Crypto airdrop: the new form of ICOs?
2017 May be the year of the ICO's. Before 2017 almost nobody knew exactly what the word meant, but in the meantime this year no less than 3.6 billion (!) Dollars were raised thanks to this form of financing. Good earnings from ICOs are becoming increasingly difficult, so it is important to look for the new trend and that seems to be the crypto airdrop. In a relatively simple way you can get a free new crypto coin.
ICO hype over?
The ICO hype seems to have ended completely. In November, according to TokenData, less than 20% of ICOs achieved their target. Because of crypto coins such as Bancor, whose value of the currency has fallen dramatically after the ICO and Tezos, which at the moment seem unable to get their money raised, people have become somewhat suspicious. For founders of a new crypto coin the ICO was a nice tool to get their cryptocoin under the spotlight. Now that this is no longer so easy, they start looking for another way: the crypto airdrop.
"The endowment effect means that someone attaches more value to something that he owns, purely because he owns it."
This means that people who own a certain token attach more value to the token than if they did not have the token in their possession. Free giving your tokens means that you are building an entire community that will appreciate your token more, which is essential if you want to succeed as crypto-startup.
Often such a crypto airdrop is kept in the early days of the crypto coin, but it can sometimes happen that founders choose to reward their existing community for trust in their currency.
How does an airdrop work?
Every airdrop comes with its own rules. Often you have to become a member of their Telegram group with a new crypto project, spread a Twitter message and like a Facebook page. You also need to enter the wallet address on which you want to receive the tokens
Most airdrops come from projects that are built on the Ethereum platform. This means that ERC20 tokens are issued. You can receive this on a wallet like MyEtherWallet or MyCrypto.
With existing projects you must already have the coins on a wallet to be entitled to it. This is often the own official wallet. Sometimes exchanges also support an airdrop.
In short, always read the instructions and conditions carefully for each airdrop.
Does it pay off to participate in an airdrop?
Often it takes no more than five minutes to register for an airdrop. A small effort, since some airdrops can be very lucrative. For example, the 10,000 BLUE tokens that you could get in October 2017 were worth $ 20,000 three months later.
Of course it is not always such a big party. $ 200 per month can however be achieved with regular participations in airdrops.
Where do you find airdrops?
The announcement of airdrops can be found in numerous crypto channels. On Twitter you can find them by searching on #airdrop #freetokens #freecrypto and many more.
Many airdrop urls are posted with a referral link. When you register via this link, the poster gets a small bonus. It is customary to follow this referral link as a thank you to the finder of the airdrop.
HAPPY AIRDROP HUNTING !!