What is an Airdrop?
You may be thinking of the famous Apple application? The resemblance is striking. But in the world of cryptocurrency, it’s not the same thing at all. So you’re probably wondering what an Airdrop is. The events we are going to talk about are regular and very numerous. Come and discover or rediscover the Airdrops, these free and punctual distributions of tokens.
Airdrop, a simple idea and free of charge
An Airdrop is simply a free distribution of tokens. The event often takes place over a short period of time. At the initiative of an Airdrop are usually the creators of a cryptocurrency, whatever it is. But « free » is not quite the word. This possible sudden godsend requires, of course, compensations that we will discuss in the following article.
Be very careful before starting an Airdrop
Before going any further into the world of Airdrops, let’s remind you of the safety rules that must be followed ABSOLUTELY. As you can imagine, as soon as there is money at stake, some freeloaders show up to abuse others and take money from them:
So if you want to get started:
- Create an email address that you only use for Airdrops
- Be very careful when downloading a wallet or an application, as they can be infected
- Do not use any of your usual passwords
- NEVER pay money.
- NEVER give out your private key of a platform, Ethereum for example.
- Do not download any file.
- Never send cryptocurrency in order to receive more.
Are you being asked to perform one of the last 4 actions listed above? Run away, it’s probably a scam!
What is the point of an Airdrop if everything is free?
Now that you’re clear about your security and the safety of your money, you’re probably wondering what the point of an Airdrop is, especially if it’s free.
An Airdrop is like an ad for a crypto
When a new product arrives on the vast consumer market, it needs to make itself known and find its place, to be bought of course.
So, as you can see, an Airdrop is like an advertisement. While some creators of a cryptocurrency prefer ICOs (Initial Coin Offering), others prefer Airdrops, or even a combination of both to make their cryptocurrency known and grow.
But Airdrop goes further
It’s not just a matter of being thrown into the virtual deep end because every crypto-currency needs, above all, its community to exist and grow. The example of Dogecoin is the most representative: without its community, this crypto-currency, originally conceived as a joke, would probably not have survived. Beyond an advertisement, the Airdrop can be seen as a kind of springboard that will encourage users to use the network and/or reward people who have supported the project since the beginning. For the designers, the low starting value of their virtual currency allows them to distribute a part of it almost for free.
What does an Airdrop bring to the user?
In the end it’s a win/win operation. Everything will be based on the development team and the growth potential of the token. On your side you will have taken a little of your time, but you will not have spent anything and you can benefit from it.
And what are the conditions of an Airdrop?
To access and benefit from these Airdrops, as we told you at the beginning of this article, you will necessarily be required to fill in a few forms, to click around and to be active on social networks. But you will have to register on a site that will store your tokens, like MyEtherWallet, for example.
You will also be asked to:
- Do various actions like following a Telegram group or a Twitter account
- Watch a video
- Download an application (be careful to check that it does not contain a virus)
- Fill in a form…
All these activities vary between Airdrops but are always specified.
Where to find a current Airdrop?
Social networks are overflowing with ongoing or upcoming Airdrops, with Telegram remaining the most active on the subject. The CoinMarketCap website also lists a good number of token distribution events.
Animals lovers: Simba’s and FunnyBirds’ Airdrops
If in addition to your cravings to play with cryptocurrencies, you are a fan of animals, you should know that they are very successful with the emergence of NFTs. You are undoubtedly familiar with Dogecoin, the cryptocurrency with a dog’s head that billionaire Elon Musk keeps promoting. This currency is one of the top 5 virtual currencies, but above all it has the gift of triggering a fashion phenomenon on the side of our animal friends. What could be better than small virtual animals to attract fans and build a strong community?
Simba Finance and its Airdrop, the case to watch out
It is with this in mind that 2 Airdrops were created, particularly on Twitter. Simba Finance arrived on the social network on May 5th and launched its Airdrop on May 25th. It’s hard to know if the lion cub from the famous Disney animated movie « The Lion King », with his good looks and his purple eyes will have the wind in his sails, but SIM deserves a little attention.
Will FunnyBirdNFT fly with its own wings?
Along the same lines, but completely focused on NFTs, FunnyBirds appeared, also on Twitter and Telegram last April. The Airdrop started yesterday, May 31. The number of subscribers to the account skyrocketed in a few hours. Will it go down like a lead balloon or will it take off?
Airdrops are not new. But they have suffered from scams that have made a lot of money for a few sly guys and that have damaged their reputation. Today, they are still numerous but more spaced out. Would Smartdrops, which would allow to better target users and distribute more tokens to fewer people, be a more reliable alternative? Nevertheless, if you remain cautious and follow the right advice, Airdrops remain a good way to fill your wallet with some small efforts and especially with fun.