The New Crypto Gold Rush: What’s All the Fuss About Airdrops?
Today, marketing campaigns are used everywhere and cryptocurrency is no exception. The Airdrop system is designed specifically to promote new projects that have just appeared on the market.
What are airdrops?
In the cryptocurrency space, the term airdrop is one of the main marketing strategies, aiming to attract new investors. It represents a distribution of a cryptocurrency, usually for free, to a large number of wallets.
Crypto airdrops are an advertising campaign aimed at increasing the visibility and reach of a new project. It allows users who already have some crypto tokens or coins to receive free tokens or coins. For example, owners of even 0.004 BTC of one cryptocurrency can become owners of tokens of all forks of that project. But there are also other giveaway offers, such as a simple registration on the platform or in the app.
For the most part, airdrops are typically used by startups looking to kick-start their crypto projects. An airdrop involves the transfer of a particular amount of crypto transferred to your wallet as a reward for participating in a particular event, competition, or sweepstakes of some sort. I know, crazy right? Crypto just magically appears in your account without investing. Psst and we are hosting an Airdrop now, just check it down below.
These free tokens have great value for their owners, which greatly extends the life of the new coin. They also go public quickly and increase in value on the general market.
Unlike ICOs, where tokens are sold at discounted prices after the whitepaper is opened and presented,an Airdrop provides tokens on the most favorable terms - for free!
How do airdrops work?
Airdrops can take place in many different ways. The most common method is to add free tokens to a user's wallet for performing various tasks, such as registering an email address or posting to social networks. Here are some types of airdrops:
As part of the bounty, users have to complete a certain task in exchange for free coins. For example, write on Twitter about a new project or publish a post on Instagram and tag their friends in this post. This is done to raise awareness about the project: the more people know about it, the better for the developers.
Sign Up Airdrop
This type of airdrop requires users to subscribe to a newsletter or register on the project website in exchange for tokens.
These airdrops are intended exclusively for certain groups of users, such as loyal users of a particular community, website, or project.
A hardfork is a cryptocurrency code change in which compatibility with an older version of the blockchain is lost. A fairly well-known example of a hardfork airdrop is Bitcoin Cash (BCH). The Bitcoin blockchain hardfork took place in 2017, and users who already had bitcoin received an equal amount of BCH in their wallets.
Are airdrops profitable?
Airdrops are extremely relevant for all newcomers who are just starting in the industry and want to explore crypto more. Before participating, we strongly recommend that you study the company, project, conditions, and weigh your chances of earning a reward.
If you have time and enthusiasm, you might want to consider participating in airdrops. They may not be the primary means of earning money, but they can be a good additional source of profit for crypto players. This, of course, will require constant monitoring of specialized resources, but airdrops targeting cryptocurrency holders are, in fact, abundant. The flip side of the coin is that it is among such ‘drops’ that the concentration of fraudsters is highest. That’s why, when stepping on this path, you need to be extremely careful and keep track of your every move.
The only thing you should not forget when trying to use airdrops is that airdrops do not require a financial investment, but you will have to invest a different kind of resource in it - your data, and time. The potential profitability of such a way of earning has to be judged by each individual based on whether the resulting ROI is worth the time spent on it.
The NAGAX Airdrop
Don’t miss out on our exclusive airdrop happening now! Five lucky crypto-heads will win $1,000 USDT by simply signing up for the NAGAX platform.
Steps to Registering for the Airdrop
- Register for the whitelist on nagax.com/whitelist
- Follow our Twitter and Telegram channels
- Make sure you received an automated email with your unique NAGAX ID
- Go to this Google Form and fill it in with the email you registered at NAGAX, your ID, Telegram, and Twitter nicknames
For more information on the NAGAX airdrop be sure to check it out here.
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