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How crypto airdrop works?

Holden Griffin Answered question May 19, 2023

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Holden Griffin Answered question May 19, 2023

The crypto airdrop is a practice in which current crypto holders of be it Bitcoin or any altcoins, receive free tokens as a reward. In simpler temrs, crypto airdrop is a form of giveaway which has the aim of promoting a particular blockchain.
This practice is something that is relatively new in the crypto market. Consequently, concrete rules on the operation are yet to be created.
The team that organizes a crypto related event will announce a date that it plans to undertake the airdrop. During this predetermined date, to enable the airdrop, the staff will take a ‘snapshot’ of the blockchain, hence resulting in any holders of the relevant cryptocurrency receiving free e-tokens. Most crypto blockchains actually prefers an airdrop that is promoted beforehand rather than surprise airdrops, given the kinda obvious reason being a bid to bootstrap their projects.
The main reason for airdrops is to create awareness for the cryptocurrency. The virtual currency world relies heavily on ‘hype’. Given that crypto enthusiast are always on the lookout for exciting things such as free tokens, publicly announcing a airdrop creates a buzz both on social media and in the virtual currency world.
You could check out this link to find a list of sites that you can use to keep yourself updates with upcoming airdrops.

rajlee Changed status to publish August 21, 2018