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The crypto world offers a variety of opportunities and crypto airdrops are at the moment among the most interesting. More specifically, crypto airdrops are a promotional tactic usually held by blockchain start-ups and their goal is to increase visibility and awareness for a crypto project. Through this process, tokens or crypto coins from a DeFi application are distributed freely to a selected group of individuals. As you can imagine crypto airdrops are beneficial for both Web 3.0 companies and individuals because both sides have something to gain. However, investors need to be careful because there are many scammers who are trying to take advantage of it.

Understanding crypto airdrops

Crypto airdrop is a marketing strategy often associated with the launch of a crypto coin. As it usually happens a blockchain start-up distributes free coins or tokens to specific wallet ids, often requesting some simple actions in return. Respectively, the individuals owning those wallets, might be asked to hold a certain amount of digital coins in their wallet or complete certain tasks such as promoting the DeFi app on social media. Other tasks might be writing a blog post or making connections with specific members of the blockchain project.

When applying this promotional activity, the crypto company aims to increase the visibility of the project and acquire new followers. Additionally, gaining attention will result in bigger circulating supply which has a very positive impact in every cryptocurrency. Last but not least, crypto airdrops are used to stimulate currency trading when it is listed on an exchange as an Initial Coin Offering (ICO).

However, it is not only blockchain start-ups that benefit from this process but also the individuals who receive the free coins. For instance, someone might decide to keep the received cryptocurrencies for a long period of time and if the price eventually increases those coins will hold big value. So, crypto airdrop might end up to be a profitable investment without having to invest no money at all.

Different Types of Crypto Airdrops

Airdrops are classified into categories based on the requirements that individuals need to meet in order to receive them. The 4 most popular types are listed below:

Standard Airdrop

In a standard crypto airdrop, individuals who wish to receive the reward express their interest and provide a valid wallet address. No other additional information is required. There is a specified number of crypto or tokens that each individual can receive. Furthermore, this type of airdrop has intense competition because everyone that owns a wallet can claim them. The downside for blockchain companies is that people may create multiple wallets and claim more than their fair share. 

Bounty Airdrop

In case of bounty crypto airdrops, companies offer their crypto assets to individuals that participate in a promotional activity. Signing up for the company’s newsletter or offering referral bonuses are among the most popular. A very common example would also be to raise the awareness of the project by sharing information about it in social media platforms, such as by posting and tagging the company or repost tweets about it.

Holder Airdrop

When it comes to holder crypto airdrops, digital coins and tokens are offered to users based on the amount of other cryptocurrencies in their wallets. Thanks to the crypto nature, wallet’s ids and information about their balance are publicly available for everyone in the blockchain. This might be a problem for some individuals because they might not want to receive those airdrops. 

Exclusive Airdrop

The requirements for individuals in this case are different since the main factor in their selection is not the amount of tokens owned. In exclusive crypto airdrops the individuals are selected based on criteria such as the time spent on a crypto project, the amount of money spent on a non – token activity or how often they publish in a forum.

The list above sums up different kinds of airdrops that a company has in her disposal in order to enhance the effectiveness of the marketing strategy. The following section breaks down the essential information an individual needs in order to find the best crypto airdrop opportunities.

How to get crypto airdrops

While crypto airdrops gain popularity, the process to find them is becoming pretty easy. Individuals can discover those offers in websites dedicated to publishing online the upcoming airdrops. Also following relative groups in renowned social media platforms such as Facebook or Reddit is a very good way.

The key in discovering the best crypto airdrops is to maintain consistency when looking for them. Individuals that stay up to date with the latest news and offers are those that grab the best opportunities. In addition, always keep in mind that great airdrops are not in abundance.

Be aware of crypto airdrop scams

The concept of giving away free coins and tokens is the perfect bait for ambitious scammers. For that reason any individual who wishes to participate in a crypto airdrop is essential to be cautious and knowledgeable about fraud tactics. The following tips are important to remember when participating in the process of crypto airdrops.

• The purpose of a legit crypto airdrop is to promote the project and for that reason will never request any capital to invest. 
• Airdrops are used by scammers to deceive careless crypto wallet users. As a result they could ask for personal information for phishing or even the private keys. Legitimate blockchain start-ups are not going to ask for these kinds of things.
• Crypto airdrop scams can also be identified by wallet users if the crypto amount they received is very high

The above are some generic tips that an individual always should be aware of. In any case it is recommended to people holding a wallet to always keep in mind that there are scammers.

Final thoughts about crypto airdrops

Crypto Airdrops are considered a promotional technique applied by crypto start-up companies in order to increase the awareness of their project. During this process, companies select a specific amount of individuals and send them free coins or tokens, usually in exchange for a small task from their part. So, airdrops benefit crypto wallet owners too. That is the reason why more and more people are wondering how to get crypto airdrops. Last but not least, every wallet owner should be aware that there are crypto airdrop scams and always keep in mind to avoid these kinds of traps.

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