What's an Airdrop in Crypto?

October 25, 2022
Knowledge Center » Blog » What's an Airdrop in Crypto?

If you're like me, you've probably been hearing a lot about "airdrops" lately in the cryptocurrency world. But what the heck are they? In this article, I'm going to explain exactly what an airdrop is and how you can get free crypto tokens just by holding onto your existing ones. So let's get started!

Airdrop

An airdrop, in the cryptocurrency world, is basically when a blockchain project distributes free tokens or coins to the wallets of its community members. Usually, all you need to do to qualify for an airdrop is hold a certain amount of tokens from a particular blockchain project. For example, if you hold 10 Bitcoin in your wallet, you might be eligible to receive 100 XYZ tokens from their airdrop.

The reasoning behind why projects would give away free crypto is usually twofold. First of all, it helps to create awareness for the project and gets people talking about it. Secondly, it helps to build up a community of users who are invested in the success of the project (because they literally have skin in the game).

Of course, not all airdrops are created equal. Some are definitely better than others. And in some cases, you might even have to jump through a few hoops to qualify (like sharing on social media or completing certain tasks). But overall, I think they're a great way to earn free crypto — so definitely keep your eye out for them!

If you're interested in getting your hands on some free crypto, here are a few places you can start looking:

- Airdrop Alert: This website keeps track of all the latest airdrops and makes it easy for you to find ones that match your criteria.
- Reddit: The subreddit /r/airdrops is full of information about upcoming and ongoing airdrops, as well as warnings about scams.
- Telegram: There are numerous Telegram groups dedicated to tracking airdrops; Crypto Airdrops is just one example.

All in all, I think airdrops are a great way to earn free crypto tokens. And if you're not paying attention, you might miss out on some easy money. So make sure you stay up-to-date on all the latest news in the crypto world and don't forget to check for upcoming airdrops! Who knows — maybe you'll be the next one to hit it big!

About Jacques Potts

Jacques Potts is Sr. Marketing Manager at Ledgible and an experienced financial author, marketer, and crypto expert. His work has been featured on The Street, Project Serum, FirstTrade, and Invstr.

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