Keep An Ear out for Airdrops

In cryptocurrency there a few legit ways to get free coins by holding cryptocurrency, one is to hold crypto in that coin’s wallet when an airdrop occurs.

An airdrop just means coins being sent out to a wallet for whatever reason.

Crypto developers do this for several reasons, but mainly it is to reward holders and to incentivize buyers.

To find out which airdrops are occurring try checking out Crypto Airdrops or Airdrop Alerts on Twitter. For more, see an example of an airdrop from WAVES.

That is it, nice and simple. Keep an ear out for airdrops, and make sure to be in a wallet where you control your private keys when an airdrop occurs. Exchanges often won’t credit every airdrop or fork, so it is important to be in a wallet where you control your private keys directly, just like with a fork.

WARNING: Airdrops have lots of risks, and we can’t cover all of them here. There is the risk of the coin getting pumped before the drop or dumped after the airdrop. There is risk in downloading and using a wallet. There is the risk in that sometimes airdrops are on lesser known and used coins (and thus they may be harder to sell for a good price). There is a risk in trusting a source on upcoming airdrops. Please use caution, do research, verify the information you hear online, and take a good look at a coin’s chart before you take action. Just like with forks, they can be great, but there are pitfalls to watch out for (for a cautionary tale of what can go wrong with a fork, see Zclassic).

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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