Within the crypto space we often hear about airdrops and giveaways of new crypto coins and tokens, but what does that really mean? In this page we will introduce the concept of crypto currency airdrops, discuss what they are designed to do, and show you how to take advantage of them to boost your crypto currency portfolio. We will also give you a list of current crypto airdrops and giveaways to help you make the most of these greenfield opportunities.
What is an Airdrop?
A crypto currency airdop is an even where a crypto coin or token is freely given away to a large number of crypto currency wallets, and is usually done to promote a new coin or token and get a large quantity of them into the marketplace in a short timeframe.
Are airdops legit?
The concept of crypto currency airdrops and giveaways is certainly legit, however, not all coins that are distributed in this way will end up being successful, but that can also be said for almost all crypto currencies anyway. At least with airdrops, users have not had to pay to get the coins, so there is very little or no risk.
How to receive crypto airdrops
Airdrops for various crypto coins and tokens are often advertised in banner ads, listed on crypto related websites, or promoted via email lists. If you receive an email about an airdrop that you did not sign up to receive then you should proceed with caution, especially if you do not know or trust the source, as these types of email may be used for phishing and other nasty purposes.
To receive an airdrop, you usually just need to sign up on the official website for the new coin or token that is being distributed, provide your name and email address, and wait for the airdrops to begin. In some cases, the development team will have prepared a new desktop wallet designed for that particular coin, and you will be prompted to install it on your device. In the case of various Ethereum based tokens being airdropped, a contract wallet such as MetaMask may be suitable. In any case, refer to the official website of the coin or token being given.
What to do with my airdrop coins?
Once an airdrop of a new coin or token has been completed, you will generally need to wait a while, maybe a few months, for the coin to be listed on one or more crypto exchanges, at which time you will be able to start trading it. Some new coins and tokens never progress much past the airdrop stage, while others may go on to reach the moon. Much depends on the skill of the development team, the usefulness of the actual project behind the coin, and the overall success of the airdrop itself. At the end of the day, nobody really knows what lies around the corner, and who can really say which crypto coins and tokens will be real winners in the long run? One thing that is obvious though, is that it is much better to have new coins and tokens than not to have them. They might just turn out to be the next big thing!
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