Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,120 trillion. Bitcoin is up by nearly 4% in comparison with last Sunday. Ethereum lost 2% in value over the week. XRP is down by roughly 4% after a troublesome week. Most altcoins, except Avalanche, have traded in the red for most of the week. The DeFi sector gained almost $1.4 billion from the…
What is an Airdrop?
Literally, and based on historical use, an airdrop is a tactic by which crates of food and essential supplies are dropped via airplane to people in need. It was done so during times of war and famine, and shortage. In the old days, when one saw soldiers dropping crates of food/supplies, etc., it was basically an airdrop from planes.
When it comes to cryptocurrencies, the term has retained almost all of its meaning. According to Wikipedia, an airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented to gain attention and new followers, resulting in a larger user-base and a wider disbursement of coins.
An airdrop is more or less an avenue of earning free money. As such, crypto participants are always ecstatic whenever they find channels availing airdrops, particularly if they are legitimate. While this is a given, the airdrop marketing mechanism has become one of the most used fraud schemes for crypto scammers. Therefore, it is imperative to carry out due diligence before opting to partake in free token distribution programs.
Why are AirDrops Attractive?
According to research done by BlockGeeks, there are about 7 advantages of an airdrop in the cryptocurrency sector. They are:
- Generating Awareness
- Understanding the users
- Raising Funds
- Rewarding or Inspiring Loyalty
- Wider Distribution of Tokens
- Hard Forks
- Airdrops are an easy and zero-cost marketing mechanism from blockchain projects.
In light of this, we present an extensive review of the crypto airdrop niche, highlighting viable airdrop channels to help you navigate this tricky landscape. We will also introduce you to the integral factors that should guide your research on the best cryptocurrency airdrop channels and websites.
The FreeCoins24.io platform is a leading crypto airdrop website. The website retains its reputation due to the diversity of categories available and legitimate project listings. This website allows users to sort out the newest and most popular free tokens. The platform is a user-friendly website where you can assort free token airdrops according to their status, category, and rating. This website rates tokens, taking into account four factors: product health, team, website, and whitepaper.
Airdrop Alert offers its users a platform to monitor upcoming, active, and past airdrops in three lists. By clicking on any token listing shown on the website, the users can get all the information. The resources include all the necessary information: what the benefits are, how to join, how much you get, and more. To go a step further, the creators developed BountiesAlert, too, to monitor upcoming crypto bounties.
Airdrops.live is a young airdrop website that features a very long free token list. This website is worth mentioning because it has a simple interface, allowing future airdrop participants to see all the latest airdrops, the rewards they offer, their requirements, and more.
AirdropsMob lists new, active, holder, fork, and closed airdrops. According to a headline on this website, you can withdraw your airdrops on top cryptocurrency exchanges such as Binance, KuCoin, Coinbase, HitBTC, Poloniex, and more.
This crypto website has a useful search bar that allows filtering coins following the token company’s requirements.
Reddit – r/CryptoAirDrop
One of the best and most trustable collections of airdrops is the Reddit sub r/CryptoAirDrop. The sub is a community-curated list of all upcoming airdrops in the token market. Users who personally check the airdrops upvote or downvote the listing based on its legitimacy. Another advantage is that Reddit users can discuss the legitimacy of the airdrop, its future, and so on.
Airdrops are a way of getting cryptocurrency for free or by performing small tasks. Therefore, you should always check multiple sources and only get into airdrops that you think have value in the future. Don’t forget to visit our Airdrops page!