What are crypto airdrops?

A​ ​crypto airdrop​ ​is​ ​when​ ​a​ ​blockchain project distribute​s free​ coins or​ tokens to​ ​the​ cryptocurrency ​community. Airdrops are commonly used as a marketing strategy for blockchain start-ups.

To​ ​receive airdrop tokens, you can just hold Bitcoin and wait for the free crypto to arrive in your wallet. Examples of these “holder airdrops” are Byteball, Stellar lumens and OmiseGo.

Generally, the​ ​format​ ​of​ ​these free cryptocurrencies​ ​usually looks like this:​ ​At​ ​a​ ​pre-announced​ ​time​ ​the​ ​project​ ​behind the​ ​event​ ​will​ ​take​ ​a​ ​”snapshot” ​of​ ​the​ ​blockchain,​ ​and​ ​anyone​ ​holding​ ​Ether or Bitcoin​ ​at​ ​that​ ​point​ ​will​ ​receive​ ​a certain number​ ​of​ ​free​ ​tokens.​ Additionally this can also be done on other blockchains, but Ethereum and Bitcoin are the most used for this airdrop format.

Currently the most common crypto airdrops require a few simple social media task. These ICO’s use an airdrop as a viral marketing technique. Example of this format is BRD and Bitsdaq airdrop.

The last one is called a candy giveaway, which is the Chinese synonym for airdrop.

Many cryptocurrency airdrops have a referral system in place, which allows your to earn more tokens.

A Hard fork is a less common, but well known way to get free crypto. At a certain block number, a chain hard fork’s in to two separate blockchains. When both chains get miner and community support you now have 2 separate coins! The most famous examples of this are Bitcoin Cash & Ethereum Classic.

Exclusive airdrops are hosted and managed by The China Hacks. If you are a blockchain start-up looking for help with your campaign, request an exclusive airdrop by Thechinahacks.com and you’ll surely get real users.

In Addition, crypto bounties are also a popular way to earn crypto. There is a bit more effort involved to become a bounty hunter. However, if you want to find out more on the differences between Airdrops and Bounties you can contact us