Airdrops in Crypto: Free Coins for You

Airdrop is a marketing strategy that aims to distribute a particular cryptocurrency or token to an audience.

What is an Airdrop?

An "airdrop" refers to a method of distributing cryptocurrency to users based on the fact that they already own certain other tokens or wallets on a particular blockchain. It is usually done for marketing purposes to interest holders of other tokens or to encourage them to become participants in the blockchain network.

Typically, airdrop works by requiring users to hold a certain amount of tokens in a publicly opened wallet at a predetermined time (snapshot time). In this case, the project conducting the airdrop will use a snapshot to distribute the airdrop tokens accordingly.

As a result of airdrops, users can diversify their cryptocurrency holdings, spread the word about the airdrop token, and earn effective dividends (from their previous holdings). Most airdrop campaigns use mechanics such as receiving coins or tokens in exchange for performing simple tasks such as sharing news, recommending friends, or downloading an app.

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