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Cryptocurrency Airdrops:
A Complete Guide

What is an Airdrop?

Airdrops are not drops of air, or your iPhone media sharing solution. Airdrops are events that give the holder of a certain cryptocurrency or a wallet, free coins. Yes, the company behind a crypto may decide, for reasons discussed below, to give away their tokens out to people around the world.

This is not a new thing, Airdrops have been around for a while now. With the first happening during the Ethereum ICOs. These Airdrops are normally done by new currencies on the block, or by old ones going through a hard-fork.

How do Crypto Airdrops work?

One way in which Airdrops are conducted is you go to the token currency's site and register for the Airdrop event. Doing this will make you a participant. You have to actively carry out tasks that they will tell you to do in order to receive free coins. They will ask you to 'low-key' promote their brand in exchange for free tokens.

The other way in which Airdrops are conducted is when the company behind a new coin starts delivering their tokens into the wallet of people who pass some prerequisite requirements set by the company. Mostly these prerequisite include that you hold a certain coin, are an active user of your wallet, hold a certain amount of that coin and/or any other criteria that the company feels is beneficial for their marketing. They will then deliver an amount of their coin, which is proportional to that of your wallet's balance.

Some cryptocurrencies might also choose a random sample from an existing blockchain and deliver their tokens into those random people's wallets.

Why are Airdrops done?

Why would anyone give you free cryptocurrency? What do the companies of a coin get out of this?

The answer is pretty simple, publicity.

There are new ICOs launching every day, and the developers behind a coin need a way to stand out from the crowd, so they innovatively make the use of Airdrops.

Airdrops are like an advertising campaign. The developers will announce Airdrops before hand and allow people to participate in them.

When you participate to get airdrops, the site will require you to have a Facebook or Twitter or a Telegram account. Your participation may require sharing news related to the cryptocurrency conducting the airdrop on social media and amongst friends. This will be then used as a factor for your criteria to get a fixed amount of free coins. And hence help spread awareness about the new token.

In the case of random airdrops, you find out that you have got some unknown tokens appearing in your wallet. When this happens,  the first thing you will do is check out what it is and what it does. In this way, you come to know the existence of such a crypto that you received.

Further, you will probably tell your friends and family or tweet about the spectacular surprise.

Also, since you got those free coins, and you like what you learned about them, you may decide to use those coins or invest on them.

All this will not only increase the cryptocurrency's publicity but also increase its value as people start showing interest on the altcoin in question. When this happens the company's Airdrop can be called to be a success.

So we can say that Airdrops are a win-win situation for both the company and the buyers. Where the buyers benefit with the satisfaction of free coins, and the developers feast on the rewards of a better market hold.

Are Airdrops a Scam in Crypto Industry?

In Simple Words, NO THEY ARE NOT.

This is a very frequent question that people ask regarding Airdrops. Most people become a little skeptical about the idea of free money. Mainly because it sounds too good to be true. But if you have read thus far, you should already be clear that airdrop is a real phenomenon.

Having said that, you should also keep in mind that not all airdrops can be trusted.

In other words, the Airdrop hype has given birth to few malicious sites that target new crypto investors and trick them into fraudulent schemes in the name of getting free coins.

It will be helpful to remember the following pointers while participating in an Airdrop.

  1. Keep in mind one thing: Airdrops are free. No authentic company promoting their currency will ask for any sort of money. So remember to never give any sort of token money or fees to any airdrop site requesting it.
  2. You probably already know by now the risk of giving your wallet's private key to anyone. But if you are new to cryptocurrency, always remember, don't give your private key to anyone in any situation. If the site has your private key, they can easily access your account and take away all your funds.
  3. Also, always participate in Airdrops from secured sites. That is; pages that have an 'https://' in front of the site. This ensures that your personal information will be safe on that site and no malicious software can attack your system.

How to Find the Latest Airdrops?

Most companies will do a formal press release of their ICOs where they will also announce their Airdrop events.

Or else you can follow this site to get track all the current and upcoming Airdrops in the market. We will be sending you latest airdrop alerts along with complete methods to join a particular airdrop.

By Following TrackAirdrop, you can easily start collecting free tokens or coins which can be worth 1000s of dollars, after all, who knows which coin may become the next big thing.

How to get Free Coins from an Airdrop?

You now have a fair idea of what an Airdrop is and why it exists. So let's get on to the interesting part. How you can get your hands on some of these free coins.

First, you will need an Ethereum wallet. Specifically, an ERC-20 token compatible wallet. This is because almost all the coins out there follow the ERC-20 compliance and ask for an ERC-20 wallet to airdrop.

You should also keep in mind that the wallet you give for the airdrop is one that you use often. That is, it should be an active wallet. In some cases, the developers may also look for a specific balance as criteria for you to receive an Airdrop.

Second, open a Telegram account and be active on other social media websites like Twitter and Facebook. Almost all the sites offering Airdrops will ask you to share their posts or like their pages on social media sites and discussion forums. In many cases, doing such tasks will be set as milestones that you need to pass to get more and more of the free coins.

Some will also ask you to invite others, as in your friends and family to the airdrop event. They will incentivize this by offering you extra coins with every person that joins using your referral code.

So yes, it's not completely free, you have to do a little advertising and click a few buttons to get yourself some coins. But these are very menial tasks that anyone can do if they have the will to do it. And many times, if the coin's market is promising, by just doing a few simple tasks, you find yourself on the better side of this sweet deal.

So keep an eye out for Airdrops. Cause it may start raining money anytime. Just remember to be cautious and always make sure you know what you are doing and what you are clicking. Now go out there and get yourself an airdrop from the list given above.