WHAT IS AN AIRDROP
An airdrop is a setup/situation in crypto space where a new cryptocurrency/concept proposing to launch its project or an already existing cryptocurrency/project launches a free to participate campaign to reward participants with a small/specified amount of its coin after they must have completed the task assigned to them in the campaign.
This is the best comprehensive meaning of an airdrop i could come up with but it looks like its not explanatory enough so am gonna break it down for better understanding.
Typical Meaning Of An Airdrop
As we all know,there are more than thousands of cryptocurrencies in existence right now,but have we ever thought for a second about how most or all of them came into existence??,lets have a small evaluation.
The blockchain is a free space where you can launch an idea[project] and monetise it by launching your idea
There are three (3) major ways through which a project can be launched into the crypto space and become of meaningful existence which are:
●pre-ico
●ico and
●airdrop.
Pre-ico
This is a very limited crowd funding program which a project proposing to launch its own cryptocurrency organises at its very infant stage when majority of the crypto population is unaware of the project
Pre-ico in most cases last for a very short period of time and the funds realised are just needed to kick start the project...investors who invest during a pre-sale are usually at an advantage to those who invest later on because they get to purchase the coins at a very cheap price.
ICO [INITIAL COIN OFFERING]
Ico's on the other hand solely relies on crowd funding where the team behind a project openly invites investors to participate in its project by contributing funds or buying its coin
Ico's last for a much more longer period than pre ico and the price of the coin is a bit more expensive than that offered during the presale.
AIRDROP
Which is our main focus today is also type of pre-ico but its free to participate in respect to money [no money is required at all] but you have to use your time and internet connection as well as your phone to complete the task that the team assigns to you.
In some cases,airdrops are organised even when the coin is already on exchanges,this is to stimulate active and continuous growth of the project.
Airdrops are usually in the form of a fill in the gap online form where you have to appy for receiving the airdrop tokens by inputting your ethereum address and some other details as required by the team
PURPOSE OF AIRDROPS
●To promote adoption of the coin and create/increase awareness: a project is usually unsought in its early stages,owners of infant projects (team) see airdrop as an oppurnity to create adoption and usage of their cryptocurrency.
Hence they result to perform airdrops as it increases awareness for the project which will most likely stimulate the positive growth of the project.
In cases where a coin is already in existence and the team wants to increase awareness or usage of the coin, they can always use airdrops to attract potential investors to participate in their project.
●As a marketing tool:most crypto currency projects usually lack funds required to run their project and cover for costs such as marketing and advertisement for their project, airdrops can be simply adopted to encourage individuals in crypto space to do their bidding through social media in exchange for a specified number of coins
●A Holding Tool:dumping of cryptocurrencies by investors have become a major trend today in crypto space,this can be avoided and reduced through airdrops.
The team of a crypto currency can strategically organise a weekly/monthly airdrop to investors who hold the coin based on the number of coins held.
Other purposes of airdrops
● as a medium to launch a cryptocurrency
● marketing strategy
● stimulate active participation for a coin
REQUIREMENTS
Enough of the long talk,I assume by now everyone reading this post now fully understands what an airdrop is,lets talk about how to participate in these airdrops and reap its benefits.
An account on bitcointalk.org:btt can be said to be one of the earliest forums in crypto space where information,gist and news about cryptocurrency and related articles are been shared.
Source: screenshot from my phone
Most team[crypto project owners] make posts about their project on bitcointalk.org and usually look foward to active interaction about their project on the forum,most attimes,crypto investors who look foward to acquire a stake[airdrop] of the coin are usually required to give positive review about them in the comments about their project.
An erc 20 ethereum compliant wallet:this is kinda very important above all other requirements to participate in airdrops,because most airdrops are usually erc 20 tokens,you need an ethereum wallet to receive and store your airdropped tokens.
And airdrops usually appear in forms which you will be required to input your ethereum address to receive the airdropped tokens..there are quite a number of erc20 wallets but I highly recommend
● myetherwallet.com [web based wallet]
● imtoken [app based erc20 wallet]
Waves wallet:some airdrops are also organised/performed on the waves client platform and you need a waves wallet to receive and store airdropped wave based tokens,
hence the dire need for this wallet...my recommendation for waves wallet is:
waveswallet.io [its both a web and app based wallet so you can use any which you feel you are comfortable with but I suggest the web based wallet]
TELEGRAM
the importance of this cant be over emphasised,almost all projects that launch airdrops focus on building an active community of users in their telegram group and release important information in their telegram channel
You have to join these groups to keep up with the project,dont worry about how you would join,the link is always stated in the airdrop form.
Moreso,the home of active groups for airdrops is telegram,here is a list of telegram channels you can join to get legit airdrop forms.
Twitter: https://twitter.com/Airdropalert1
Facebook: https://facebook.com/cryptoairdropalert
Email: cryptoairdropalert1@gmail.com
https://t.me/cryptoairdropalert
Most airdrops require promotional activity through the use of popular social media which usually includes:
● A Twitter account
● A Facebook account
● A discord account
● A twitch account
● Whatsapp
Lastly an email address is usually required to keep up with progress of the crypto currency which you have applied for their airdrop program.I advise you create a separate email address for airdrops only to prevent spam and invasion of your personal privacy.
Note:some airdrops might require some criteria not stated in this post such as maintaining a minimum balance in your ethereum/waves wallet or you might be required to download a private wallet or software or as dictated by the airdropping token team.
TYPES OF AIRDROPS
● initial airdrop: done at the beginning of the project
● active airdrop: usually done to promote holding of a coin when it is already in existence.e.g you get 10% of your holdings every month.
● signature based airdrops: usually done for limited version coins and it takes place weekly or anually,most usually requires a private wallet or coinomi wallet.
● promotional airdrop: used to promote a cryptocurrency usually in form of bonuses and bounties.
● strategic airdrop: used to enhance project planning and illustration and stimulate activity for the project.
I guess thats practically everything about airdrops and how you can participate..I hope this post is detailed enough and I could help lne or two understand airdrops and hopefully they engage with it.
thanks to everyone for reading through,kindly upvote,comment,contribute,criticise and resteem for visibility.till the next time we meet,I remain my humbleself
