What airdrop cryptocurrency means? How it works?
What is Airdrop cryptocurrency mean? Easy answer: Airdrop in the form of free coins shared from a new startup.
So airdrop is a marketing strategy to expand the distribution network to the public about the use of coins to related parties from investors or cryptocurrency observers.
They will eventually use airdrop.
The first version of Ethereum ICO. Coins have been used
Every time you check Etherscan’s wallet (remember the high risk of opening a wallet with a private key only to check balances), there is a Token Tracker on the top line.
If the Token Tracker is available, it means there are tokens in your account.
These requirements must be fulfilled, otherwise, you do not have a token or airdrop.
But if you are an ETH wallet holder, with a balance in it, you must realize that sometimes there are extra tokens in your Token Tracker.
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It was not a wrong transfer, but the coin team sent coins to a number of Ethereum wallets to market them…
After getting a token, you might Google the coin. Or you can also ask others. Or you might ignore it.
And it could be in the scenario, airdrop failed to get attention.
But the first scenario means you have learned about coins.
While the second scenario is even better, you tell others about coins.
Airdrop has its own marketing method. at the end,
As a method to increase the value of coins, coin users will receive a bonus coin that is added to the total coins they have. Coin investors who want to get airdrop must buy coins first if they don’t already have, or buy more coins.
Recently Facebook’s new advertising policy prohibits the use of ICO (Initial Coin Offering).
Therefore many ICOs have switched to using airdrop as an alternative method for pay-per-click advertising.
With many ICOs becoming consumer-oriented products, they focus on one metric: viral growth via the internet and social media.
The term becomes viral with the help of coin users who spread to the surrounding environment.
How to Participate in Free Airdrop Tools that will be needed
Here are some tools that will be needed to get an airdrop:
1. Ethereum Wallet.
It must be a personal wallet that is compatible with ERC20 because most airdrops are ERC20 tokens as Ethereum-based ICOs. It is recommended to use MetaMask or MyEtherWallet to start the first time. But for a long time, it is recommended to use a wallet device like Ledger Nano S.
2. The Ethereum Wallet must be ACTIVE
At least you have used it. The coin team will check and make sure the wallet is not made just to get more coins.
This means that if it does not show activity, the wallet will not receive the airdrop.
Sometimes, the coin team selects clearly, including the amount of the balance in the wallet.
3. Telegram account
Which is the preferred tool for chatting for many ICOs.
To increase the number of audiences, airdrop coins require you to register with their Telegram account.
Before accepting coins in Ethereum’s wallet, you should not leave your Telegram account or be disqualified for an airdrop.
4. Twitter account.
For the same reasons as Telegram accounts, most airdrop accounts will require you to follow them on Twitter. Some will ask you to retweet some tweets.
5. Email address.
Sometimes the airdrop will ask for your email address and ask for confirmation via email.
Get and Pull Airdrop
It usually takes 1-2 months after the airdrop before you receive the token.
This is because many airdrops occur before or during the token sale; with marketing objectives.
Tokens will not be distributed until the end of the token sale.
To check wallet info and whether the token has appeared in the wallet, visit www.Etherscan.io, type the ETH address in the search box.
In the red circle are areas that you need to see. If the token is available in the wallet, it will appear in the Token Tracker. If the Token Tracker is not available, it means you don’t have a token in the wallet, and that means you don’t receive an airdrop.
When you get a token, you can withdraw it directly, for example through My Ether Wallet (MEW). All you have to do is access the wallet (via MetaMask, Ledger Nano, or other methods – it is not recommended to use a private key) and specify the token that you want to pull.
With a lot of free coin marketing, it’s easy to lose direction when you’ve started clicking everywhere. Watch Out. Here are some suggestions for avoiding fraud:
Never send a private key. Nobody needs a private key to check your wallet balance. They can easily check it through tools like Etherscan.
Don’t send money to an account. Remember that airdrop is free. Even if promised coins or coins will appear in your wallet, an airdrop will not ask you to send money to an account. If this happens, ignore it immediately.
Check official sources. If coins do airdrop, they will usually be announced on their official social media accounts, such as Twitter. Check to make sure the airdrop is official; if not, you might be exposed to fraud to get your data.
Finally, look for trusted sources to help you identify airdrop. Like for example in several discussion forums that discuss airdrop or cryptocurrency. Trusted sources are better than looking for themselves, because of the many frauds.
How does airdrop work cryptocurrency
The aim of the airdrop is to distribute new token coins so that many people are familiar with the tokens.
In companies with good management, he will have a roadmap for work plans at the scheduled time, so that airdrop participants will also know how the company is doing.
If more and more people register and become airdrop participants, then automatically the new token user network is quite strong.
Usually, the company will notify when the coin is listed on the exchange so that airdrop participants will also be able to trade the coin in the designated exchange.
Ideally, the more users use coins to send and receive funds, the value can turn out to be more expensive.
Airdrop is a cheap digital marketing tool, rather than using Google ads and the like.
But even though the way it works is quite complicated, this is one-way crypto fans get the free token.
Advantage and disadvantage of airdrop
Airdrop advantages can be one way to pump new tokens to become more widely known by the public.
By luring retail investors by sharing a number of tokens, this will broaden the dissemination of information about the new token.
By giving the task whether it is by sharing content on social media, or giving invitations via email, with airdrop, network development can be more quickly achieved.
But on the other hand, the airdrop loss is if, after the distribution of tokens to the public, it turns out that not many people use the tokens.
While currencies will not be valuable if there are not many people who use them.
1 What does crypto airdrop mean?
Airdrop is a distribution of new cryptocurrency tokens or coins and is usually free, to various wallet addresses.
Airdrops are mainly implemented as a way to gain attention and new followers, resulting in a larger user base and wider coin payments.
2. Are crypto airdrops worth it?
Airdrop token values vary greatly, depending also on the company that issued the token, some are not worth per airdrop or some are worth real $ 100 or more for just a few minutes of your time.
Airdrop can be a good additional source of income for airdrop participants and can even reach $ 1000 a year, this is not bad considering you get a token for free.
3. Are airdrops legal?
Airdrop can be said as a sale of a security and that the token itself is considered a security.
As long as the token itself is not considered dangerous to certain security then this airdrop should be legal.
For some crypto fans, an airdrop is a project that can provide income for them.
What airdrop cryptocurrency means
Although not all airdrops are legit, with the latest program choices, there is still an opportunity to get money from the airdrop.
But he also must be with patience, because some airdrops can only make withdrawals when it takes about a month or two months.
And you can still follow the development of airdrop performance before the money obtained from airdrop is really cash.