What are Crypto Airdrops, and how do they work? – 101
Airdrops are rewards which you recieve in return for spreading awareness about a particular crypto project. New blockchain-based projects usually pay active members in the community for gaining new users to their platform, or for performing small marketing tasks such as retweeting or sharing a post.
Airdrops are typically available before the crypto is available on the general market. Keeping your eye out for emerging projects is key to this method. An example task could include signing up on a particular platform, sharing a post, following a social media channel or joining their community.
How do they work?
In summary, you carry out a set number of tasks in order to be rewarded in a certain cryptocurrency. These are currencies that are relatively new and therefore looking to gain more awareness. They do this by using the Airdrop method. For example, in a certain Airdrop for 1000 coins of a particular currency you need to retweet or post about the coin on Facebook. By doing this, they are extending their reach to all of your friends and followers and in return, they will reward you.
Airdrops also take the form of signing up to a particular new exchange or crypto swapping service. You could be rewarded for signing up and trading in a certain amount. For example, you may need to sign up for an exchange and deposit $100 or trade a certain amount of crypto. In doing this, the exchange increases its trading volume, which in turn increases its visibility. Many exchange rankings take into account the amount of crypto transacting (the flow) and the more there is, the higher they may rank against others.
Where do I find Airdrops?
A simple google for ‘Crypto Airdrops’ will provide you with a whole host of available sites that make it easy for you to see what is available.
These include Airdrops.io and airdropalert.com. You should also keep your eye out for Binance news as they also frequently promote and conduct airdrops.
Airdrop best practice
If you spend your time earning crypto through Airdrops we have some guidance on best practices for you. First and foremost is to try and keep your personal accounts separate, otherwise, your inbox, Facebook page, Twitter, or Telegram is going to get messy. We recommend that you set up a separate email account to use as you’re going to be signing up for a lot of different services and accounts. Keep it clean!
You could also set up a separate Twitter or Facebook page. For those who wish to remain private or have some privacy to their online activities, you could even set up a whole new online identity. This would require a name, email address, and social presence. This would be for those who really want to keep things separate but bear in mind that if you do partake in any deposit type Airdrops, you may experience some difficulty when it comes to verification and deposits.
Airdrops are a relatively easy way to earn crypto. Bear in mind that the majority of coins you will be rewarded in you may not have heard of, however, these could turn out to be little gems in years to come!
Airdrops can get frustrating with the number of places you need to sign up to, which is why we suggest using alternative accounts to keep things simple.
Test the water and see if Airdrops are of interest. If you can spare the time to perform the tasks then it’s easy