Cryptocurrency airdrop: what is it?

One of the most important factors affecting the success of any new project on the cryptocurrency market is the interest of potential investors and users. The more they get involved in the early stages, the better for the platform.

In this case, the question arises before the founders: “How exactly to draw attention to your project?”. The answer is simple – marketing companies. It is interesting that in the world of cryptocurrencies they can be built according to special strategies. One of them is Airdrop. This is one of the best ways to quickly spread the word about a launch and encourage active user participation.

What is Airdrop?

Airdrops are processes of distributing crypto or tokens on a free basis. Both users and communities can get them on their wallets, and the selection criteria are usually determined by the founders. In addition to attracting the attention of potential participants, there are other goals of launching an Airdrop. For example, the formation of an active community of owners of coins or tokens. This is very useful for the project, as this approach creates more trust and gradually becomes recognizable.

Importantly, in order to receive tokens from Airdrop, users are sometimes asked to perform some simple actions. For example, verifying on the platform, conducting transactions (for example, exchanging cryptocurrency), signing up on social networks, completing a quest, and if you have experience, also testing the product. It is worth remembering that Airdrop is always a free cryptocurrency giveaway. Users don’t need to invest any of their own money in it from their wallet.

Where to find current Airdrops?

This is one of the most common questions that arise from those who want to get free tokens for their wallet. In this case, one important rule applies – you should not rush and choose the first thing that happens on the search path. Experts advise choosing proven resources. These can be:

• Social networks. Currently, they are actively used by the owners of various cryptocurrency projects, including new ones. Such users often publish information on new projects and possible airdrops on their pages. Getting access to it is very simple. You only need to create an account and follow important people. You can do this in several social networks at once. For example, in Discord, Telegram and Twitter;
• Checked thematic forums and sites. They are also the source of current news related to drop launches. A striking example is the site Reddit.

If in doubt, compare information on several resources at once. This will help you understand if a certain project is really planning to drop.

How do Airdrops work?

It all starts with careful planning – the project owners develop the basis for the launch. That is, they form the conditions, compliance with which allows users to participate in the Airdrop, as well as the number of tokens to be distributed among participants.

The next stage is Airdrop advertising. It is usually launched on websites and official accounts in social networks. Users who want to join the project only need to perform the indicated actions and provide data that the platform owners can use for verification. The methods of interaction with the project can be different, in particular, the usual subscription, carrying out transactions using the wallet, as well as completing quests.

Sometimes there are unconfirmed rumors about Airdrop in the infospace. This can also become one of the marketing moves of the new project. After all, in this way, some users begin to actively interact with the project and perform tasks in the hope of receiving privileges and a greater reward. In some situations, this actually works, and the team later announces an Airdrop for those who have already completed certain activities.

What are the types of Airdrops?

Each new blockchain platform can choose one or several formats for distributing digital currency to users’ wallets. If we take into account the criterion of the method, then several options stand out.

Classic (standard)

This is the easiest way to get free tokens from a new crypto project. The owners make no demands on the participants. Sometimes all you need to receive cryptocurrency is a newsletter mentioning the project.

Bounty airdrops

These types differ in the mandatory performance of activities. This means that members need to perform some specific action to get on the list. In addition, several other varieties are distinguished. In particular, airdrops for cryptocurrency users and owners, referrals, control tokens, testnets and with random selection.

In the first case, the project rewards loyalty and trust. The second option involves charging free tokens to the wallet to stimulate and encourage continued work in a specific crypto project. Cryptocurrency Referral Airdrops are a type that provides for the accrual of a certain amount of bonus assets for new invited users. Management tokens are allocated separately.

In addition to monetary value, they give the right to influence project decisions. In this case, they make it decentralized. Separately, it is worth considering the free Airdrop of coins for a deposit. An example is the Binance Launchpool tool. It provides an opportunity to participate in Airdrops of new projects by depositing coins.

Where to find Airdrops?

You can find relevant information on various resources. Let’s consider a few popular ones:

1. Bitcointalk. This is a popular forum that has a separate section with information related to new bounty programs and drops. Many participants leave reviews on the site, so you can find out what might be a scam.
2. Airdrop Alert. This useful resource has data on exclusive NFT giveaways and many other Airdrop formats.

The Airdrops.io site is also worth considering. Here you will find detailed information about cryptocurrency drops from many projects. In particular, data on distribution in social networks (Twitter, Telegram, etc.). All details (conditions, instructions) are described in each case. In addition, the site provides information on token drops for owners of popular cryptocurrencies (for example, BTC and Ethereum)

How to participate in Airdrop using the Obmify service?

The exchanger is an intermediary link in this process. It is needed in case of conditions related to transactions, deposits or other situations where it is necessary to have cryptocurrency in the wallet. Through Obmify, you can buy it using popular types of currencies. The exchange has a favorable exchange rate for purchasing various coins (including BTC and Ethereum). Euros, hryvnias and dollars are suitable for purchase. You can perform the operation online and through cash registers.

Examples of recent Airdrops

The massive drop was organized in 2022 by KuCoin. The platform allocated 500,000 tokens for trading the PUMLx asset (coin) to be distributed to participants. In the summer of the same year, an event of this type was organized by the Pangolin exchange. It distributed 1% of the PSB supply among Airdrop participants. In 2023, the Binance exchange also completed its drop on January 26. This was the 17th round of APENFT allocation.

How not to become a victim of scammers – the real risks of Airdrop

Knowing how attractive Airdrops are to cryptocurrency holders, some fraudsters use it for their own enrichment. To avoid risks, you should remember to study information only on verified sites and pages of social networks.

In addition, it is important to use only the appropriate network for cryptocurrency exchange and to set up protection for your wallet. It is also necessary to pay attention to an important sign that indicates fraud. It consists in the fact that there is a request for private keys, confidential data, account details and other data.

How to Airdrop with Obmify?

The procedure for exchanging free tokens is quite simple. The main page presents a convenient form, which has two fields “Give” and “Receive”. It is necessary to choose the type of payment instrument (token from Airdrop) and the desired amount. Next, in automatic mode, the service selects exchangers that have reserves for exchanging assets from Airdrop to currency. It is enough to compare the terms and go to the page of the chosen platform.

Here you need to familiarize yourself with the terms and instructions. Usually, exchangers offer to withdraw money from tokens to an electronic card or receive cash through the cash register. When choosing the second option, also indicate the address of the point. Crediting of coins under such conditions takes place from the client’s wallet (cryptocurrency holder) to the exchanger’s wallet. This can be MetaMask or another option.