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[Airdrop Cryptocurrency] All You Need To Know About Earning Free Cryptocurrency

AirDrop Cryptocurrency

AIRDROP CRYPTOCURRENCY

I love the name 'Airdrop' and my love for this word reached new heights the time it got associated with cryptocurrency.Before writing this article I did some experiment.I went to some people in malls and restaurants and asked them few questions.You will not believe the response I received.

What is Airdrop?
What is Airdrop meaning?
What is Airdrop Cryptocurrency?
What is Airdrop in Cryptocurrency?

I asked these four questions randomly to get a clear idea about people's understanding of this term.Before moving further I would literally love to know your guesses? Can you Guys, tell me that what would have been the response of most of the individuals I approached.One thing I will definitely love to disclose and it's very simple.Any Guess?
Boys performance were way ahead as compared to girls when it comes to the above questionnaire.

We will talk about the outcome of the questionnaire later.
Let's begin...

[What is AirDrop Cryptocurrency?]

airdrop cryptocurrency meaning

The phenomenon of distributing free coins or tokens by any blockchain projects to cryptocurrency community.You may be wondering that there can be hidden clause to take advantage of such opportunity.Yes, of course, there is a prerequisite being the recipient of the coins.You need to have the coins in your wallet from the relevant blockchain to be eligible for cryptocurrency airdrop.
Let's make it simple.In case you want to be eligible for airdrop for Stellar lumens, OmiseGo then you need to prove that you were the owner of bitcoins or ethereums at some point in time.You can prove it by taking the snapshot of the relative blockchains.Guys, please do correct me if you feel I have written something wrong or my knowledge about the topic is not up to the mark.


[Which are the most used coins for cryptocurrency AirDrop?]

A very easy guess indeed.Yes! you are right.Bitcoin and Ethereum are the two most used cryptocurrencies for airdrop format.

[What is the logic behind the airdrop cryptocurrency?]

While I was planning to pen down this post on Airdrop cryptocurrency I was struggling with a query and I hope most of you would have definitely gone through that thought process.
"Why the companies are giving free cryptocurrencies?".

You can sure give a logical answer to it right away but when I did some research then I found out that it has to do more with customers psychology than merely a marketing campaign.Isn't it something shocking?Are we really prepared for this kind of marketing tips?

airdrop cryptocurrency psychological effect

These companies are working on the concept of the endowment effect.As per the endowment effect any individual ascribe more value to the thing they own as compared to the things that they don't own.
Now let's understand it with an example based on a hypothetical scenario.
In this scenario-based example, our main character is David.He is a doctor by profession and a trader by passion.Though he is very passionate about cryptocurrency trading and even exchange lots of emails with his colleagues on this topic he is a bit confused when it comes to the selection of cryptocurrencies for short-term and long-term.Every other day some or other coin is entering the cryptocurrency market with eye-catching promotions and claims.When it comes to taking a decision it sometimes really becomes hard even for the best of the best traders.
Johnny a close friend of David told him about cryptocurrency airdrop and David filled the form to be a  part of the airdrop.Fortunately, he got some tokens in the airdrop.Now here comes the psychological tricks used by these coin companies.David was not aware of these coins so he started reading about it and he also started conveying the message to his friends about'how he got some tokens in airdrop and his friends can also get it'.Now he was a star in his small friend circle and most of his friends started to have a perception that he is someone to take advice when it comes to cryptocurrency airdrop.In short, you can say David played a crucial role in word of mouth publicity for that particular coin.There were instances when he even acted as an influencer for his colleagues and friends and he was even successful in convincing them to buy the coin which David got through cryptocurrency airdrop.

Now understand the same scenario from the company perspective.To launch a new coin in the market they need to invest a lot on the promotion part.There are many options for promotion available in the market like email marketing, facebook campaign, billboards, TV advertisement etc.Can you guess what will happen in most of these cases?Customers may buy coins and may not.Evan though they buy they will not be seen as an influencer for that coin.They will not be treated as someone who knows a lot about that particular coin.These customers may or may not get involved in word of mouth publicity.Last but not the least the campaign and other marketing activities may or may not be successful.

But if the company gives free coins or tokens by a process called Airdrop cryptocurrency then you can understand the rest of the part very well.There is a high probability that the individual will do almost the same thing as David did.

Always remember the campaign or marketing activities which have emotional quotient attached to it has a high success rate quotient attached to it.


                        It's all in the mind.


                           [What is the procedure involved in cryptocurrency airdrop?]

The new projects which are using cryptocurrency airdrop as an aggressive instrument for their promotions will follow a very simple step.

  •  Contact their team member using bitcointalk forum.
  • You need to submit your credentials as per their requisite.Mostly they ask for your wallet address, telegram, twitter and of course email.
Some cryptocurrency promotional websites, casino's and even wallets use a different version of airdrop to increase engagement, loyalty, brand recall, and marketing.It is called 'Faucet'.Here you will not get coins or tokens for one time rather you will be getting a small number of coins/tokens for a longer period.

When it comes to the well-established players in cryptocurrency domain they follow an entirely different procedure.It's more like a lottery and totally depends on your luck.At a pre-defined time, the project who wants to reward their customer for loyalty will take a snapshot of the blockchain and anyone holding bitcoin/ethereum at that particular time will receive some free tokens/coins.To my understanding of cryptocurrency airdrop, it may be one of the ways to increase the engagement also.


[What are some of the recent cryptocurrency airdrops?]

  • Byteball distributed free coins to bitcoin holders.
  • OmiseGo distributed free tokens to ethereum holders.
  • eBTC airdropped 2500 eBTC token per applicant.
In coming days I think most of the coin's launch will have cryptocurrency airdrop for sure.Trust me guys, it really makes the work easier for them.They don't need to invest in social media marketing.Those who will get the free tokens will be actively participating in a discussion on various social platforms.Going a step ahead few of them will even start giving advice leading to the most trusted marketing quotient 'word of mouth'.There are so many coins listed on coinmarketcap.I hope the numbers are in thousand.The individuals benefited from airdrop will definitely check for the status of the coin in the marketplace.In case the coin is doing good then they will share it with their family and friends leading to curiosity and demands.

If you start thinking you can easily list down many more benefits for cryptocurrency airdrop.

It's definitely a smart way to promote the coin and the ICO.

This topic is more of a discussion and I am really looking forward to your views and suggestions.

             [ Where can I get information about airdrop cryptocurrency?]

There are many websites which offer information regarding the airdrops and the terms and conditions associated with it.Some websites also guide the newcomers about the recent cryptocurrency airdrop.
I will recommend these websites which according to me are NOT a scam.Please be careful in giving any information asked by the websites in the name of either ICO or cryptocurrency Airdrop.

cryptocurrency airdrop tweet

                                   [What wallet do I need for cryptocurrency Airdrop?]

cryptocurrency airdrop wallet

  • Ledger Nano S
  • Trezor
  • Exodus
  • Coinbase
  • KeepKey
  • Jaxx
I will request you to be careful and never give the private key to your wallet and never download the wallet of an unknown project.

                                        Play Safe Play Harder.

So coming back to the starting of this post.I left the talk in the middle regarding the survey.Most of the person whom I interacted were really aware of the word 'Airdrop'.If we talk in terms of percentage then it will be 90 percent and above.Again for my next question, the response was good if I have to accept the meaning of airdrop as 'act of dropping troops' etc.A very few answered it in respect of cryptocurrency.For the third and the last question only a 13 percent of the total survey sample replied correctly and out of these 13 percent around 11.97 percent were men.
I hope you are now aware of the outcome of my survey.It was really fun and I am planning to come with some surveys on the blog also.

Conclusion: I believe in the old phrase 'something is better than nothing'.I will always advise you to participate in cryptocurrency airdrop but be aware of the fake websites and promises.To make it more promising always check the social platform of the upcoming airdrop and see whether they have any link to the website on their social handlers like twitter, facebook etc.If they have shared the link then click the link and navigate to the website to check the genuineness of the website and the claims made by the project.

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