Why Would Companies Give You Free Crypto Tokens
As previously mentioned, the market for ICOs is incredibly saturated. Its not easy to rise above the noise and gain traction anymore. A crypto airdrop allows an organisation to gain the attention of crypto investors by giving away free coins. It costs organisations very little as their tokens are worth almost nothing at this stage.
Things To Look Out For
Unfortunately, many have been scammed or duped when it comes to the airdropping process. Here is an awesome infographic depicting some best practices to follow to safeguard yourself when participating in airdrops:
As a rule of thumb, you should never promote a project which does not seem legitimate and more importantly, never ever share your private keys. Private keys are equivalent to your PIN number for you bank account if anyone has access to your wallets private keys, they would have access to your coins. Honestly, there is no need for revealing your private keys throughout the airdropping process.
An obvious red flag is the requirement of first donating or sending a certain amount of coins before being eligible for airdropped tokens. Here is an example below:
Airdrops are supposed to be free, and a requirement to send coins in exchange for native coins is highly likely a scam. Always check out the validity of announcements and social media accounts before participating in an airdrop. It is essential to perform some due diligence before making a final decision on whether or not to participate.
Don’t Miss A Single Free Airdrop Crypto
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To Raise Publicity For A New Coin And Also For Creating A Brand
These days it is difficult for new firms to gain visibility. Gaining visibility in the blockchain platforms and cryptocurrency industries is not that easy. After all, lots of firms already have their very own cryptocurrency. With the airdrop strategy, you can gain a good amount of publicity early on in the firms life cycle with a coin valued next to zero at the moment. This is another solid reason for promoting the airdrop program.
Never Share Private Keys
You know that when creating some type of wallets, you get two different types of keys which are public and private keys. These both are really important for both purposes.
The private key is used as a backup method for your wallet. So you have to store it securely.
The public key is the address of your wallet. To receive coins/tokens, this is your address. So for the airdrops. So always double-check your wallet address before submitting it.
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How To Get Started With Cryptocurrency Airdrops
Obviously, the first task to get started with crypto airdrops is locating them. In years gone by, those looking to claim crypto airdrops would have to keep their ear to the ground within the cryptocurrency community and liaise with industry insiders. However, there are many dedicated websites for airdrops, as well as social media accounts that monitor and announce daily updates on new airdrops. Telegram and Twitter appear to be the best places to find out about new airdrops. Telegram is a chat application akin to WhatsApp, while Twitter needs no introduction but is hugely effective at aggregating sources within the crypto industry.
What Is A Crypto Airdrop
In a crypto airdrop, a new crypto project gives cryptocurrency to new users for free, or in exchange for a simple task like sharing a social media post. This practice became popular during the initial coin offering craze of 2017 and 2018. Many crypto projects used airdrops to promote their ICOs and spark enthusiasm about their new digital asset.
In addition to regular coins, governance tokens are also sometimes airdropped, giving early adopters a larger say in how a project will develop going forward.
For users, the appeal is simple: Crypto airdrops allow people to obtain tokens without having to buy cryptocurrency. And for the companies, the benefit is clear: People who otherwise would never have known about the project could wind up becoming investors, or at the very least, provide free advertising for the company.
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How To Become An Airdrop Hunter
An airdrop hunter is always on the lookout for free airdrop listing. Some companies announce their airdrops on their official website or through their social media channels.
There are a number of dedicated telegram groups that also keep a track of the upcoming ICOs or IEOs and their airdrop tokens. Many online dedicated websites also keep a track of all the past, active, and upcoming airdrops. These websites also enlist details of the upcoming airdrop such as requirements, new giveaways, days left, etc.
Other Free Crypto Tools To Use
Of course, airdrops and crypto faucets are not the only way to get free crypto. For example, you can simply hold certain coins like ONT and NEO to claim free native gas tokens such as ONG and GAS at certain intervals.
Then again, if you are going to invest your hard-earned money into crypto, these tools can greatly help to improve or even double the value of your initial investment, risk-free .
Remember, once the value of an initial investment has doubled, you can essentially sell 50% and keep the remaining 50% as a risk-free âfreeroll,â to use poker parlance.
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What Is A Cryptocurrency Airdrop
An airdrop crypto is a promotional event during which free tokens or coins are distributed to cryptocurrency wallets. Teams use this event to promote their project to crypto enthusiasts. And, in exchange for their assets, projects gain attention, new followers on social media, and a potential user base.
For more details on how it works and to learn about the different types of airdrops, read this article.
Generating Buzz In The Online Crypto Market
Another good reason for launching the airdrop program is generating buzz. An essential purpose for a cryptocurrency firm to perform an airdrop program is to collect leads. Generating leads is the primary objective of every companys growth. Those airdrops nearly invariably come with a catch. A company can expand itself through various methods. Registrations, recommendations, Whatsapp participation, and following on Twitter are few examples.
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How To Get Free Crypto Coins Through Airdrop And Are They Worth It
Sometimes having more does not always mean that one has a significant amount. It is possible to own millions and millions of coins, but this still would not equate to a dollar. This means one might have millions of coins, but when they try to convert it to USD, this could only be worth cents.
Dusting And Phishing Attacks
Scammers have targeted airdrops as another way of performing dusting and phishing attacks. These types of scams require people to register with an email address and provide sensitive information for a small amount of tokens. This information is then used to reveal the user of a particular address to extort them. The best way to avoid these scams is to have a separate wallet just for airdrops and to never share personal information when using your crypto wallet.
We hope that this guide will help you on your journey to buying, owning, and trading cryptocurrencies. To start trading cryptocurrency CFDs with Axi today, .
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Are Crypto Airdrops Similar To Initial Coin Offerings
An initial coin offering isnt the same as a crypto airdrop, since the former is, in fact, crowdfunding for upcoming crypto.
In an initial coin offering, the developers launch a white paper of the project that explains how it will work and the number of tokens that will be mined. Then, they give investors a reduced price for tokens if they purchase them earlier on in the campaign.
On the other hand, in crypto airdrops, developers actually give away free tokens to raise awareness about their projects.
How To Add Tokens To Myetherwalletcom Wallet From A Cryptocurrency Airdrop
After checking if youve received tokens from the cryptocurrency airdrop, the next question is how to add the tokens to your ETH address. This section will go further from the last step mentioned in the previous section.
Step 1. Click on the token on ethplorer.io .On this page, youll find the contract address, symbol & decimals.
Step 2. Open in a new tab the MyEtherWallet website , and click on view wallet. Afterwards, access your wallet.
Step 3. Click on Add Custom Token and fill in your Token Contract Address, Token Symbol & Decimals from Step 1.
Step 4. Click on the Save button. The token is now added to your wallet.
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What Are Crypto Airdrops
Cryptocurrency airdrops or crypto airdrops is when a blockchain company is giving away their tokens or coins for free. Now you can ask a question what is the difference between a token and a coin? And why they are giving them for free? When cryptocurrency is built on another blockchain, like Ethereum, NEO, or Stellar via smart contracts we have a token. They are giving them free usually because they have a new project and token airdrops are a great way to promote it and getting exposure. Airdrops are a great way to increase social network awareness of the blockchain project.
On our website, you can find plenty of new crypto airdrops. Our list is regularly updated.
Nft Airdrops Are The New Exciting Feature In The Crypto Market For Enthusiasts
Airdrops have a meaningful history, especially in the global cryptocurrency and blockchain domain. An airdrop in the cryptocurrency business is a type of marketing stunt which involves sending coins or tokens to wallet addresses to promote or create awareness of a new virtual currency. Over the years, Defi airdrops have evolved and it also gave birth to NFT airdrops, by further diversifying the domain manifolds. Since NFTs are being increasingly adopted by investors, let us take a look at some of the biggest NFT airdrops of 2021.
Rarible: Rarible is a creator-centric market for buying and selling NFTs. Investors can use its native token RARI to perform transactions. It is distinguished as the first-ever governance token in the crypto marketplace, and it facilitates proposal and voting rights to its holders. Rarible is also conducting one of the biggest NFT airdrops in the crypto domain with a weekly airdrop of 75,000 tokens.
Lotto: It is an ethereum-based digital lottery platform, conducting inflexible weekly lotteries. Five Lotto tokens are set aside for every participating wallet, which is pooled together and assigned to a random winner every week. Currently, they are airdropping up to 2000 LOTTO tokens per week.
Polkamon: It is a platform that brings rare, unique, and digitally animated collectibles. Each collection is authentic and differs in rarity. The Polkamon NFT collection can be easily integrated into modern games, art, and other blockchain-connected products.
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What Is The Difference Between An Ico And An Airdrop
Initial coin offerings are a method of raising capital for new crypto projects. It involves paying a sum in cryptocurrencies or fiat currency to receive a portion of the project’s tokens. Some of the successful ICOs of all time were EOS, Tezos, and Filecoin.
Airdrops, on the other hand, do not require people to pay money to receive tokens because they are free and primarily used to drive brand awareness or to reward users. Some ICOs even use airdrops to promote awareness before launching.
In essence, the major difference between both is that you pay money for receiving tokens in an ICO, while for an airdrop, you pay nothing. Airdrops that require payment of any form are almost certainly scams.
What Are Hard Forks
A hard fork is when a cryptocurrency splits into two separate currencies. The first hard fork was Bitcoin Cash which was split from Bitcoin at block #478,558 on August 1st, 2017. Bitcoin forks and the forking of other chains became popular since then. We list hard forks for mostly informative purposes, but also because we see them as dividends and similar to an airdrop. We are not able to verify the safety or legitimacy of hard forks, so always be cautious and make sure to claim forks with the private key of an empty wallet.
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Are Crypto Airdrops Worth It
Airdrops are great for both companies that are trying to promote new virtual currency and for recipients, as long as they know how to use them correctly.
For companies, sending out airdrops is a great marketing method. It doesnt cost as much as advertising and can still be enough to spread the word about your enterprise and generate a buzz about your new virtual currency.
There are risks involved. You can give out too many tokens and plummet their value or too few and fail to improve the token spread and adoption. With the right amount, however, this marketing stunt can do wonders for your enterprise.
For most recipients, getting free tokens, especially if you dont have much in your wallet, is a great feeling. In most cases, youll have to do a small task in exchange and the cryptocurrency token might be worth very little. But, there are some examples of real airdrop gems.
Airdrops can be a great source of income if you know how to recognize the right ones. Its crucial to research the projects in question and assess how promising they are in the long run.
How Do I Get Airdrops From Crypto
The easiest way to find crypto airdrops might be to simply search for crypto airdrops or what is a crypto airdrop.
Since these events are designed for marketing and project promotion, they tend to make themselves relatively easy to find. There are even some websites exclusively devoted to listing upcoming airdrops, like Coin Airdrops.
However, scams abound in the cryptocurrency world, and users would do well to safeguard their information wherever possible. When searching for airdrops, its possible to encounter someone claiming to offer an airdrop when theyre actually just engaging in a phishing attempt .
If an alleged airdrop were to ask for something like your login credentials to a website or bank account, the private keys to a cryptocurrency wallet, or any other personal details, it might be a scam. Requests to download special software or clicking links found in emails could also be phishing attempts designed to expose your device to malware or steal sensitive information.
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How To Check If Youve Received Tokens From A Cryptocurrency Airdrop
Before adding a token, it is good to know if youve received tokens from an airdrop. Most of the times it takes one to two months before you receive from the airdrops. The reason for this is that after the free cryptocurrency airdrops, the token has an ICO, which may take weeks.
Step 1. Determine the ETH address you used for the airdrop
Step 2. Go to /
Step 3. Fill in your ETH address in the field Enter tx / address / token name and click on the submit button next to it Ethplore & youll see on the right side Token Balances. If you see a token there, it means that youve received tokens from the airdrop.
Extra: you could also simply bookmark this URL
Note: When participating in an airdrop, you dont have to follow the Telegram groups to know if youve received anything. Instead, you could also just check your Token Balances from time to time. On the same page, you could also see the date of when youve received the tokens from the cryptocurrency airdrop. In some cases, however, it can be a requirement to remain in the Telegram group of the token .
Staking Crypto In 2021
If you are interested in crypto deals and altcoin rewards, you might want to look into network staking. You can stake even small amounts of altcoins via crypto exchanges and staking pools – no need for large upfront investment. Staking is less risky than providing DeFi liquidity because there is no impermanent loss in network staking.
- Staking Guide 2021: How to stake from wallets, how to stake via crypto exchanges, how to get staking yield through staking pools.
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Why Do Crypto Airdrops Happen
Cryptocurrency airdrops distribute free cryptocurrencies or tokens in exchange for minimal effort on the part of the recipients so whats the catch? And why would a new blockchain network with a fledgling cryptocurrency or token send out a portion of its networks native resources for free? To understand the value proposition for airdrop distributors and receivers alike, it helps to understand the underlying structure of a blockchain network.
A blockchain platform is a distributed global infrastructure made up of decentralized nodes that share the responsibility of maintaining the network, verifying new transactions, and keeping a record of the entire blockchain. A network bolsters its security each time a new node is added because it is one more entity keeping record of the blockchain, which gives the blockchain another layer of redundancy and increases overall network participation with respect to consensus and governance. Network participation is generally a good indicator of the level of a networks general security. The more nodes that comprise a , the more difficult that network becomes to attack or compromise.