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A crypto airdrop is a marketing stunt in which a cryptocurrency project or company makes an unsolicited deposit of a coin or token into numerous digital wallets, as a way to grab attention and encourage adoption of the cryptocurrency. The project team communicates the details and requirements of the airdrop through their official channels or cryptocurrency communities.
The interested participants register for the airdrop by providing their wallet address and other information or performing the required tasks.
The project team verifies the eligibility and validity of the participants and distributes the tokens to their wallets according to the rules of the airdrop.
The participants receive the tokens in their wallets and can use them according to the terms and conditions of the project.
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What is a crypto airdrop?
A crypto airdrop is a strategy used by blockchain startups to distribute tokens or coins to specific wallet addresses.
Airdrops strive to raise awareness and adoption of new blockchain projects.
There are different types of airdrops, and they may require participants to perform certain tasks or hold a certain amount of existing tokens.
Understanding Crypto Airdrops
A crypto airdrop is an activity typically performed by blockchain-based startups to help bootstrap a virtual currency project. Its aim is to spread awareness about the cryptocurrency project and to encourage more people to participate in it when it becomes available. Airdrops are generally communicated through the company's official channels and cryptocurrency communities. Coins or tokens are sent only to specific wallets based on the blockchain network or coins held in existing wallets.