What is a Cryptocurrency Airdrop?

In this article, we will be discussing what a crypto airdrop is for future reference, as we want to show you the best opportunities in the crypto space for making free cryptocurrency gains. Before we make any comprehensive lists and newsflash-type announcements, we would like to introduce our readers to the world of airdrops.

A crypto airdrop is a distribution of a cryptocurrency token or coin, usually for free, to a large number of wallet addresses. Airdrops are often used as a marketing strategy by blockchain-based projects to raise awareness, increase the number of holders, and drive adoption of their token.

Airdrops aim to attract attention to a new cryptocurrency, help adoption, and reward early supporters. By distributing tokens to a wider audience with the help of airdrops, developers hope to create a community of users who will actively use the token.

Even if these projects do not achieve significant success and their tokens fail to increase in value, early adopters are not heavily impacted because they received the tokens for free and did not invest their own money.

Being eligible for an airdrop depends on the criteria set by the developers of the actual coin being airdropped. More often than not, airdrops require users to participate in some form of project, such as completing tasks, filling surveys, or sometimes even playing games. Other times, all you will need to do to be eligible for an airdrop is to hold a certain amount of a different cryptocurrency.

You almost always will need to register, and connect a wallet address that is compatible with the coming airdrop to successfully participate.

Types of airdrops

Standard Airdrops: Tokens are distributed freely to users who meet the criteria. This has become exceedingly rare, but they still exist legitimately.

Bounty Airdrops: Users earn tokens by performing specific tasks, such as promoting the project on social media or referrals.

Holder Airdrops: Tokens are given out based on the amount of a specific cryptocurrency held by users.

Exclusive Airdrops: Tokens are given to groups such as early investors or community members.

Crypto airdrops do not come without their risks for users. Scammers can exploit airdrops by creating fake tokens. Users should be cautious and verify the legitimacy of the airdrop and their creators. We will be doing our best to select in our news only the best airdrops for our readers, that you can be sure is valid and safe.

A recent example of an airdrop at the time of our article is the airdrop supplied by Blast Network: a layer 2 ETH network, where users need an invite code, and then supply ETH tokens to BLAST. By doing this, users can earn points, and receive BLAST tokens accordingly as a reward. If you're interested, you can sign up here with the code WS7XR. Make sure to always read terms and conditions before jumping in to participate in an airdrop.

Stay tuned for more exciting crypto casino, and airdrop crypto news!