As the world of crypto is evolving, so is the terminology that surrounds it. While a lot of people are familiar with the concept of cryptocurrency, mining, and probably with terms like NFT-s, there are some that are not used that often. One of those terms tends to be crypto airdrops, and while it is not used too much, there is actually a good reason behind it, because those who know, usually tend to keep it to themselves.
What are crypto airdrops?
You might be familiar with popular marketing strategies where certain companies would be using certain strategies to promote their new product by giving it away with the purchase of another product, or completely for free in order to spark interest.
Well, similar to that, it is not uncommon that a company airdrops cryptocurrency that they have created in order to spark interest and promote it to the world. However, unlike real products that tend to be physical and can be eaten or tested in some way, these airdrops contain cryptocurrency that people can use to trade, invest with, or simply save in their wallet until they see how it adapts to the ever-changing cryptocurrency and NFT marketplace.
In order to promote their crypto airdrops, companies will use various methods like using social media, blogs, and other cryptocurrency networks. Because of this, there is a controversy about crypto airdrops, as they can have nefarious meanings behind them. That is why one should always ask themselves “What are these airdrops cryptocurrencies really about and are they the real deal”!
How do crypto airdrops work?
Now that you know more about the airdrops crypto meaning, let us talk about how exactly do crypto airdrops work? Since most of you reading this are probably interested in crypto for esports, let’s begin with that as esports is a very good example for airdrops.
For instance, if a company creates a crypto game, in order to promote it, they are going to give a couple of airdrops for the virtual currency that is a part of their original blockchain in order to spark interest and get more people to play their new game. How to get free crypto airdrops for a newly released gaming crypto platform you may wonder? There are a couple of methods.
The most common way a company will give away crypto airdrops is by adding their cryptocurrency to your wallet if you do them a small favor like sharing your opinion or a reputable crypto forum, your social media, or blog.
Companies will mostly reach out to you if you happen to have a bigger social media following, but it is not uncommon for them to also make some airdrops crypto Reddit posts where anyone can get some free cryptocurrencies or NFTs that are a part of their new game.
While a lot of companies tend to use their own new cryptocurrency for the airdrops, the most popular way to do it is by sending bitcoin or Ethereum currencies to a wallet as they are the highest in value and most used of all cryptocurrencies.
A lot of people seem to confuse the terms airdrop and ICO. This is understandable, as they are both ways to promote a product or cryptocurrency, the main difference is that airdrops tend to be free or promo-for-currency while ICO is usually offered for purchase to investors to help kick the currency off big.
Where can you get free crypto airdrops?
Probably the main reason why you are interested in crypto airdrops is that you would really like to increase the size of your crypto wallet with some free currencies and potentially make a profit, so let us discuss how you can get free crypto airdrops.
Unfortunately, there is no exact place to check out where you can constantly get some free crypto airdrops, but instead, there are a couple of methods you can use in order to find them. For starters, it is best to perform regular online searches for opportunities that give free crypto airdrops.
Once you happen to find some airdrop aggregators, try following them and sign up for exclusive airdrop opportunities whenever you can. Finding newly created platforms that are looking for new users often give airdrops to get people started off, while older platforms will rarely do this, hence you should avoid them if you want free airdrops.
Finally, if you monitor upcoming projects that are announced and being worked on, you may get your hands on some free crypto airdrops when the project is close to completion, of it some testing is needed from the public before the project is officially released, like a beta test.
It is also not uncommon for a company to offer their airdrops to a crypto broker who will then promote the currency or the product behind the airdrop in their own fashion. Of course, one thing you should remember about crypto airdrops is that they can sometimes be very risky.
Are airdrops worth it?
At the end of the day, this is the ultimate question, and the answer to it really depends on what you are getting from the airdrop, and if it is a scam or not. There are quite a lot of crypto airdrops out there that end up being completely useless and worthless, while there are some that can really explode in value if the product behind them tends to become popular.
Doing some research before you get involved with an airdrop is highly suggested because even if they are completely legit, they can end up being a waste of time if they are worthless, and we probably all know the famous “time is money “ quote very well.
When it comes to the implications that an airdrop is a scam, you should never give away your private key or connect your wallet to an untrusted party. Scammers also tend to add a fake token to your wallet sometimes which is hard to discover, and the best way to treat airdrops is as if they are a scam, to begin with until your research proves otherwise.