Get to know the Crypto Airdrop, How to Get it and the Terms
Did you know that You can get crypto coins for free, you know! Yes, in the world of cryptocurrencies , this is possible with a crypto airdrop. So simply, an airdrop is the giving away of crypto assets by owners for free to some communities or individuals. Interesting right?
Then, how to get a crypto airdrop? Calm down, here we summarize some information about what a crypto airdrop is specifically for you. Let’s see!
What is a Crypto Airdrop?
An airdrop is a number of people or groups who get crypto assets for free.
In the process of giving, the airdrop will be transferred directly to the respective recipient’s crypto wallet.
You can get airdrops in various ways, one of which is buying crypto assets through an ICO or initial coin offering before the exchange shows official listings .
The purpose of airdrops is as a marketing strategy to make someone or the community more aware of new tokens or crypto coins that will be or are being launched.
From the activity of giving crypto assets for free, it is hoped that traders can have increased awareness .
When awareness has arisen and increases, it is likely that later when the asset is listed on the exchange, the price can soar in a short time.
Why Do Crypto Developers Share Airdrops?
You, as a trader, are certainly very enthusiastic about this free sharing of crypto assets.
However, what is the real reason these crypto securities are giving out crypto assets for free to their users?
Well, there are 5 reasons that might answer the question above, the reasons why there is a crypto airdrop sharing are:
1. Creating Awareness
As explained in the understanding that the purpose of airdrop is to build awareness of its users, when launching new crypto projects.
He has to compete with more than 9,000 existing tokens and coins if he wants to be known as an altcoin.
Therefore, they need the right strategy, one of which is distributing this airdrop.
2. Attracting Investors
Furthermore, another reason why traders are given airdrops is that the new crypto project can become the subject of their conversation.
In the world of cryptocurrencies, rumors circulating can be seen as a form of engagement between developers and investors .
Therefore, giving away crypto assets for free can increase their engagement .
3. Decentralizing Token Distribution
The main idea that cryptocurrencies rely on is to decentralize the world of finance.
However, some investors who have a lot of capital actually hold their crypto assets in large quantities.
So, the airdrop is the retail investor’s solution to balance the distribution of their crypto assets.
4. Studying Investors
One of the reasons why there are advantages to airdropping is getting data.
When you are going to make an airdrop claim, you usually have to fill out a personal data form first.
Your personal data is useful as information on the target market of the new crypto project.
5. Giving Rewards
The final reason why crypto developers share airdrops is as a form of reward.
Almost all investors in the crypto world expect to have the highest moment in their portfolio ROI.
Usually they will sell crypto assets and buy other project tokens/coins when they reach that moment.
That’s why a number of projects provide airdrops before the ICO.
Advantages and Disadvantages of Airdrops
When there are many crypto startups launching new crypto assets, it is only natural that the competition among these companies is quite fierce.
Therefore, they use airdrops as a strategy to promote new assets.
They hope their company can be more dominant than competitors.
In addition, among them also make a list of any benefits from the airdrop that they offer to their target market.
However, behind the advantages there are always disadvantages. Cryptocurrencies will have value if used by many people.
Well, so that people are interested in using it, it costs money to market it.
Therefore, airdrops do not always have to be profitable. There are some startups that try to trick their users by instead of providing airdrops, even though doing so can harm users.
How to Get Crypto Airdrops
There are various ways to get airdrops, one of which is by joining the airdrop hunter community such as on Facebook, Telegram, and others.
Judging from how to get it, crypto airdrops are divided into several types, including:
1. Standard Airdrop
The first way to get an airdrop is the standard way, namely prospective users must register first before getting an airdrop.
You only need to register your name and email address to get standard airdrops.
2. Bounty Airdrop
This method is fairly easy. To get an airdrop share, you are usually only asked to repost, forward or retweet the airdrop provider’s web link.
Then, invite your followers to join in the event organized by the airdrop giver.
3. Airdrop Holder
Holder airdrop is a method that requires you to have a certain amount of crypto assets stored in a blockchain wallet .
The number of airdrops you will earn depends on the amount of your crypto assets deposited.
4. Exclusive Airdrop
The last way to get airdrops is from exclusive asset sharing activities or you could say a kind of giveaway.
Generally managed by sites or social media that have many followers.
The main requirement to be able to participate in this airdrop distribution event is that you have to be a follower or check their site regularly.
Conditions to Get Airdrop
After knowing how to get an airdrop, the next thing you need to understand is the requirements to get an airdrop, including:
- There is a minimum amount in cryptocurrency.
- Crypto wallet owners have to complete certain tasks. Like, joining social media communities related to crypto investing or contributing to blockchain wallet projects, and others.
- Furthermore, promoting new crypto asset projects on personal social media, registering on airdrop websites, and others.
Airdrop Scam
Until this moment, fraud is still rampant with the lure of giving airdrops.
Therefore, you must always be vigilant so as not to be tricked when trying to get an airdrop. The following are 3 types of fraud under the guise of airdrops:
1. Referral Theft
Many digital platforms use referral codes to increase the number of users or transactions in their business.
Usually, they ask you to fill out a form on a website.
After that, the personal data you fill in will be used for account registration on a different platform.
If used for fraud, they will use your referral code for the purpose of personal gain.
2. Data Theft
Usually, fraudsters will convince someone to want to access a website or link .
On the website, all your personal data will be collected, such as email address, social media, crypto wallet complete with password.
This data can later be sold by fraudsters to third parties or used for phishing purposes.
3. Private Key Theft
The private key is the secret repository of your crypto asset wallet.
Generally, in the process of distributing airdrops, what the airdrop distributing company will ask for is to request access to the public key, not the private key.
Giving a private key to someone you don’t know means that your wallet is more likely to be hacked.
You should be very careful with other people, even those closest to you, who ask for private key access under the guise of airdrops.
What to Prepare?
As additional information, there are several things that you need to prepare before you can get an airdrop, including:
- Ethereum wallet
- Activate MyEtherWallet
- Telegram account
That’s the explanation about what a crypto airdrop is.