What is an Airdrop? - A simple guide to the newest way to get in on new cryptocurrencies at the earliest stages.
Can you imagine getting $1,000 just for joining a newsletter?
This is what happened to the earliest people who signed up to OnChains email mailing list. The company, which is building a distributed network designed to connect real-world institutions, gave 1,000 of its "ONT" crypto tokens to people who signed up to receive its emails prior to a certain date.
ONT is already available on Binance and has been trading for anywhere betwen $1-3 meaning that if you sold at the right time the free coins were worth $3000!
Okay I want in too! What is an 'airdrop' and how do I join up?
An airdrop is free coins or tokens given away by the developer of the coin to users who meet the requirements. There are normally two types of airdrops.
Well established coins will sometimes airdrop free coins to users who are holding coins in their wallet. A recent example of this is OysterPearl (PRL) will be airdropping (SHL) tokens at a 1:1 ratio on April 6, 2018. Anyone who owns PRL will automatically be given free SHL on that date.
Newly starting coins will often have free coins available to be airdropped to anyone who wants to join up to their community, normally signing up for an account and joining into their telegram channels or other social media will entitle you to be part of their airdrop.
What do I need to do to start joining in?
Step 1 - If you haven't already got one you need an ethereum wallet thats is ERC-20 compatible. Either MEW or Metamask are the two best options for making a wallet.
Step 2 - Start joining in the airdrops! Normally you will need an email address, a telegram account, and sometimes a twitter account to sign up with.
Step 3 - Reap the rewards! Airdrops are often of low value initially a few dollars but the right ones can become very valuable indeed, so volume is key. Signing up to lots of airdrops means you have more chance of getting in on the next big coin before anyone else!
Why do they do it?
To create awareness about a new coin - Airdrops are often the very earliest beginnings of a cryptocurrency and are used to start to build a community around the brand new coin and a buzz before an ico or pre-ico sale. With so many competing coins now trying to get attention, free coins to early adopters is a way to jumpstart the community.
To generate leads - Marketing is all about leads. Airdrops can be used by blockchain-based enterprises to generate valuable lead databases for themselves. In exchange for free cryptocurrency tokens, users will be asked to complete online forms that contain valuable user information which can be used to develop targeted marketing strategies.
I'm ready for my first airdrops!
Here are 5 airdrops that have recently opened up and free to join!
- Sign up for Lapo and get 100 LAX airdropped for free! Join here - Lapo.io
- Sign up to cloudbounce for 100 free DB tokens! Join here - Cloudbounce.com and then join their Telegram for a daily 10DB bonus until march 31st!
- Sign up for Lendo and get 50 free ELT! Join here - Lendo.io then join their Telegram
- Sign up for Blok and get 150 BLK Free! Join here - Blok
- Sign up for Kelta and get 4 free KLT Join here - Kelta.com
Want more free crypto?
Who wouldn't? I will be starting a daily post of the best free airdrops that will be exclusively posted here on steemit. Its going to be called "The Daily Drop"
If you want to follow me then feel free!
I am also posting on twitter @cryptodropped
I also add daily posts to Reddit at r/Airdropped