A crypto airdrop is a distribution of cryptocurrency tokens or coins, typically for free, to numerous wallet addresses. These airdrops are often used by blockchain-based projects to gain attention and new followers, or as a way to reward loyal community members. Here are the key points about crypto airdrops
Risks and Considerations
Scams : Not all airdrops are legitimate; some may be attempts to phish for user information or steal funds.
Tax Implications : In some jurisdictions, airdrops may be considered taxable income.
Market Impact : Large airdrops can lead to selling pressure on the token, affecting its market price.
Examples
Uniswap (UNI) Airdrop : In September 2020, Uniswap airdropped 400 UNI tokens to anyone who had used the platform before a certain date.
Bitcoin Cash (BCH) Fork : When Bitcoin Cash forked from Bitcoin, all Bitcoin holders received an equivalent amount of BCH.
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