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A crypto airdrop is like getting a coupon to receive a sample of something free. When a company airdrops cryptos to its users they aim to advertise their crypto. This is a marketing strategy. Today we will see the various types of crypto airdrops that are there in the crypto space.
What Is Airdrop In Cryptocurrency?
In the case of a crypto airdrop, a new cryptocurrency project offers digital currencies to new users for free or in exchange for a small task like social media posts or sharing. This practice of offering free crypto became popular especially during the ICO (Initial Coin Offerings) craze of 2017 and 2018. There are many crypto projects that have used airdrops for the promotion of their ICOs and sparking passion about their new digital coin.
Along with the regular coins, governance tokens are also at times airdropped, giving early adopters a bigger say in how a project will proceed forward. In the case of the users, the appeal is easy: Crypto airdrops enable people to get tokens without having to purchase digital currency. And for the entities, the advantage is clear: People who otherwise would never have understood about the project could end up becoming investors, or at least, offer free advertising for the entity.
What Are The Various Types Of Crypto Airdrops?
Airdrops can take place in several varied ways. The term is most often used to apply to free tokens that are deposited to the wallet of a user in exchange for nothing more than registering in that company with an email address. But that is not the only type of crypto airdrop. There are many other types of crypto airdrops which we will discuss in this segment.
Standard Airdrop
This is the type of crypto airdrop that we have just started, where users get free tokens just by signing up for a newsletter or something that is similar to it. Here you will find many best crypto airdrops.
Bounty Airdrop
Bounty airdrops need users to do a simple task to get the airdropped crypto coins. Most often this includes creating an Instagram post, re-tweeting some posts about the project, and tagging a few friends of yours, or just joining a Telegram group.
Exclusive Airdrops
Airdrops that fall under this segment are specified exclusively for people who have a fixed history with a specific website, project, or community. For instance, Uniswap offered its loyal users with 2500 UNI tokens in September 2020. This amounted to about $1,200 at the time, and there were no single strings attached to it.
Hard Fork Airdrop
This one is a bit varied. When a coin hard forks from its real blockchain, a new coin gets formed, and those who already held the real coin will get an equal amount of the latest tokens in their wallets. The most renowned instance of this would be the BCH (Bitcoin Cash) hard fork that took place in 2017: BTC users who held Bitcoin received an equal portion of Bitcoin Cash automatically.
Holder Airdrop
These airdrops are the same as hard forks in that the customers who already hold some type of tokens will get the latest ones. Ethereum and EOS, for instance, have sometimes provided their users with free tokens when a new project was formed on one of their blockchains. These are not hard forks of the real coins, but rather a completely new project that is created on top of the Ethereum and EOS protocol.
Is Crypto Airdrop Safe?
Even though crypto airdrops seem a lucrative offer, there can be many scams around the same. Many users have been victims of airdrop scams and so it is important to stay alert.
In the middle of an industry with much more puff than regulation, some scammers designed a way to pull investment funds without actually forming anything. They would design a coin or say they were aiming to form a coin, and then assert to have plans to airdrop a crypto.
At times the entities would need small fees to be qualified for the mentioned airdrop, or other opportunists would make investments thinking that the airdrop itself would guide to a successful project.
While these types of airdrop scams might be less common these days than they were three or four years before, investors would still do well to be wary when it comes to digital currency airdrops. There will be many upcoming airdrops which you need to keep a track of.
The Bottom Line
Crypto airdrops imply the users getting some crypto for virtually nothing like an email address or some promotion on social media. There are many types of crypto airdrops presently in the market that have varied functions. We have all the types in this article and also the facts that are theory safe to use. If you are wondering, how to get crypto airdrops. You will need to keep an eye on the networks that can offer airdrops. You can also search by airdrops that pay instantly 2021.
Frequently Asked Questions On Types Of Crypto Airdrops
1. What are the types of cryptocurrency?
There are types of digital currencies. But all are divided into two main categories: Bitcoin and Altcoin. Bitcoin is the first and most popular digital currency, while altcoins include all other digital currencies in the crypto space except for bitcoin.
2. What is an NFT airdrop?
NFT airdrops are gifts that are offered by artists as a form of promotion. It can be a digital art piece, a game, and many other non fungible tokens.
3. What are airdrop coins?
In the case of a crypto airdrop, a new cryptocurrency project offers digital currencies to new users for free or in exchange for a small task like social media posts or sharing. This practice of offering free crypto became popular especially during the ICO (Initial Coin Offerings) craze of 2017 and 2018. There are many crypto projects that have used airdrops for the promotion of their ICOs and sparking passion about their new digital coin.
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