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The cryptocurrency market is becoming increasingly crowded, with every company attempting to get a piece of the action. After all, in order for a cryptocurrency to be successful, it must be widely used. Offering airdrops is one way to increase adoption and differentiate yourself from competitors.
What is Airdropping?
A crypto project or startup uses airdropping to send free tokens to the wallet addresses of its community members. For example, Gas DAO distributed GAS tokens on Ethereum to anyone who had paid at least US$1,559 in gas fees on the blockchain platform. On the Gas DAO website, investors could claim their tokens.
The goal of airdropping is twofold: one, to encourage usage, and two, to raise awareness. In essence, it is a marketing strategy for your blockchain startup.
You can earn enough money to bootstrap your business and help it grow if more people use your tokens. If you are airdropping governance tokens, you can also ensure a fair distribution of your tokens, avoiding concentration of power in the hands of a powerful few.
Can I Get Free Major Coins Like BTC, ETH, SOL Through an Airdrop?
The short answer is yes. Many airdrops are doing airdrops and reward their airdrop hunters with major coins in order to attract more users to participate in the airdrop.
Even tho BTC airdrops are rare, now more people are focusing on ETH or other coins since they are able to distribute the token rewards through a EVM compatible chains and save a lot of fees while they are distributing the airdrop rewards.
But you can always exchange your free airdropped tokens to major coins like BTC, ETH, etc. on an exchange.
How to Get Free BTC, ETH, SOL and Other Coins for Free?
To start earning free crypto like BTC, ETH, SOL and many more popular cryptocurrencies, you need to visit Skyrush’s Airdrop Tasker and explore the active airdrops.
Another way is to sign up for an account and you will be subscribed to our Newsletter list where you will get regular emails about new airdrops listed on Skyrush.
You can earn in many ways on Skyrush as we list different airdrops on daily basis, some of them are:
- Standard: To participate in a standard airdrop project, you must sign up for their Newsletter with your name and email address. Signing up earns you tokens, or you can complete some social media tasks like liking their recent tweets, join their Telegram Group, Discord, etc.
- Holder: Some airdrop projects will send you free tokens if you have a certain cryptocurrency balance in your wallet. For example, if you have at least 0.1 ETH in your crypto wallet, you are eligible for the airdrop. You must be an active cryptocurrency investor with a balance in order to qualify.
- Bounty: Follow and interact with the project’s social media channels to earn airdrops. Some airdrop startups may request that you share, promote, or like their posts.
- Exclusive: If you follow a project on social media and are a member of their website, you are automatically eligible to receive their tokens.
Are Airdrops Safe?
No, not always. While airdrops can be profitable, they can also be fraudulent. For example, Pierre Rochard, the founder of Bitcoin Advisory, warned in a tweet that airdrops can be pump-and-dump schemes. It occurs when project owners artificially inflate the price of a token in order to sell all of their tokens and walk away with the cash, causing the token’s value to fall and you to suffer losses.
Furthermore, some airdrops may turn out to be dusting scams. When you use the token, these attempt to hack into your account, revealing your personal information. It’s safe to say that not all freebies are fantastic.
However, airdrops have a number of advantages. Airdrops can significantly increase brand awareness for startups. For example, following their airdrop, BRD Bitcoin’s social media following grew from 2,000 to over 40,000. It can also increase the value of your token.
In 2020, the decentralized exchange (DEX) Uniswap distributed UNI, its native token, to wallets that had completed at least one transaction on the platform before September 1, 2020. Following their airdrop, the token’s value increased more than tenfold, from $2 to $30 in April 2021.
In the end, airdrops are merely a marketing strategy. It can help businesses launch an initial coin offering (ICO) or strengthen relationships with their community.
Airdrops are a great way for crypto startups to stand out from the crowd and reach more people. After all, they are known to increase awareness and usage. Investors can also gain free access to extremely profitable tokens. However, in the crypto space, caution is essential.