What is a Cryptocurrency Airdrop? Here’s How People Are Making ‘Free’ Money

SOME people get free crypto without getting caught in an event called an ‘airdrop’.

Here’s how an airdrop works and who can access it.

Airdrops usually involve new cryptocurrencies


Airdrops usually involve new cryptocurrenciesCredit: Reuters

What is a Cryptocurrency Airdrop?

Airdrop is a method of trading cryptocurrencies.

It is a way for investors to get free cryptocurrency or tokens.

To participate, you must have a public crypto wallet.

Free depositors will want you to advertise cryptocurrencies.

It is almost always a new virtual currency that is given away for free.

It’s a bit like a try before you buy the program.

Some of the new cryptocurrencies put out warnings for people to get some of their coins for free.

Based on Cnet, a crypto investor received $2,000 worth of tokens from the Christmas Day airdrop.

He only has to pay a small transaction fee to receive the cryptocurrency in his wallet.

Blockchain applications often do an airdrop before they list new tokens.

Some crypto investors try out new blockchain applications in the hope that they will be rewarded with a lucrative airdrop when the app takes off.

Even so, most of the free money seems to go to the biggest traders.

CNET notes that several major crypto whales have received tens of thousands of dollars in crypto this way.

However, ‘free money’ does not come without risk.

Anyone looking for an airdrop needs to watch out for scammers and always read the small print of supposed ‘transactions’.

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