What is Airdrop in the crypto market?
Airdrop in crypto is a marketing strategy used by crypto projects to distribute new tokens to users for free. These projects often use airdrops to:
Promote your project and products: Airdrops are an effective way to attract the attention of new users and create buzz for your project.
Create a community and engage with users: Airdrops are a great way to encourage users to participate in a project's community.
Giving back to users who have supported the project in the past: Airdrops are a way for the project to show gratitude to users who have contributed to its development.
Currently you can join The Crypto Mind's channel to update the earliest airdrop projects:
History of major airdrops and why you should participate
Airdrops have become popular in recent years, with many large projects using this strategy to attract attention. Some of the largest airdrops include:
1inch Airdrop: On Christmas Day 2020, decentralized exchange (DEX) 1inch airdropped 90 million tokens to over 55,000 wallet addresses. The value of these tokens has increased to over $100 million within months of the airdrop.
Uniswap Airdrop: In May 2021, DEX Uniswap airdropped 4,200 UNI tokens to each user who used the platform before January 1, 2021. The value of these tokens increased to over $10,000 within a few months after airdrop.
Axie Infinity Airdrop: In December 2021, blockchain game Axie Infinity airdropped 4,300 AXS tokens to each user who used the platform before January 1, 2021. The value of these tokens increased to over $100 within a few months after the airdrop.
I like participating in the airdrop because:
Opportunity to earn free coins: Airdrops are a great way to earn free coins. While the value of airdropped tokens or tokens may fluctuate, it is likely that you will receive a significant amount of money if you participate in a successful airdrop.
Opportunity to get hold of new tokens: Airdrops are a great way to get hold of new tokens or tokens before they go public. This can give you the opportunity to profit if the price of these tokens or tokens increases.
Opportunity to join a new community: Airdrops are a great way to join a new community. This can help you connect with people with similar interests and learn more about the crypto field.
How to participate in airdrop hunting
To participate in the airdrop hunt, you need to do the following steps:
Follow crypto projects: The best way to find out about upcoming airdrops is to follow projects. You can do this by following projects on social media, subscribing to their newsletters or participating in The Crypto Mind community.
Create a crypto wallet: You need a wallet to receive tokens or airdropped tokens. There are different types of wallets, so you should choose one that suits your needs. I will have detailed instructions for this part later
Meet eligibility criteria: Each airdrop has different eligibility criteria. You need to ensure that you meet these criteria to be eligible for the airdrop.
Some tips to increase your chances of successfully participating in airdrops:
Get in early: Airdrops are usually limited, so you should get in as soon as possible. Projects will often announce their airdrops on their websites, social networks, or other media channels. You should follow projects that interest you to stay informed about upcoming airdrops.
Follow the rules: Make sure you follow all the airdrop rules. This will help you avoid being excluded from the airdrop. The rules of the airdrop are usually clearly stated in the project announcement.
Beware of scam airdrops: There are many scam airdrops being launched. Be careful with airdrops that ask you to provide personal information or pay money. Official airdrops usually do not require you to provide any personal information or pay money.
Conclude
Airdrops are a fun way to get into the crypto space and get a chance to earn free money. However, you need to be careful and research carefully before participating in the airdrop or you will lose all your money!
Original article link: https://caodung.substack.com/p/airdrop-la-gi-tai-sao-ban-nen-tham
