What Is Airdrop ? Full Explained

What Is Airdrop? Full Explained

 cryptocurrency airdrops are basically free coins dropped directly into your wallet it might sound unbelievable but it's fairly common in this guide we'll go over what airdrops are how you can get them and what you should watch out for so, first of all, why would anyone give you free coins there are a few reasons first and foremost it's a marketing technique giving away free coins is a great way to generate both awareness and excitement for your project is there anything that gets people more excited than free money I can't think of anything not to mention that new coins with low value can see huge price swings based on market sentiment if there are suddenly thousands of excited users talking about your coin and pushing for it to appear on different platforms the value increase in your coin alone could easily outweigh the price of giving some away for free furthermore this process can be used to gather valuable information on potential users some airdrops will have you fill out a form with

your email address or some might require you to follow them on Twitter you get the picture the air drop essentially becomes a way of capturing your email address or your social media presence this is immensely valuable to a projects marketers so it's worth the price of handing out some tokens there are also technical reasons that make air drops necessary like hard Forks a hard fork is when the code of a particular blockchain is changed in such a way that makes the new code incompatible with the old code in this case any users holding coins on the old chain would need the new version of the coin to continue interacting with the upgraded chain this can be achieved by air-dropping equivalent tokens to users that have transitioned to the new chain having said all this how do you start getting airdrops this part is fairly simple the first thing you need is a cryptocurrency wallet so that you have somewhere for the airdrops to go there's a ton of different wallets you can get but you'll need one that can accept many different kinds of tokens secondly you should hold some amount of different based tokens like aetherium eos or Bitcoin we call these base tokens because many projects are built on or forked from these coins so having base tokens in your wallet will qualify you to receive airdrops related to the base tokens you own there are more base tokens but those are the big three to start with finally you need access to the information you can be as active or passive as you like in tracking down air drops some may even find you without you having to do anything people often report finding new tokens that they've never heard of just appeared in their wallet one day but the more you surf the crypto sphere and look for opportunities to get involved the more you'll find be careful because free coins are such an enticing offer they can be easy ground for scams for example always be aware of what information you're giving out if you sign up to receive an airdrop your email could be used against you in phishing scams to try and get sensitive information or your private keys speaking of which never give out your private keys if someone has your private keys they have full control over your funds there is no reason to give them to anyone asking even an airdrop do your

best to research any projects who signup to receive tokens from and proceed with caution take the appropriate steps to protect yourself and your information so there you have it airdrops are an

an incredibly interesting development in the cryptocurrency space that can be a fun and mutually beneficial way to explore new projects just be sure to be aware of what and who you're getting Involved With Me 

I Am AkshatPatware, 

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