Cryptocurrency airdrops are one of the most popular ways of distributing free tokens to the digital investment community. Most cryptocurrency exchanges announce weeks or months in advance when such an event would occur so that their users can prepare for it.
In order to better illustrate this happening, we are going to ask readers to imagine that they a Bitcoin would appear unexpectedly in their trading account just when the average Bitcoin value was approaching its highest peak, recorded up until the present moment.
The exact date at which a crypto airdrop is going to happen is preset so that every person that wants to get a hold of a free token can be online at this exact moment. When bigger Altcoins do this, thousands even take a day off of work or from their studies.
Everybody loves receiving things for free and in crypto trading terms this would mean that users would already be in a more favorable position, even if they lose a particular investment. They didn’t have to purchase or do anything for the tokens in the first place.
This would also give them a head start before adversaries, especially if the latter are unexperienced crypto traders. But cryptocurrency investments are not about beating the competitions, they are about smart market capitalization.
There is one more crucial thing which should be noted about Altcoin airdrops – they are most often dropped by smaller and newly-established cryptocurrency exchanges or even startups that wish to boost their popularity and the value of the given coin.
What are the Conditions for Taking Part in a Crypto Airdrop?
Most crypto airdrop releases have only one existing precondition for users – that they have an existing e-Wallet and a given amount of Altcoins from the particular type whose tokes are about to be distributed freely.
Of course, there are also Byteball, Stellar lumens, and OmiseGo who do not ask users to do anything else than prove that they have owned some Ethers or Bitcoins at a particular snapshot (time) of the blockchain.
Smaller airdrops are also known to occur. They are most often announced on a given social media or cryptocurrency trading forum. The latter send email newsletters to their users, informing them that the said event is going to occur.
Users can sign-up for this by subscribing. It does not take anything more than the typing in of the client’s email, telegram, social media account, telephone number, and an e-Wallet address. Newly-established crypto projects usually disperse tokens this way as a type of marketing or promotional campaign.
Which are the Recommended Crypto Wallets?
Since most of the coin airdrops occur on the Bitcoin or Ethereum-based blockchains, all that the user has to do is set-up an account with a reliable and legit cryptocurrency exchange that handles any of the said. It should be noted, however, that it is not uncommon for particular platforms to ask users to open a specific type of e-Wallet.
Clients have to consult themselves with the customer support or a representative of the particular digital exchange in order to make sure that they have opened the right crypto wallet. They should experience no further problems in acquiring their tokens.
Some crypto exchange websites even let people take advantage of crypto airdrops if they have non-exchange wallets. There are many reputable e-Wallets that one can open in exchange for a small fee. Users can do a little bit of research and pick the perfect one for them.
The most important thing that one has to take into account when doing so are the implemented security measures. Nobody wants a third party to have access to his digital or fiat funds. Most of the crypto wallets, however, are completely reliable and safe.
Are the Free Cryptocurrency Tokens Worthless?
A common English saying that there are no free lunches. This might be true in most other cases but not the present one. The Byteball cryptocurrency exchange has a tradition of disposing of Bitcoin airdrops every month.
Some might speculate for the reasons for this but the average Altcoin price of this particular crypto exchange platform sky-rockets after every such launch. There is no reason to speculate and look for a needle in a haystack when there is none to find.
Why Do Crypto Exchanges Give Away Free Tokens?
We have already mentioned some of the main reasons why the different cryptocurrency exchanges usually give Altcoin airdrops to users. Some use them as a marketing campaign, while for others this is a way of rewarding their loyal user database.
Let’s outline the main rationales for cryptocurrency exchanges to do this:
- Crypto Treats for Loyal Users: Tokens are often issued by established and well-respected cryptocurrency exchange platforms to show gratification to their loyal users for the ongoing support. The said members feel that they are appreciated and accounted for, taking advantage of all the wonderful crypto trading opportunities that open up before them.
- Raise Popularity or Funds for a New Cryptocurrency: Every new coin or crypto investment exchange needs to gather enough popularity and funding in order to enter the market. Some prefer to engage in fund-raising campaigns, while others simply make an ICO. But in order for either of these two to happen, the general public needs to know what the given cryptocurrency exchange platform has to offer. This is what crypto airdrops serve for.
- Attract New Crypto Miners or Traders: The free giving away of tokens increases the awareness levels of users. People are way more likely to get started with a cryptocurrency or an exchange platform if they have already heard its name. Established names in the crypto business can also make digital monetary airdrops to draw in new clients.
Cryptocurrency Airdrops – Get Them When They are Up for Grabs!
Crypto airdrops are a great way to learn about a newly-established or launched cryptocurrency or digital exchange. They can give users a head start before others just at the right moment. This is why it is crucial for one to keep track of such events and try and take advantage of them.
Make sure to keep yourself informed about the future free token releases and go after the surprise ones. It is also important for users to keep themselves secure from cryptocurrency scams. They should know that the legit blockchain or cryptocurrency projects will never ask for any other personal data other than the public address of the crypto wallet.
Stay safe from crypto scams and remember to trade cryptocurrencies smartly!
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