Is there a time that unexpectedly you received coins in your cryptocurrency wallet and didn’t know where the free coins came from? That, my friend, is most likely the result of an airdrop. Yippee for free money!
Airdrops can be delivered in a variety of ways, including forks (e.g. Bitcoin Cash, Bitcoin Diamond), ICO purchases (e.g.Raiden Network), and freebies (e.g. Binance gifting customers with 500 free TRX). Sometimes an airdrop will occur if a team behind the blockchain project decides to give away “free” tokens to the cryptocurrency community.
One of the most well-known examples of an airdrop is when a hard fork of Bitcoin, Bitcoin Cash, gave current Bitcoin holders an equivalent amount of Bitcoin Cash. At the time of the airdrop, if you were holding 0.4 Bitcoin, you were one of the many lucky receivers of 0.4 Bitcoin Cash. With Bitcoin Cash currently valued at $2,469.36 USD, that sounds like a pretty sweet deal
and based From Wikipedia, the free encyclopedia
An airdrop for a cryptocurrency is a procedure of distributing tokens by awarding them to existing holders of a particular blockchain currency, such as Bitcoin or Ethereum. In the United States, the practice has raised questions about tax liabilities and whether they amount to income or capital gains.
What are required for airdrops?
Airdrops require that anyone who wants to participate should have the following: 1. Bitcointalk account 2. A telegram account 3. A waves wallet or other ERC20 wallets 4. A Facebook account 5. A Twitter account
Others can require accounts like LinkedIn.
However, a big question still remains. Why does this happen, and why would a team decide to give away valuable tokens? Think about it this way. When you’re walking down the aisle of your favorite grocery store and employees are offering you samples of food to try, you may take a quick peek to analyze what the food is to decide if you want to try it. You take a bite, and it sure is delicious. The employee offering you the free sample then says “if you like it, you can find it in aisle 5 on the left-hand side”. From that single nibble, you may just go and buy the product.
In marketing, awareness is often one of the initial steps in a buyer’s journey. As with the grocery store example, psychology plays a crucial role in the aspects of an airdrop, as a buyer is much more likely to purchase a product they are familiar with than a product they know nothing about. Therefore, those in charge of distributing the tokens see an airdrop as a key opportunity to give you a taste of their tokens. Compared to alternate forms of costly advertising (such as Facebook Ads), airdrops are often a more effective approach to showcasing coins.
Usually, airdrops occur on the Ethereum or Bitcoin blockchain and all you need is an account on an exchange. However, those in charge of the airdrop will sometimes state a specific wallet that’s needed such as an “ERC20 non-exchange wallet”. If you’re new to cryptocurrency, you may not know what this exactly means and that’s ok, we’re here to help.
What ShipChain means by a non-exchange wallet is simply a wallet that isn’t located on exchange sites such Binance or Coinbase. Reputable non-exchange wallets include Exodus and Jaxx. For a detailed list of wallets, feel free to visit our Bitcoin Wallet guide. The article also includes ways to safely store your tokens and the advantages/disadvantages of using different types of wallets.
An ERC-20 wallet simply means any wallet that supports the Ethereum blockchain system. Some tokens follow Bitcoin protocol, some follow Ethereum, etc. Therefore, it’s important to have a wallet that allows you to store ERC-20 tokens if that’s what the airdrop guidelines call for. MyEtherWallet (MEW) is a popular ERC-20 wallet.
so the question is how can you be inform in the upcoming airdrops? thats easy just join the t.me/Aidrops4today they give out the latest airdrop each day. Remember if you join today youll earn in the upcoming days, you can also join the past airdrops by join their past notifs.
