Crypto airdrops are the common way through which block chain based projects disseminate free tokens among the users. It is used in a case where the project developer would want to advocate for his or her new project, provide an incentive to those who have been supportive in previous projects or as a way of encouraging community participation. Below is a simple and brief description to give you an idea of how the crypto airdrops and how they could be useful to you.
What’s a Crypto Airdrop?
A crypto airdrop is defined as the distribution of crypto currency tokens to the user’s wallet. Such tokens are often distributed as part of a marketing campaign to increase people’s awareness of a particular project or as a way to incentivize the project’s early and constant supporters. Airdrops can come in various forms, including:
- Bounty Airdrop: It makes participants complete the specific instructions like using the social networking button as buttons to share contents or entering their e-mail address as the address to which they want MGC tokens to be sent since they are offered free.
- Holder Airdrop: It refers to the process whereby tokens are offered to the current holders of a certain crypto currency. It is used where the amount received is dependent on the number of tokens already owned or the amount received is equivalent to the number of tokens possessed.
How Does It Work?
For an individual to be able to participate in an airdrop they have to have a wallet that supports the token of that particular airdrop. Organizing the team of the project, the tokens will be transferred directly to the wallet address, and therefore, in most cases you won’t have to do much for that. There are also some conditions that different airdrops may request for, such as entry of the email address or participation in the social networks, or possession of a specific quantity of a specific coin.
Commonly, smart contract controls the distribution process in which tokens are automatically transferred to the entitled individuals. This makes the process clear and safe. To participate such transactions, the users have to use decentralized exchanges or engage in the project’s website or application directly.
Why Are Airdrops Important?
Airdrops can also be considered as an essential marketing tool when it comes to crypto projects since they ensure that a community is created and hence, the interest is steady. For the users, airdrops mean a possibility to get free tokens that may have a high potential of growing in price as the project grows which sometimes can be long term.
What’s a Crypto Airdrop?
A crypto airdrop is defined as the distribution of crypto currency tokens to the user’s wallet. Such tokens are often distributed as part of a marketing campaign to increase people’s awareness of a particular project or as a way to incentivize the project’s early and constant supporters. Airdrops can come in various forms, including:
- Bounty Airdrop: It makes participants complete the specific instructions like using the social networking button as buttons to share contents or entering their e-mail address as the address to which they want MGC tokens to be sent since they are offered free.
- Holder Airdrop: It refers to the process whereby tokens are offered to the current holders of a certain crypto currency. It is used where the amount received is dependent on the number of tokens already owned or the amount received is equivalent to the number of tokens possessed.
How Does It Work?
For an individual to be able to participate in an airdrop they have to have a wallet that supports the token of that particular airdrop. Organizing the team of the project, the tokens will be transferred directly to the wallet address, and therefore, in most cases you won’t have to do much for that. There are also some conditions that different airdrops may request for, such as entry of the email address or participation in the social networks, or possession of a specific quantity of a specific coin.
Commonly, smart contract controls the distribution process in which tokens are automatically transferred to the entitled individuals. This makes the process clear and safe. To participate such transactions, the users have to use decentralized exchanges or engage in the project’s website or application directly.
Why Are Airdrops Important?
Airdrops can also be considered as an essential marketing tool when it comes to crypto projects since they ensure that a community is created and hence, the interest is steady. For the users, airdrops mean a possibility to get free tokens that may have a high potential of growing in price as the project grows which sometimes can be long term.
