Unveiling the "Airdrop Frenzy": From Free Airdrops to Million-Dollar Treasures, How to Play This Feast of Digital Wealth?

In the field of digital currency, token airdrops are a unique marketing strategy aimed at promoting new cryptocurrencies or DeFi protocols. This strategy increases public awareness and acceptance of cryptocurrencies by sending small or free new tokens to digital wallets.

The value of airdrops can range from a negligible fraction of a cent to a jaw-dropping six-digit figure. For example, in August 2021, Mutant Apes Yacht Club (MAYC) issued an NFT called "Serum" to NFT holders of Bored Apes Yacht Club (BAYC), and each BAYC NFT holder received a corresponding reward. This airdrop is not only a generous return to the community, but also weaves a fascinating story for non-holders, which can be regarded as a successful marketing model.

However, when chasing these digital treasures, you need to be vigilant. Some seemingly tempting airdrops may cover up scams. To avoid traps, investors should pay attention to authoritative media, forums and social media channels in the cryptocurrency industry to obtain real and timely information. At the same time, it is also crucial to verify the source and reliability of airdrops to ensure the safety of their investments.

In addition, airdrops may raise tax issues. In many tax jurisdictions, airdrops are considered a form of income. Therefore, when tokens are received, they are generally taxed according to the market value of the day. If you decide to sell these tokens in the future and get a higher value, you may also be subject to capital gains tax. In order to ensure tax compliance, it is recommended to consult a professional tax advisor to understand the specific tax implications and reporting obligations.

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