Blockchain-based organizations and enterprises frequently use crypto airdrops to distribute free tokens to their community members as part of a larger marketing strategy to create awareness about new products. The intriguing feature of crypto airdrops is that firms do not require you to pay money to obtain what they give away.
Airdrops are a way to get digital money without having to buy anything. More details are available below.
How do cryptocurrency airdrops work?
Crypto airdrops may happen in a variety of ways, but these are the most typical scenarios you should be aware of:
- Bounty airdrop: When receivers participate in promotional activity, such as sharing a social media post or signing up for a newsletter, they will get the digital asset.
- Holder airdrop: When a crypto project takes a snapshot of its community members’ crypto wallets on a specific day and time and allows them to claim an airdrop depending on their ownership.
- Default airdrop: when a cryptocurrency project delivers digital assets to all wallets in its community.
Read on to find out more about how airdrops operate!
The benefits and drawbacks of cryptocurrency airdrops
Crypto airdrops might be an excellent way to diversify your crypto portfolio without buying digital assets. They might be able to get you in on a new platform’s ground floor.
Airdropped assets, on the other hand, may be worthless. You may need to spend time searching for and claiming airdrop opportunities in order for the price of the airdropped money to decline before you may sell.
Worse, there is a risk that you may send money or personal information to a fraudulent website.
If you’re a crypto enthusiast who likes keeping up with new developments and actively maintains your portfolio on a regular basis, airdrops are more likely to be beneficial.
4 Sites to Watch for Cryptocurrency Airdrops
Here are the four greatest sites to hunt for legitimate bitcoin airdrops.
CoinMarketCap, a price-tracking website for digital assets, leads the list for obvious reasons. CoinMarketCap, founded in 2013 by Brandon Chez, has swiftly risen to become one of the most reputable sites for price research, crypto project validation, and digital asset comparison for crypto fans, journalists, and institutions.
The objective of CoinMarketCap is to “make crypto discoverable and efficient internationally by providing retail customers with impartial, high-quality, and reliable information to develop their own informed decisions.”
Airdrops.io categorizes airdrops into six categories: latest, hottest, holder, potential, retroactive DeFi airdrops, and non-fungible token (NFT). The website’s page has a large number of airdrops. When in doubt, use CoinMarketCap to optimize the website and avoid fraud.
3. Airdrop Alert
Airdrop Alert is a free platform that assists consumers in locating legitimate bitcoin airdrops and giveaways. Morten Christensen (the creator) aimed to assist novice crypto fans, avoided fraudulent airdrops and giveaways when he founded the first website for crypto airdrops in 2017. Before posting each airdrop on the site, Airdrop Alert does a thorough investigation.
Airdrop King offers cryptocurrency aficionados well-researched and thorough cryptocurrency airdrops, allowing them to make money with no effort. Unlike the other three, Airdrop King goes above and above to grade each choice and gives sufficient information to help you make the most of any airdrop.