Crypto users that frequently interact with new and existing platforms will likely receive an airdrop at some stage. Airdrops involve blockchain-based projects and developers sending out free tokens to members of their communities as part of a broader marketing initiative.
What Is a Crypto Airdrop?
Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption. In most cases, a crypto airdrop is issued to users in exchange for completing a certain task. These tasks often involve things such as:
- Following an account on social media.
- Sharing or retweeting one of their posts, including hashtags.
- Sending or receiving a transaction (using a particular crypto platform or wallet).
- Creating an account and signing up to receive updates.
How do crypto airdrops work and are they safe?
There are multiple ways to conduct a crypto airdrop:
- Have users complete one or multiple small social tasks to qualify for receiving the airdrop at a later date.
- Automatically distribute tokens to holders of a particular asset or balance on the blockchain where the airdrop will occur. (For instance, every address with a balance of 0.01 ether or higher gets the airdrop.)
- Taking a blockchain snapshot at a previous date and letting users claim their airdrop tokens from the project’s website through a smart contract.