You have probably seen crypto airdrops lately because they are popping up everywhere. It cannot be denied that they are one of the most popular trends in the crypto world right now. But lots of you still may ask ‘what the heck are these airdrops?’ Cryptocurrency airdrops are free coins. That’s it, simple as that.
To learn more about airdrops firstly we must know what kind of airdrops are there. Crypto airdrops can be divided into three groups: holder airdrops, forked airdrops, and bounty airdrops.
Most of these blockchain projects are built on bigger and more popular blockchains ie. Ethereum. More than 90% of airdrops today are built on the Ethereum blockchain. Projects are rarely built on NEO and Stellar. In order to participate in this type of airdrop, all you need to do is to “hodl” that main cryptocurrency and you will be dropped with the new one.
Sometimes when a blockchain is divided, from that point of time there are 2 different blockchains ie. forks. In this kind of airdrop if you are holding cryptocurrencies from the original chain you will be dropped with the currencies from the new chain in a proportional ratio.
These kind of airdrops are the most popular today. In order to participate in most cases, you will need to do some social tasks or to register for the website. And since lots of them are built on Ethereum you will need to submit your erc20 compatible wallet address. Social tasks include joining project Telegram groups, following Twitter profiles or liking Facebook pages.
Why are they giving free tokens? Where is the catch?
Airdrops are a great way of promoting the new blockchain project and to increase awareness on
