LIVEHow do crypto airdrops work?
Firstly, it’s important to note that crypto airdrops operate on blockchain. When a project decides to conduct an airdrop, it usually sets aside a certain amount of its tokens for distribution. The mechanics of a crypto airdrop typically involve the following steps:
Announcement: The project announces the airdrop through various channels such as social media, forums, or their official website. They detail the eligibility criteria and instructions for participation.
Registration: Participants usually need to register for the airdrop by providing their wallet address and completing any other required tasks, such as joining a Telegram group or following the project on social media.
Verification: Once registered, the project verifies the eligibility of participants based on the criteria specified. This step ensures that only genuine users receive the airdropped tokens.
Distribution: After verification, the project distributes the free tokens directly to the wallets of eligible participants. This distribution is often automated through smart contracts on the blockchain.
Claiming tokens: Participants can then claim and access their airdropped tokens through their crypto wallets. These tokens can be held as an investment, traded on exchanges, or used within the ecosystem of the issuing project.
