For newly listed crypto currencies to make it in the crypto market a lot has to be done to make sure they are well recognized so that they will be able to be adopted. Imagine selling something to people they don’t even know what it is. It’s obvious your offer will be rejected unless you go in deep and market you product very well and let people know how good it is and that way success is guaranteed.
Crypto currencies go through the same process as well especially all these new ones they have to make sure they do so for them to penetrate the market otherwise their tokens will be useless so they do what’s called “crypto currency airdrops”.
What are Crypto currencies airdrops?
This is a crypto marketing process where free tokens or coins are distributed freely to users’ wallets or given to users after they buy or invest in crypto tokens which are about to go public. The purpose of the airdrops it to draw attention, create awareness and demand of the new crypto before it gets listed on public exchanges.
Many new ICOs would just try and sell their tokens to the public in a bid to raise money for their project but it’s not always guaranteed that it will be successful because people might not buy and this means the token won’t survive the competition. So as a way to try and avoid such failures coins are distributed for free and make sure they get a market share first, this method is costly to the owners of the company but its worth it as this might be promising.
Are airdrops profitable?
Everyone once free money isn’t it? If you accumulate as many as you can you might be lucky if the token is finally listed on the public exchange and tradable. You have nothing to lose by getting these free token. You can search and select the ones you like because there are a lot of them or if you log into your atomic wallet on the staking tab you will see some tokens for airdrops, there is JUST, BitTorrent, and Wink and they just require you to hold on some Tron (TRX) coins.
Possible disadvantages to users
Some of them are scams so you need to be aware as they will ask for you private keys then they will hack your accounts and you will lose any penny in there so don’t just jump on any airdrops.
Some of the airdrops are worthless and not worthy spending your time on to them because some of them will not make it to the public or either they will never increase on value.
Advantages to the company
This marketing method is very cheap as the company as the cost are minimal and they create awareness very fast as people will always rush to get free money.
Conclusion
Airdrops are beneficial to the company as it creates awareness and demand at low expenses and also beneficial to the users as there will be getting free money but you just have to be careful as there are scammers now who defraud innocent users.
