#AirdropStepByStep

What is a cryptocurrency airdrop?

Cryptocurrency airdrops are free giveaways where projects distribute tokens to certain users. An airdrop sends free money to users' wallets, and in return, the project receives a lot of publicity and recognition. To participate in an airdrop, the user must perform certain actions, such as using a Dapp in advance. Others encourage users to perform small promotional actions, such as following their social media.

The largest cryptocurrency airdrops have distributed millions of dollars to their users. UNI and ENS delivered tokens worth over $10,000 to users who had previously traded on their platforms. These airdrops were unexpected and surprised users.

Advantages of cryptocurrency airdrops

.Get free cryptocurrency tokens. Sometimes they can be worth more than $10,000.

.Can be sold on CEX and DEX

.Rewards early users of a project

.Little work required

.Multipliers for meeting certain eligibility criteria

Disadvantages of cryptocurrency airdrops

.No guarantee of receiving every drop

.Most airdrops are not worth much

.Many scams and risks of draining your wallet if you connect to malicious websites

.Downward pressure on the token price

.Claim restrictions (for example, can only be claimed in 3 months)

Types of cryptocurrency airdrops

.Retroactive airdrops

.Holder airdrops

.Reward airdrops

by: Rank Fi