BUSINESS Understand crypto airdrop’s connection to cryptocurrency and how to make money from it
As people are searching about Crypto Airdrops on Google, we have done the research for you to make you understand the new term related to cryptocurrency.
of surprises. People have now been coming on Google to understand crypto airdrop. As the demand is high, we have decided to explain to you what crypto airdrops are and how they work.
Before we tell you about crypto airdrops, let us understand airdrop.
What is an airdrop?
Airdrop is an idea to keep someone engaged in a particular business. In games, we usually see a player gets a promotional giveaway, prompting him to keep playing. The same strategy is used in the current market by any new cryptocurrency exchanges.
What are crypto airdrops?
As game companies use airdrops strategy in games, blockchain-based services offer crypto airdrops under their marketing strategy plan.
For example, any cryptocurrency exchange like Binance or WaziX is planning to launch itself in the market. The platforms may also unveil their own digital currency. In the current market, WazirX has WazirX coin and Binance has Binace token.
Then they announce that those who come early on the platform will get X amount of that currency for free. However, they might ask you to register or share its updates on their social media accounts or perform other such tasks in return.
After completing the task, the platform transfers the promised amount to some lucky winners into their cryptocurrency wallets on the given date. These will be the same wallets where you store Bitcoin, Ethereum, or any crypto coins.
The companies may not offer you airdrop if the number of participant increase too much