Encryption is a practice whereby current holders of a cryptocurrency, such as Bitcoin, receive free tokens as a reward. In lay terms, it is a tribute that aims to promote a particular block. It also rewards loyal customers in an effort to ensure that they continue to subscribe to a particular blockchain platform.
How does it work
This practice is relatively recent on the crypto market. Consequently, no concrete rules on the operation have yet been defined. Perhaps they are on the verge of being developed, as the project has gained much popularity. Some encrypted websites display the rules, but with most, you must contact the developer for more details.
The team behind a particular event announces a date for the airdrop. Once the set date has materialized, the crew that manages the take-off run takes a snapshot of the blockchain, with the result that the holders of the relative cryptographic currency receive free e-tokens. Most encrypted blockchains, especially those in the start-up phase, prefer to announce an early launch, rather than surprise planes, all in an attempt to start their own projects.
Why Airdrop?
The main reason for this practice is to create awareness, especially for a new virtual currency. The world of virtual currency relies heavily on "hype". People are constantly looking for the next exciting thing and, as such, free tokens provide an incentive to attract more people to a project. The announcement of an imminent aerial scenario creates the necessary buzz on both social media and the world of virtual currency.
Airdrops also helps projects to acquire a valuable database, essential for identifying potential customers. Some air drops require customers to complete several online forms. For example, Universa.i or airdrop required potential participants to provide their Facebook list in order to qualify. Customers should always pay attention to scam sites and be sure to provide information only to official sites. Furthermore, you should never reveal your personal access information to any airdrop organization.
How to get information on Airdrops
Numerous websites and online platforms have been created with the aim of informing users about previous, future and ongoing runways. A good example is the Icodrops and Airdrop alerts, which also offer useful advice on upcoming airports. Another way to access airport information is to keep track of the various social media platforms that interest you and which could be Reddit and Telegram.
Are there ICOs?
Basically, an ICO airdrop occurs where a company that launches the first (initial) coin offering offers some of its coins to those interested in virtual currencies for free as a marketing gimmick. Sometimes, however, it may require participants to perform simple tasks.
The team behind Airdrop
This depends largely on the virtual currency involved. However, there are organizations like the Blockchain Education Network that organize airdrop events to create awareness and also to introduce new people to digital currencies.
Wallet
In order to successfully participate in an airdrop, it is essential to have a virtual currency such as BTH or PFUE in your electronic wallet.
Conclusion
It is often said that in the world of product promotion, knowledge marks the beginning of the buyer's journey. According to psychology experts, it's more likely to buy something you've seen or heard of before than something you're not familiar with. It can be said that air drops have used this concept more than successfully.
