An airdrop is the process of distributing to the masses a large amount of coins or token directly to their crypto wallet addresses without them paying or committing a dime for it. In other words one gets coins for free in the event of an airdrop.
Airdrop is actually a viable way to promote a cryptocurrency project and increase brand. It's always a win win situation for the project developers and the participants. Participants are incentivized with the native coin or token of these project.
It's important to mention that while participants are not required to commit themselves financially, they are required to carry out certain simple task in order to be eligible. These tasks includes, joining their telegram channel, subscribing to their youtube channel, , following then on X and promoting the project on social media
| What is the purpose of Airdrop |
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The purpose of Airdrop is simple and I will be explaining in this section..just sit back and keep enjoying the ride.
The primary purpose for airdrop is for awareness. You would agree with me that the crypto space is already saturated with a lot of project. Introducing a new one for mass adoption would be a very serious task. Developer subscribe to the airdrop strategy to get people lured into the project.... creating a community of people who would run with their vision.
Another reason for airdrop is for fair distribution of token whereby all participants who believes in the vision can have a share of the bounties or goodies it has to offer because we are actually dealing with a decentralized system here where everyone have a say.
In addition to the points above, Airdrops are also organized by already established coin to appreciate their supporters who might not be privileged to participate in the initial coin offering since the project have been able to raise the capital it needs to start running.
Finally, airdrop is also an alternative means to allow people in countries where ICO's are banned have access to a token or coin.
And here is it... You know this post will be incomplete if I do not include this very section. Yeah! Like I mentioned earlier, airdrop do not require your money, it only require few things at your disposal to participate and be eligible. Let's check out some of these things.
• Crypto Wallet: you will be needing a wallet where the coin will be sent to for storage. The wallet you are to use here is the one you manage personally, not a custodial wallet handled by a their party. Most times, some project would require that you use specific kind of wallet for the token or coin to be distributed.
• Valid Email Address: valid email address are needed for airdrop. Of course an average person should have an email in this digital world. Your email will be needed to sign up as some airdrop would require it participant to. I also think it important and safe to have an email dedicated to just airdrop. Although most of the project we have today do not really request for email as the method used have now been enhanced.
• Social Media Accounts: You would need to put your social media to work by promoting the project in it before you can be eligible for the airdrop. You could be asked to tweet or retweet about it, share on your Facebook account and all manner of social media related activities.
• Complying to Deadlines: Airdrops are not forever, there is a stipulated time for registration. You have to do the needful before time elapse, once it does, that marks the end for such participants who is looking to benefit from the project. Once everything thing is in place, you're good to go.
Airdrops are some easy way to earn in this space, it doesn't require an initial investment, except for a little of your time and activeness in support the drive of the project.
I hope I will be privileged to look into frequently asked questions about airdrop in my next post. If not, I will leave you to do your homework, but so far, you should be able to make an informed decision from what you've learned so far.
I want to believe you've gotten so much from this piece. As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.
Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!
Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.
Regards
@lhorgic♥️
Reference
https://x.com/lhorgic1/status/1793381794013675614
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Regards,
@theentertainer
Hmm, notcoin is amazing I received 35000 $not.
Wao! This is beautiful... I hope you're currently on another project. I wish you another win brother.
Yes, I'm currently farming some other airdrops like tapswap, blum and memefi.
Am also on these three...I hope they turn out well. My fingers are crossed. I wish us both the very best. 👌