Cryptocurrency Airdrops

What is a cryptocurrency airdrop?

A cryptocurrency airdrop is a promotional stunt that involves sending a new Blockchain project cryptocurrency or token for free to designated wallet addresses of active members of the Blockchain community. The free coins or tokens are usually sent in exchange for some of the following services

  • Retweeting a post sent by the company issuing the currency
  • Posting about the cryptocurrency on a social media platform
  • Connecting with a specific member of the Blockchain project
  • Writing a blog post

The purpose of cryptocurrency airdrops

Cryptocurrency airdrops are typically sent by Blockchain-based startups to help boost a virtual currency project. Blockchain projects are about their project's user base, telegram followers, and social media activity. Below are some of the reasons why Blockchain-based projects opt for airdrops as a marketing strategy.

  • To help spread awareness about the cryptocurrency project
  • To get more people to trade the coin when it finally lists on an ICO, exchange or virtual coin offering
  • To promote their enterprise on social media especially Telegram
  • To gain more exposure to followers and exposure
  • To distribute tokens to more users and wallets
  • To impose their token’s spread and adoption
  • To make traders fall in love with their project

Are cryptocurrency airdrops profitable in 2020?

Cryptocurrency airdrops are profitable to both the coin producer and the wallet owners. Given how extreme the competition between crypto start-ups can be, crypto airdrops go a long way to market the virtual ecosystem. Marketing is essential for the success of a new cryptocurrency since a cryptocurrency is nothing if it is not widely adopted. When it comes to cryptocurrency airdrop profitability to airdrop hunters, it varies from one token to another. Some tokens even go up to $100+ within a few minutes. Therefore, airdrops can be a great source of extra income which some tokens giving up to $1000 a year and others $500 a month. Which is great considering it is free money and obviously more reliable than crypto gambling. To become a successful airdrop hunter, you will need a good wallet and an Airdrop Tasker. Also, you will need to ensure that you find the right airdrops and grab a maximum of good airdrops as soon as you can. However, you need to be careful because some cryptocurrency airdrops are pump and dump schemes designed by selfish people to make quick profits.