or using them. They don’t have to say anything.
  • Bounty airdrops give users tokens for doing simple things on social networks, like subscribing to Telegram, reposting on Twitter, etc.

How to Get Involved With An Airdrop:

Users will need the following tools to take part in traditional airdrops and bounty airdrops:

A wallet for Ethereum, but not one that is built into an exchange. Most airdrops give out tokens based on Ethereum, so this wallet should work with ERC20 and have a personal address. If you don’t turn on your wallet, you won’t be able to get free tokens.

Crypto users communicate via Telegram. Airdrop participants must join a Telegram channel. Don’t unsubscribe or delete your account or you’ll lose everything.

account on Twitter. Many airdrops want people to use this social network to keep up with what’s going on with the project. Some projects need people to retweet.

Email. Sometimes, you need an email address to get an airdrop.

Referral code. Sometimes, if you want to take part in an airdrop, you have to sign up through a referral link. Most of the time, it is enough to enter the participant’s name and email address.

Where Can I Look for Airdrops?

On the Internet, there are a number of important places to learn about airdrops:

Bitcointalk is one of the oldest and biggest forums for talking about cryptocurrencies. There, it is easy to keep track of new projects and airdrops.

Airdrop aggregators are websites that look at projects to see if they are legal and if they can make money. Airdrops.io, Airdropking.io, Airdrop Alert, and the Airdrops and CryptoAirdrops subreddits are all good examples of aggregators.

Members can sign up for Earn.com by giving their wallet addresses so that they can take part in a variety of airdrops.

Under the Airdrops section of the Tokens Marketplace, you can find a list of current giveaways.

Chats with a specific topic on Slack, Telegram, or Discord.

If you search for “airdrops” or “free tokens,” you’ll find a number of sites, subreddits, and Telegram channels where you can get them.

Conclusion

It’s too soon to say where the airdrop boom will lead, but most agree ICOs need real users who want tokens.

People who want free tokens shouldn’t let their guard down. For example, they shouldn’t give out their private keys, they shouldn’t forget that there are many scammers in the crypto world, and they should always do their own research before connecting to even the most tempting airdrops.