Crypto airdrops

Two things that are sweeping the world altogether are digitization and cryptocurrencies. While digitization is taking a slow and steady path, the digital currency market is experiencing a sudden spike. Even though cryptocurrency prices are volatile, many new digital currencies are mushrooming every day. According to the CoinMarketCap list, there are over 9,800 cryptocurrencies in use. However, not all of them are getting equal importance and adoption. Therefore, many crypto start-ups are using tactics to promote new cryptocurrencies. One such intelligence technique is crypt airdrops. 

The competition in the cryptocurrency market is huge. However, the end mark of the race is not anywhere near. At this pace of innovation and blooming cryptocurrencies, the rivalry is anticipated to double or triple-fold in the upcoming years. A digital currency’s worth is estimated based on its market valuation, which involves its adoption, circulation, and trading. Not many cryptocurrencies get to be as popular as Bitcoin or Dogecoin. A whole lot of them are still at the first phase of improvement and need intense marketing to reach a good market cap. Therefore, crypto start-ups and companies are coming up with unique ideas like crypto airdrops to promote and streamline new cryptocurrencies. It draws the attention of the investors and helps them give it a try. In this article, we take you through what airdropping is, its advantages, and how to acquire it.

What are crypto airdrops?

Crypto airdrops is a marketing method employed by companies in the cryptocurrency space to attract investors. It is mostly done by crypto start-ups that look to yield the trust of crypto investors. It involves sending coins or tokens to wallet addresses in order to promote awareness of a new digital currency. Through crypto airdrops, a small amount of the cryptocurrency is sent to the wallets of digital currency users for free in return for a small service, such as resharing or publicizing the company or the cryptocurrency. They are mainly used to generate attention, which will eventually open the door for more adoption and usage. 

Crypto airdrops are displayed on the company’s website and other cryptocurrency forums. They are distributed to crypto wallets. The crypto start-ups mostly focus on distributing the crypto airdrops to bitcoin and ethereum wallet holders. Even though the innovative marketing stunt was initially frowned upon, it saw a major surge since 2017 when cryptocurrency adoption spiked. Many crypto start-ups took up the crypto-airdrops method to accelerate adoption, urge the community to assist promote a project, or reward loyal users. However, after a certain point of time, crypto airdrops went beyond marketing and became a big tactic to check users' luck. For example, some companies offered bonus coins equal to the number of total coins a cryptocurrency user poses as a reward.

Benefits of crypto airdrops

Besides attracting investors to new cryptocurrencies, crypto airdrops are also providing awareness, assigning value, and turbocharging the building of communities. Slowly, crypto airdrops are becoming the new norm for crypto start-ups who want to establish their network by influencing existing crypto investors. However, the disruptive tactic is seen as the need of the hour with many companies lined up to do anything to make their cryptocurrency mainstream. Some businesses are also helping crypto start-ups to fine-tune their crypto airdrop strategy. They provide the companies with alerts on users and listing services to make the initiative more sophisticated. Although crypto start-ups are quickly gaining more market adoption by using the trick, the big share of the cake is going to the beneficiaries.

Who can get their hands-on on crypto airdrops?

Crypto start-ups mostly pick famous cryptocurrency wallet holders to promote new digital currencies. Therefore, most of the beneficiaries are holders of bitcoin, or ethereum, or Dogecoin wallets. They also pick users who have a considerable amount of crypto coins in their wallets. The companies also demand them to do a simple task in exchange for crypto airdrops like social media promotion, sharing with friends, etc. Some of the famous crypto airdrops are listed below,

  • DePo Exchange
  • DeFiChain Airdrop
  • Morpher Airdrop
  • CAIZCoin
  • ChainX