When it comes to trading crypto assets, there’s one term that’s often heard: airdrop. Basically, an airdrop is the distribution of free coins or tokens to a specific group of users on a blockchain network.

 

Airdrops are generally given to holders of certain crypto assets without requiring additional investment. Airdrops are also often used to promote new assets and increase community participation in crypto projects.

 

Now, to understand more about what a crypto airdrop is, from its history and development, how it works, its benefits, types, to how to participate in it, check out the following review.

 

 

What is a Crypto Airdrop?

 

A crypto airdrop is the distribution of crypto assets to a community or individual crypto wallet holders who meet certain criteria. This can be done manually through the crypto project’s official website, or sometimes sent directly to the recipient’s wallet.

 

One of the purposes of an airdrop is a marketing strategy to increase community awareness of an upcoming crypto project.

 

History and Development

 

Airdrops were first used as a marketing strategy in the early 2010s when blockchain and cryptocurrencies started to gain widespread attention.

 

One famous example of an airdrop was the distribution of Bitcoin Cash (BCH to IDR) coins to Bitcoin (BTC to IDR) owners in 2017 after the hard fork.

 

Since airdrops were first introduced, the method has undergone various developments. Now, airdrops are not only used to raise awareness, but also to build communities, test systems, and encourage decentralization.

 

Today, airdrops also often include various tasks or active participation from users to qualify, such as following social media accounts, joining community groups, or downloading apps.

 

How Airdrops Work

 

In terms of how it works, an airdrop will go through several stages. Here’s how it works that you need to know, including:

 

Airdrop announcement stage

 

Cryptocurrency projects usually announce airdrops through official websites, social media, and community platforms.

 

Registration and verification process

 

In the registration process, users need to sign up by providing their digital wallet address or following the prescribed steps.

 

Meanwhile, in the verification process, the project will verify the user’s eligibility based on the predefined requirements.

 

Token or coin distribution method

 

Furthermore, tokens or coins will be distributed to the wallets of eligible users on a predetermined date.

 

Benefits of Airdrops

 

The following are some of the benefits of crypto airdrops that are important to know, including:

 

• Increased awareness of new crypto projects: Airdrops help new projects gain wider attention by attracting new users.
• Building a solid community of users: By distributing tokens to early adopters, projects can build a solid and supportive community.
• Opportunity for testing and feedback: Airdrops provide an opportunity for projects to test their systems and get feedback from users.
• Helps decentralization and fairer token distribution: Helps distribute tokens more widely and fairly, preventing excessive concentration of ownership.

 

Airdrop Information Sources

 

There are various ways to follow or get airdrops. One of the easiest is by joining airdrop hunter groups, which can be found on platforms like Telegram, Facebook, and others.

 

Some popular crypto airdrop channels on Telegram in Indonesian are Airdropfind and Bayrickerdiscussion. For the English ones, there are channels like Tux’s Airdrop Alfa.

 

In addition, there are also X accounts that provide information about airdrops. Indonesian accounts like Yunepto and GuarEmperor, as well as English accounts like CC2 Ventures and @mztcat, often share airdrop-related information.

 

Types of Crypto Airdrops

 

Basically, there are several types of airdrops based on how they are obtained, including the following:

 

1. Bounty Airdrop

 

Bounty airdrop are given to users who complete specific tasks. Not everyone is eligible for this type of airdrop.

 

Examples of tasks that may be required include writing technical documents about the project, writing whitepapers, finding and fixing bugs in the system, and other specialized tasks.

 

2. Airdrop Holder

 

Holder airdrops require users to hold a certain amount of crypto assets stored in a personal wallet or a special wallet according to the airdrop requirements for a certain period of time. An example is the Wallet Holder Offerings (WHO) campaign by SafePal.

 

3. Airdrop Staking

 

Airdrop staking is obtained by staking certain crypto assets on-chain. This method became popular in the Cosmos ecosystem, after several crypto projects provided airdrops to users who staked Cosmos (ATOM) and Celestia (TIA) crypto assets.

 

4. Retro Airdrop (Retrodrop)

 

Retro airdrops or Retrodrops are obtained by performing regular and routine on-chain activities. The on-chain activities include bridging crypto assets, swapping crypto assets, minting NFTs, deploying smart contracts, and other on-chain activities.

 

How to Avoid Airdrop Scams

 

Airdrop scams are still rampant today so users must be careful not to be deceived when participating in airdrops. Here are some ways to avoid airdrop scams that you need to know, including:

 

1. Never send private keys

 

The first way to avoid crypto airdrop scams is to never send private keys. It is important to understand that no one needs a private key to check the wallet balance.

 

In this case, the balance can be easily checked through explorer sites like Etherscan without having to provide the private key.

 

2. Don’t send money to get airdrops

 

Do not send money to any account. Airdrops are supposed to be free and no airdrop requires payment to receive tokens. If there is a request to send money then it is an indication of fraud. Ignore the request.

 

3. Beware of phishing websites

 

Watch out for phishing websites that often mimic official crypto project websites. Usually, phishing sites try to attract users with the lure of airdrop claims through certain links. These links often bring up pop-ups that can potentially drain your wallet.

 

4. Check the official source of the crypto project

 

Make sure to verify information through official sources. If a project is conducting an airdrop, the announcement will usually be published on their official social media accounts, such as Twitter.

 

Verify the authenticity of the airdrop from official sources to avoid scams that may try to get your personal data. Finally, always seek information from trusted sources to help identify legitimate airdrops.

 

How to Join the Airdrop

 

If you want to follow the airdrop then here are some of the tools needed, including:

 

1. Required tools and applications

 

• EVM Wallet: EVM wallets are used for airdrops on the Ethereum chain and other EVMs, including layer-2s such as Arbitrum, Optimism, and zkSync. Examples of wallets that can be used include Metamask Trust Wallet, and Rabby Wallet.
• Solana Wallet: Solana wallets are required for airdrops on the Solana chain. Some compatible wallets include Solflare and Phantom.
• Cosmos Wallet: The Cosmos wallet is required for airdrops in the Cosmos ecosystem, including Cosmos Hub, Celestia, Osmosis, and Injective. Examples of wallets that can be used are Keplr and Leap Wallet.

 

2. Have an active wallet

 

Make sure your wallet is active by doing regular on–chain activity. Crypto projects often check wallet activity and balances to ensure that the wallet is being actively used and not just created for airdrop purposes.

 

3. Telegram and X accounts

 

Telegram accounts: Telegram accounts are often used by crypto projects for communication with airdrop participants. To stay up to date and get involved in the community, join the relevant Telegram channels.
X Accounts: X accounts are also important as some airdrop crypto projects may ask users to follow them on X and perform actions such as sharing or reposting their content.

 

Examples of Famous Airdrop Projects

 

Below are some examples of famous airdrop projects that are important to know, including:

 

1. Bitcoin Cash (BCH)

 

In 2017, Bitcoin Cash was distributed as an airdrop to Bitcoin holders after a hard fork. Every Bitcoin owner at the time received an equivalent amount in Bitcoin Cash.

 

2. Cosmos Ecosystem

 

Airdrops in the Cosmos ecosystem occur frequently, including token distributions from projects such as Osmosis and Injective.

 

These projects provide airdrops to users who actively participate in the Cosmos ecosystem or stake in related assets.

 

3. Celestia

 

As a new project in the crypto ecosystem, Celestiaconducted an airdrop to introduce their token and attract the attention of the community. The airdrop aims to encourage early adoption and build a strong user base.

 

 

Strategies for Optimizing Airdrops

 

To increase the chances of getting an airdrop, there are a few tips and tricks to apply, including joining crypto communities on various platforms, such as Telegram, Twitter, and Reddit.

 

Also, make sure to always check the latest announcements and news from crypto projects. Projects often announce airdrops through social media and their official websites.

 

Furthermore, follow all the requirements set for each airdrop, such as following social media accounts, joining Telegram groups, or performing certain actions on the project’s platform.

 

Then, make sure that your wallet is active by making transactions or staking regularly. That’s because projects often select airdrop recipients based on wallet activity.

 

Next, always verify the authenticity of the airdrop to avoid scams. Make sure that the airdrop is announced through the project’s official channels and does not ask for payment or sensitive information such as private keys.

 

On the other hand, there are several ways to join and take advantage of different types of airdrops. For bounty airdrops, look for tasks that match your skills and make sure to complete them well.

 

For holder airdrops, store the required crypto assets in the specified wallet for a set period. Be sure to periodically check if there are any announcements regarding airdrops for specific asset holders.

 

For airdrop staking, you can stake the relevant crypto assets on platforms that support airdrop staking. Monitor the progress of the project and ensure that the staking is done in accordance with the set requirements.

 

As for retro airdrops or retrodrops, you can do various on-chain activities regularly such as bridging, swapping, and minting NFTs. Projects that implement retrodrops usually provide airdrops based on these activities.

 

Meanwhile, recommended channels and groups to get the latest information about airdrops are as follows:

 

Telegram

 

• Airdropfind: This Telegram group provides updates on various crypto airdrops.
• Bayrickerdiscussion: This channel shares updates on airdrops and new crypto projects.
• Tux’s Airdrop Alfa: A channel for airdrop information in English.

Twitter (X)

 

• @mztcat: This account often provides updates on airdrops and crypto projects.
• CC2 Ventures: An account that provides updates and information about airdrops and the latest trends in crypto.

 

Conclusion

 

In conclusion, a crypto airdrop is a free token distribution to promote new assets and build a community.

 

The types of airdrops include bounty airdrop, holder airdrop, staking airdrop, and retro airdrop.

 

Furthermore, to avoid airdrop scams, you should never send private keys or money, and be aware of phishing websites. You can verify airdrops through the project’s official channels.

 

In addition, always use a wallet that matches the airdrop chain and make sure it is active by making transactions or staking.

 

Also, keep up to date with the latest information through groups and channels on Telegram, Twitter (X), and Reddit to get airdrop updates.

 

Let’s Invest in Crypto on INDODAX

 

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As a disclaimer, it needs to be understood again that crypto asset investment is the same as other types of investment because it has its own risks.

 

Among the risks that need to be known are the fluctuating value of crypto assets and the high level of volatility in crypto assets so that traders and investors need to do independent research before investing in crypto assets.

 

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FAQ

 

1. What is a crypto airdrop?

A crypto airdrop is a free gift of crypto assets to specific users as part of a marketing strategy or for community building.

2. How does an airdrop work?

A crypto project will announce an airdrop, users register with a digital wallet address, verification takes place, and tokens are distributed to eligible wallets.

3. What are the benefits of an airdrop?

Airdrops help raise awareness of new projects, build communities, get user feedback, and distribute tokens fairly.

4. How to avoid airdrop scams?

Never send private keys or money, be wary of phishing websites, and always check the official source of the crypto project.

5. What are the different types of crypto airdrops?

Airdrop types include bounty airdrop, holder airdrop, staking airdrop, and retro airdrop, each with different ways of earning.