What are Airdrops?

Airdrops are free cryptocurrencies given by crypto projects to reward users. They can come in various manners.

Airdrops are one of the ways to share a crypto projects success with it's memebers. There are various categories of Airdrops there are: retroactive Airdrops, Testnets, Social media bounties, Airdrops for holding a particular assets or NFT.

Retroactive Airdrops:

These are Airdrops given to users for performing transactions and activities on a particular blockchain. Retroactive airdrops are given to users as a reward for their activities on a default chain such as swapping, providing liquidity etc.

Testnets:

These are Airdrops given to users for helping to test and use an application or blockchain before it goes Live. Testnets do not require real funds. Testnet Airdrops are given to users for helping to use an application before their Mainnet.

Social media bounties:

Social media bounties include following a project's twitter, joining discord servers etc. They are rewards given to users just for performing social media activities for a crypto project.

Airdrops for holding a particular assets/NFT:

These are Airdrops given to holders of a particular token or NFT. Normally snapshot (i.e a record of the total wallets holding the assets at that point in time) is taken. Then holders can now claim their rewards or it is sent directly to their wallet.

Airdrops have been one of the ways for a crypto project to grow, engage and reward their community. It is mostly usually part of a lot of project's TGE and tokenomics.

All you need to participate in an Airdrop is an active crypto wallet to perform transactions, active social accounts (e.g twitter, discord), a lil. amount of funds of it's retroactive. Most of the ways to participate in an Airdrop are stated by the project also be an active member of their community.

Airdrops are one of the ways a project rewards it community and can sometimes be worth a fortune. But also note that they are sometimes not guaranteed, so it's best not to put all your interest on them. Airdrops are a low barrier way to earn from crypto, that you can mostly start with from zero. Always worth the try.