What is a crypto airdrop?

November 23, 2018

Blockchain.com is airdropping $125 mln? You’re kidding me, right?

If anyone has ever doubted what lurks just beneath the idea of crypto airdrops, with the dispersion of $125 mln worth Stellar’s lumens, the intangible concept starts getting more practical.

Crypto airdrop is an ultimate new way to market a tokenized product or — simply put — engage thousands of new users.

Does it matter that today crypto airdrops look like an electric kool-aid acid extravagancy? Not really. They’ve got a very good chance to turn into a routine tomorrow.

OK, why do companies perform those airdrops?

Consider the Blockchain.com airdrop. They are performing it and giving away that much money to do several things.

  • verify the users and get rid of the problems with the law in the future
  • engage many more users

Still have no clue?

OK, another example. Say, you love shopping online, you love coupons, you love, love, love Black Fridays and take all the chances to get your hands on free stuff. Maybe even, you love it too much? Here comes the tokenization business model and the concept of the airdrop!

A real-life illustration => every time you make a purchase on the Rewards website you get 50 tokens. You can exchange those for something that is being sold on the platform, withdraw your fiat money or even jump to a trading venue and sell your tokens to other people.

Not so long ago the company was giving away (airdropping) 57 tokens (~$ 11,40) to participants who created an account on their website. As the result, not only got those participants 50 tokens for every purchase on the platform but also 57 extra just for signing up.

Do you see where it’s going? You undertake some useful online work and get free crypto.

The requirements for every each airdrop can vary but not much. To land tokens in your wallet, you might need to join Telegram channels, like projects on facebook, retweet, comment on bitcointalk & reddit or, drumroll, verify your identity.

The problem, of course, is that beginners don’t always know how to separate the wheat from the chaff, and join something that is only called an airdrop.

No worries, there is a solution.

First of all, you can always detect malicious projects if you come across these patterns:

  • the project wants you to join a Telegram channel, but they don’t want you to send them your wallet’s public address
  • the project wants you to submit your private key (wha-at?!)
  • Telegram bots ask you to download a new unknown wallet
  • or maybe you notice a copy-paste pattern in a whitepaper

Second of all, you can follow trusted platforms that list airdrops

Seriously, there is such thing as a safe crypto airdrop. Here at AirdropAlert, have listed 2500 projects and we know it for sure! So, if you’re ready for your crypto, check out our socials

Why should you trust us, though? Well, we don’t mean to brag but, being gatekeepers of the crypto giveaways ecosystem, we spend a good amount of time vetting the project. Over the past year, we grew our team of researchers, sharpened our due diligence process and improved our tools of verifying airdrops.

Now it takes us an average of 4 hours per a project to get it listed on our platform.

We’d rather be safe than fast when it comes to your security, so if the airdrop is listed on our platform, simply go for it, and you will sleep well at night!


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One KYC for all airdrops ← P R E V I O U S

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