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How to Receive Cryptocurrencies Totally Free: Complete Guide to Airdrops for Beginners


At the time of the announcement, 14.40 local time (20.40 GMT), the value of bitcoin was about 58,683, according to the graph of the cryptoassets exchange Binance, so this purchase would be equivalent to about 24.6 million of dollars.  Archive image.  .  EFE / Sascha Steinbach
At the time of the announcement, 14.40 local time (20.40 GMT), the value of bitcoin was about 58,683, according to the graph of the cryptoassets exchange Binance, so this purchase would be equivalent to about 24.6 million of dollars. Archive image. . EFE / Sascha Steinbach

It is usually believed that to get cryptocurrencies it is necessary to pay for them. That the starting point to enter the world of blockchain implies a more or less relevant investment. But what Many are unaware that you can take the first steps in investing in this type of asset completely free of charge, without having to pay a penny. This is thanks to the so-called airdrops, a slang expression in English that could be literally translated as “parachute delivery”.

Airdrops are opportunities to begin to become familiar with owning, hoarding and even managing cryptocurrencies without adding investment costs. The possibility that some of the crypto received will enjoy a jump that becomes relevant to the economic result exists, although of course the probability is low. However, the custom of the crypto world is interesting.

What is an airdrop?

An airdrop is simply a process in which cryptocurrencies are given away. It is a method used by the creators of certain cryptocurrencies to reach a massive number of users, since there are millions of investors waiting to participate in an airdrop to get free crypto. This means that the project can gain fame in a short time, just by giving away a few tokens. This process is usually part of an initial coin offering (ICO) or the founding moments of each new crypto.

Bitcoin Cash was born in the wake of a fork of the Bitcoin blockchain on August 1, 2017
Bitcoin Cash was born in the wake of a fork of the Bitcoin blockchain on August 1, 2017

What does it take to receive free cryptocurrencies through an airdrop?

There are different ways to participate in airdrops, and each developer decides how they will give away their tokens. One of the most common ways is to give cryptocurrencies to those investors who already have a pre-existing crypto, such as Bitcoin or Ethereum. This means that you only need to have one crypto, to get another one as a gift.

Another method is to grant the tokens to those who have an account in a certain specific cryptocurrency exchange. Usually, projects seek to launch their airdrops on Binance, since it is recognized as one of the most important exchanges in the world, and this gives them more reach to a greater number of users. In this way, the marketing objective is achieved, which is to get more people to know a new launch.

However, an airdrop can not only be launched at the time of the creation of new cryptos, but also cryptocurrencies with already a great trajectory and recognition can fall from the sky like a parachute. Although it is not the most common, it is a fact that occurs from time to time. One of the most common airdrops that occurs is when the blockchain of some crypto receives an update, and that “breaks” the network into fragments. It is as if two different cryptocurrencies were created (this process is known as a fork). For instance, When Bitcoin was forked to Bitcoin Cash, those who previously owned Bitcoin tokens received an equivalent amount of Bitcoin Cash. Today, Bitcoin Cash is the 20th most important cryptocurrency by market value.

How to get started with cryptocurrency airdrops?

The first thing, of course, is to find the airdrops. There are several ways to do this, for example, there are Twitter and Reddit accounts that search and publish airdrops to facilitate the search for other investors. There are also Telegram groups where airdrops are constantly being published, and this is the way that most recently started investors use.

The Coinmarketcap.com site, a reference in this market, usually promotes some of the most important. Another portal called Airdropalert.com gives much more detailed information on airdrops in progress or about to start, although the selection in this case is not very curated: it registers promising projects and not so much, equally.

How can I participate in an airdrop?

The process is simple. First you need a place to receive the cryptocurrencies, this is known as a cryptocurrency wallet or wallet. Generally, it is not necessary to create a wallet, but simply having an account in an exchange such as Binance is enough, since within it, there are wallets for hundreds of cryptocurrencies.

Metamask is one of the crypto wallets suitable for airdrops, although not the only one
Metamask is one of the crypto wallets suitable for airdrops, although not the only one

If you want to create a cryptocurrency outside of an exchange, which is not always necessary but is totally valid, you should check in which blockchain the airdrop will be carried out. That is, each airdrop has a website where the information is given that will indicate which blockchain they will use for the shipment. Generally 2 are used, the Binance Smart Chain, or the Ethereum network. So, the easiest way to participate in almost any airdrop is to have a wallet that works with both networks, such as Metamask. Creating a Metamask wallet is as simple as installing any program on your computer, and just search for Metamask on Google to find the downloadable one.

Almost everything is done, the last thing that remains is to know the airdrop in which you want to participate. Some will ask to fill out some forms, surveys, share some posts on networks, and little else. Others will simply require owning some cryptocurrencies beforehand, such as having Bitcoin in your wallet, and the new tokens will be automatically deposited on the day of the airdrop. Many investors realize that they were unknowingly part of an airdrop because they had an account with a certain exchange. When they log into it, they see that they have some new cryptocurrencies and they don’t know why. What happened is that they were part of an airdrop.

Are cryptocurrency Airdrops profitable?

There is no doubt that some cryptocurrency airdrops can bring long-term rewards. Some cryptocurrency investors will accept airdrops as a risk-free opportunity to make money for several months, even years. Some tokens can gain traction and be worth tens, even hundreds of dollars, just like the price of Ethereum. Nevertheless, other tokens may never be worth anything at all – that’s the risk.

How can I avoid an airdrop scam?

Unfortunately, cyber scammers exist in every corner of the internet, including the cryptocurrency industry. There are several red flags to watch out for in relation to cryptocurrency airdrops: sellers asking for money to be sent in exchange; projects that ask for users’ private keys; and projects marketed through seemingly illegitimate channels.

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