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Airdrops: A Win-win Solution for Both Blockchain Startups and Crypto Enthusiasts

31 May 21

Wondering how to get tokens for free? Many crypto enthusiasts are hunting for Airdrops where they receive a new virtual currency to their wallet address, simply by being an active member of the blockchain community, or holding specific tokens for a period of time.

Since 2017 in the crypto world, there are countless projects using Airdrops as a marketing strategy that triggers faster adoption. Take for an example, Bitcoin holders who once received a 1:1 bonus airdrop of Bitcoin Cash, as a result of a hard fork in 2017.

How Airdrops Work

Forums, Telegram groups and cryptocurrency websites are good sources for finding upcoming airdrops. To qualify for getting the free tokens, a recipient may have to hold a minimum quantity of the crypto coins in their own digital wallet. The recipient may also need to perform a certain task, such as posting about the project on social media, or recruiting more members for the blockchain project.

Generally, airdrops are a harmless marketing tool geared as community incentives to benefit its early supporters. While it may seem like a penny today, it could be worth a fortune to the recipient in the future, especially if the project is promising. No one can resist some sort of investment/speculation without laying out any money.

However, be careful of phishing websites, mistaken wallet addresses, and make sure that you never send funds in order to receive an airdrop. Remember, legitimate crypto airdrops will never seek capital investment in the currency. It’s simply aiming for a marketing purpose.

Why Companies Want to Do Airdrops

From a crypto company standpoint, airdrops are seen as a means of rewarding loyal users. By sending airdropped tokens, their token will get more attention and awareness in the cluttered cryptocurrency space. Spreading awareness is the main reason why blockchain startups conduct airdrops. The recipients (aka the crypto enthusiasts who now own some of the tokens) will also “promote” the project in order to pump the price of the tokens. It’s like hiring free ambassadors!

Not only does this have the potential to make the project’s price rise, but it could also attract new investors to the startup. Airdrops can generate buzz, and eventually catch the eyes of big investors who are always looking for the next big thing.

For upcoming WadzPay airdrops, be sure to follow www.wadzpay.com’s social media accounts.

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