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CRYPTOCURRENCY 101 (#10): WHAT IS AN AIRDROP? HOW TO RECEIVE FREE CRYPTOCURRENCIES?



What is an “airdrop”?

In cryptocurrency, we can define “airdrop” as a process whereby a crypto company distributes their tokens to wallets of some users free of charge. It is simply that we can receive free cryptocurrencies!

There are three reasons that make them do so:

  • To create awareness about a new cryptocurrency

  • To generate leads for marketing purposes

  • To reward loyal customers

How to receive free tokens from an “airdrop”?

1. Sign up for online channels that provide information about cryptocurrency airdrops. These include websites, Twitter accounts, Telegram groups, as well as online cryptocurrency airdrop forums. We can search them with the keyword “airdrops info” or “airdrops news” on any search engine. Here is a useful tool to track airdrops also: Airdropalert

2. Get a cryptocurrency wallet. It is necessary to find a reliable crypto wallet, where we can monitor our funds easily. It is even more crucial to get an ERC20 compatible multicurrency wallet, since most tokens in the market are ERC20 tokens.

3. Find an airdrop that we like, go to their website, and then follow their instruction to receive their tokens. Every airdrop has an exclusive set of rules.

4. Wait until the chosen airdrop activates. Then we have our deserved reward.

Notice: It is important to be cautious. Otherwise, we can easily become a victim of fraudulent airdrop campaigns. Some airdrops are designed to hack wallets and steal private keys. We have to make sure to confirm the authenticity of a cryptocurrency airdrop campaign before participating in it. Do not give away our private key! Do not give away all the personal information! Beware!

#cryptocurrency101

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