What are coin airdrops and how do I get them?

Coins are generally airdropped to your wallet by ICO issuers or an existing blockchain network (ex:- Spark token airdrop for XRP coin holders) to increase awareness, improve marketing and publicity for the project. Sometimes you may get coins through airdrops, and you may not even know about it (until you check your CoinTracker account!).

What is a crypto airdrop?

A crypto airdrop is a free crypto reward. People who get a crypto airdrop will see fungible or non-fungible tokens (NFTs) appear in their private crypto wallet address. Usually, new crypto projects use airdrops to generate social media buzz or reward early community members by literally sending free assets directly to their wallet.

How do airdrops work?

Airdrops are generally promoted on the company's website, social media, and cryptocurrency forums. Coins or tokens are sent only to specific wallets based on the blockchain network or coins held in existing wallets. To qualify for the free gift, a recipient may need to hold a minimum quantity of the crypto coins in their wallet.

What is a Token airdrop?

Token airdrop: A crypto platform, such as a decentralized exchange (DEX), decides to create a native token. To reward its current user base, the project sends half of the total token supply to users’ wallets based on the volume each user has traded on the platform.