How does Airdrop work?
What are Crypto Airdrops?
Who would have anticipated the surge in popularity of tokenized freebies? Airdrops transitioned from a simple marketing strategy to a comprehensive user acquisition approach within just 12 months. While we've briefly touched on the topic on our homepage, let's delve deeper into the burning question for many: "What are crypto airdrops?"
In simple words, an airdrop is a distribution of a cryptocurrency token or coin, usually for free, to a large number of wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.
The simplest analogy in the real world is likening it to free samples handed out by big producers launching a completely new product. Such samples allow people, who confirmed to receive them to try out the new item and spread share their feedback to others creating some kind of hype around the product and motivating other people to purchase the product. Basically, this is how airdrop works.
The inaugural airdrop was Auroracoin, distributed to citizens of Iceland in early 2014.
This is how Airdrop Works
Curious about collecting these free tokens? You can find hundreds of guides for the most profitable upcoming airdrops on Cryptoset.GG. Check Airdrops section now and start receiving coins with zero investments
Typically, participating in free airdrops involves following projects on their major social media accounts. They aim to build a fresh cryptocurrency community for their ICO, IEO, or STO. Tasks such as joining Telegram are among the simpler requirements to receive airdropped coins.
Post-task completion, there's usually a waiting period before airdrop distribution, spanning a few months until the token is listed on exchanges. Don't fret if there's a delay; just ensure you've followed all the necessary steps to avoid ending up with an empty wallet.
What are ICO Airdrops:
An ICO airdrop is a project offering free tokens during its fundraising process, leveraging freebies as a cost-effective marketing strategy that spends tokens valuable only if the project succeeds. Basically An ICO is a fundraising method where a new cryptocurrency project sells a percentage of its native tokens to early investors. In return, investors hope that the project's tokens will gain value once the platform is developed and operational. The same as for a regular Airdrop, participation in ICO airdrops often requires individuals to perform certain tasks, such as joining social media channels, signing up for newsletters, or referring others to the project. These tasks help the project increase its online presence and community engagement.
Where do you find Airdrops to Participate?
Already eager to dive into the world of airdrops? Cryptoset.gg is a perfect place for those who are interested in free crypto as, here you can find useful articles in a Blog section, comprehensive Airdrops guides, active crypto Communities and much more. With us, you can discover active, and upcoming airdrops which are claimed or assumed to get you the most profit. Our team of professionals manually checks each project to provide you with the most comprehensive guide and tips you may find online.
We've compiled a listing of projects which are going to have an airdrop so you can have everything organized and easy monitor. Additionally, you can join us on Twitter, Discord or Telegram for daily alerts and the latest crypto news
Which Airdrop Platforms should you choose
Most of crypto airdrops operate on the Ethereum network. Since most airdrops are tokens, they rely on a mother chain. ERC20 tokens, the most common airdropped coins, are built on the ETH network. NEP5 tokens are built on NEO, while Tron, EOS, Waves, and Stellar all have projects creating tokens on their native code.
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Monetizing Free Crypto
Yes, you can earn bitcoin or money by collecting free crypto airdrops. Moreover, it may seem too good to be true, but it actually pretty easy and do not require too much effort from you. At first, find Airdrop opportunities. Keep an eye on reputable platforms that list upcoming, ongoing, or past airdrops. You are now in a right place, as Cryptoset.gg provides information about various airdrops, including their requirements and rewards. Then, just participate in airdrops. Follow certain tasks or criteria set by the project. Complete the required tasks within the specified timeframe to qualify for the airdrop.
Next step is to wait for Distribution: After completing the tasks, you may need to wait for the airdrop distribution period. The distribution timeline varies from project to project and can range from a few days to several months. The final stage is to receive free tokens. Once the airdrop distribution occurs, the project will send the free tokens or coins to the qualifying participants. These tokens are deposited directly into the wallets specified during the airdrop registration. Simple as that!
Where Can I Sell My Crypto Airdrops?
It's natural to be eager to sell your first earned crypto. However, consider holding onto a few tokens; their value might surprise you from a long-term perspective. As the airdropped tokens are credited directly to your wallet and are yours, you can do with them whatever you may want.
Conclusion
Airdrop is a simple and interesting way to grow your portfolio without spending real money on it. They are profitable for both project runners and participants so basically it is all positive. If you are looking for more information on how does airdrops work - we have a detailed article explaining that. For those who want to start right now - welcome to Airdrops section and good luck!
