What is an Airdrop in Cryptocurrency? What is an Airdrop Cryptocoin Explained




What the heck is an airdrop in  cryptocurrency? So I don’t know about you  but  there are a lot of freaking terms to  learn in the cryptocurrency universe to say the least. One of the most popular ones going around is  airdrop? The more  I read about  cryptocoins in my research  the more I kept running into this term  especially in regards to  ICOs (initial  coin offerings). So I finally decided to  sit down and look it up once and for all. Here we will break down what this is and why it can be super beneficial to you  and your wallet$$$

So What is  an Airdrop Crypto or Coin?

This is basically a digital asset handed out for  free to all of those  meeting a certain requirement  from the development team of a particular coin. So  for instance if you are holding a certain coin like say  bitcoin at a  certain time, then you  could be eligible to receive other related coins like bitcoin diamond, bitcoin, gold, or  bitcoin cash. This has been happening  quite a bit lately.

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Airdrops are  FREE COINS for Holders of  certian cryptocurrencies

Why would any company or  group of developers give away  essentially FREE MONEY to  holders of  a particular coin?

 Well  there are actually  quite a  few GOOD reasons for this. One, it  shows goodwill and gets people talking about the new coin. The truth is if someone  suddenly  decided to  promote a brand new coin without a reputation already built up  then it will be pretty hard for  others to want to seek it out or purchase it. When a  company or group gives out FREE coins to those already using a certain cryptocurrency this  leads to A LOT of attention  for the new coin.
People who receive it or  are in line to receive it will talk about it and  drum up even more  interest. This  talk will spill over to new potential cryptocurrency  buyers, and they will give said coin a try  just because of the  good hype surrounding it.

This in turn increases said coin’s  value and the  price  for it goes up benefiting those  who invest and the creators of  the coin. This has proven  very  lucrative  for  all parties involved. For instance,  bitcoin diamond was released and it’s value instantly went form  zero to a very high amount even beating out  other  bitcoin cryptocoins that had been around  longer.

While airdrops may not always prove profitable short or long term they  definitely  draw lots of attention. When people receive these they can either keep them to see if there is an increase in value or sell them off immediately for  quick profit before a potential downturn in price.



How Does One Claim Their Airdrop or Free Coins?

There are many more  airdrops going on these days and in a lot of cases if you  simply hold  the coin that the new coin is an offshoot or fork of  then you  automatically are paid these if you hold the main coin on an exchange or  on a wallet.
In other cases you may need to go through some additional steps to claim them. It is recommended that you look up specific information for  upcoming, recent or pass airdrops to know  exactly what to do. This information can be found on the  main coin’s website. You can also checkout reputable places like the  website, Airdrop Alert, which gives  good information on future  and ongoing airdrops around the clock. They also have a facebook, twitter and telegram accounts.

Remember never give out your private key to your wallet because there have been cases of  people having their cryptocurrency stolen trying to collect  free or airdrop coins.  The same goes for wallet files. Beware of suspicious links as well! If a  company  , group or website asks for  an email in regards to you claiming your  airdrop coins.  It is good to  give a  secondary email.

So  what are airdrop coins in  cryptocurrency? They are free coins given to holders of a specific coin based on certain requirements. You can claim these automatically or manually again  if you are eligible  to  receive them. Free money is  good  but make sure to do your own research and use websites like airdrop alert to  confirm and obtain more specific info on these.



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