Why Airdrops in Crypto exist?
Airdrop is the word that we all know if we are in crypto and everyone wants to have the airdrop as much as they can or any project offer. We know that its a free money that projects for various reasons. One of the most popular reasons is advertisement and this is one way that helps them have bigger users just by doing the airdrop. Its not that only new projects do airdrop instead existing and successfully running projects are also doing airdrop and its like giving benefits to the community.
We have seen splinterlands airdrop and its surely a way to reward the community. Next is going to be the threespeak and Ragnarok game which will be rewarding users. 3speak is not a new name on the blockchain but they are going to reward the users on the chain and since this community airdrop so this will happen based on token holding.
What is Airdrop?
In simple, we can say that its a way to promote the project and bring userbase to the project. Every project allocates some budget for promotion and these funds are used to airdrop new users with certain conditions. Its obvious that not every airdrop is a success and to be honest that I never got lucky with airdrop. Either I did not get tokens or if I got then tokens have no value in the market. I am not talking about splinterlands airdrop because this is a different case. There are numerous telegram groups and Twitter accounts that keep on sharing so many airdrops but I believe that most of them are waste of time.
The primary reason for organizing a crypto airdrop is to promote a blockchain startup, project, or service. By issuing tokens to users, the team can bootstrap its project and ensure a fair distribution of tokens among its community from day one
How Airdrop helps a project
Airdrop certainly helps the project to get more attention and this way project gets a big user base in the early days which works in favour of it. If any project is strong and built with a long-term goal then it surely helps to grow the project. Its a part of marketing and promotion for the project and users its a way to earn free money. Usually when an existing project does the airdrop then the value is high and there have many names in the list who have done similar airdrops.
How to Stay safe with Airdrops?
There are so many scammers roaming around who may scam you if you share your data and its highly recommended not to share the sensitive data on any link. I only trust the projects I know and I don't share my information with unknown sites. I am ok if I don't get any airdrop and don't get free money but I am not okay if I lose my funds because of scammers. So we need to be careful when we perform any task where we are not sure of the project and the people behind it.
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I am not saying that airdrop is not good in fact I would love to have more airdrops but I surely want to be careful and I take the precaution to stay away from scammers. I never paid for any airdrop and will never do because if any airdrop asks for the money then for sure its a fake and I would suggest staying away.
Thank you so much
Stay Safe
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Cryptocurrency airdrops have been in existence ever since 2014 and the initiative doesn't appear to be fading away anytime soon. This is so because it has more advantages to both the host and hunters than disadvantages.
Airdrops which I often call crypto giveaways have proven to be a good and cheap marketing strategy over the years for crypto projects. While it helps new projects announce their brands, it also serves as an opportunity for participants to earn at different levels depending on the quality/ adoption of the said project.
Asides marketing, there are different reasons why airdrops are being done. We also have different types of airdrops. However, it is important that we play very safe when dealing with airdrops as things could go south if wisdom is not applied.
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