How To Make Money On Cryptocurrency Airdrop

The popularity of cryptocurrency has become the emergence of hundreds of blockchain companies that have created several thousand tokens. How to stand out against other coins, as each company confidently declares their project's relevance and innovativeness? To promote a coin, developers are forced to engage in marketing and advertising and promote blockchain products; you need an airdrop. 

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What Is Airdrop?

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So, what is an airdrop? In the cryptosphere, an airdrop is the blockchain-company distribution of free tokens to users in exchange for fulfilling simple conditions. In general, airdrop in cryptocurrency is conducted by new and little-known companies trying to draw attention to a new product.

Airdrop edit is an effective way to advertise because users provide companies with virtually free “viral marketing.” The purposes of the airdrop are:

- The popularization of a new cryptocurrency - free distribution of tokens allows you to quickly increase the number of community members of a certain cryptocurrency. Often, the airdrop is arranged in the fork case, which occurs when developers decide to improve cryptocurrency technology. Therefore, the owners of the "old" coins are often interested in the one created with the fork.

- Formation of the network - at the very beginning of cryptocurrency creation, developers are faced with a significant problem - the lack of a full-fledged decentralized network, which consists of operational nodes participating in the confirmation of transactions. Airdrop attracts professionals capable of improving the network. When the coin just appeared, the reward for network maintenance is worthy.

- Creating a database of potential customers - usually, when you turn on airdrop, you need to fill out a form in which the user must provide their personal data. This information is precious in marketing, as it helps the company develop a sales strategy and develop the company in general.

- Encouraging users who have already joined the community - sometimes companies arrange airdrop from iPhone to Mac or other ways to encourage active users or return customers who have stopped using the services. The main requirement is a cryptocurrency on the account (if you would like to know more about this, go here).

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Types Of Airdrop Programs

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What is airdrop according to its type? Depending on the process, there are two types of airdrop:

- automatic;

- promotional.

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Automatic Airdrop

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What is airdrop in its automatic feature? An automatic airdrop is often used to form a community after holding a hard fork's coin. The main condition for this is a certain cryptocurrency on the account (the usual one based on which a hard fork was made). Simultaneously, coins of the newly created cryptocurrency are distributed in proportion to the number of coins of the original cryptocurrency, which is on the holder's wallet. Sometimes a certain amount of coins is required on the user's wallet.

Tokens are distributed to holders of third-party cryptocurrencies, sometimes with similar technology. For example, Stellar conducted an airdrop for Bitcoin holders. Because most of the new coins are based on Ethereum, many companies spend airdrops for Ether holders.

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Promotional Airdrop

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What is airdrop as a way of advertising? This is the kind of airdrop that everyone can participate in. The bottom line is to distribute tokens to users who help promote the project. However, developers are not interested in handing out coins to everyone, most of whom take tokens and go into the shadows - they want to get advertising services for this.

Conditions are available to any computer and Internet owner; there is even a Mac airdrop. For example, reposts in social networks, adding to the group, and so on. Developers pay for word of mouth. Although, in fact, they pay with air because new coins do not have much demand and may not enter the market at all. 

Nevertheless, many people get real profit from this, so why shouldn’t you join them? 

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Author Bio

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Thomas Glare is an investment analyst with a rich erudition, never forgetting about the fundamentals and the basis. As a result, he skillfully combines the posts of macroeconomic and market subjects, and there he relies on mathematics and statistics. He pays much attention to cryptocurrency trends, willingly discusses them with readers. Actually, the controversy in financial blogs is sometimes more valuable than content.