What is a Cryptocurrency Airdrop?

From this article you will learn about cryptocurrency airdrop, its kinds and how to get it
14 February 2018   159

What is a cryptocurrency airdrop?

A​ ​crypto airdrop​ ​is​ ​when​ ​a​ ​blockchain project distributes ​free​ ​tokens or​ ​coins ​to​ ​the​ crypto ​community.

To​ ​get ​airdrop often​ ​the​ ​only​ ​requirement​ ​is​ ​that​ ​you​ ​have​ ​coins from the relevant blockchain stored​ ​in​ ​your​ ​wallet. Examples of this format of airdrops are Byteball, Stellar lumens, and OmiseGo. These airdrops required to prove you were the owner of Bitcoin or Ethereum at a certain time (snapshot) of the blockchain. 

Airdrops can be delivered in a variety of ways: 

  • Forks (e.g. Bitcoin Cash, Bitcoin Diamond),
  • ICO purchases (e.g. Raiden Network),
  • Freebies (e.g. Binance gifting customers with 500 free TRX).

Sometimes an airdrop will occur if a team behind the blockchain project decides to give away “free” tokens to the cryptocurrency community.

​At​ ​a​ ​pre-announced​ ​time​ ​the​ ​project​ ​behind the​ ​event​ ​will​ ​take​ ​a​ ​”snapshot” ​of​ ​the​ ​blockchain,​ ​​anyone​ ​holding​ ​Ethereum or Bitcoin​ ​at​ ​that​ ​point​ ​will​ ​receive​ ​a certain number​ ​of​ ​free​ ​tokens or coins.​ ​This can also be done on other blockchains, but Ethereum and Bitcoin are the most used for this airdrop format.

Why do Airdrops Occur?

Why does this happen, and why would anyone decide to give away valuable tokens? First of all, with doing an airdrop the project creates awareness about their ICO or token. It brings people to the project that otherwise would not have owned or heard about it. It could lead to token price appreciation since people value a token they own higher then a token they don't own. 

A crypto airdrop is advertising. When you look at coinmarketcap just on page one you will see 100 coins, but if you have or had a coin that name is still in your brain. The seed is planted and whenever you check coinmarketcap and scroll down, the name of the free e-Coin will jump out and people will check how it is doing. Although, a crypto airdrop would create a community of people who own the tokens. 

What Wallets Do I Need?

Usually, airdrops occur on the Ethereum or Bitcoin blockchain and all you need is an account on an exchange. However, those in charge of the airdrop will sometimes state a specific wallet that’s needed such as an “ERC20 non-exchange wallet”(a wallet that isn’t located on exchange sites such Binance or Coinbase). One of the reputable non-exchange wallet is Exodus. 

An ERC-20 wallet simply means any wallet that supports the Ethereum blockchain system. Some tokens follow Bitcoin protocol, some follow Ethereum, etc. Therefore, it’s important to have a wallet that allows you to store ERC-20 tokens if that’s what the airdrop guidelines call for. MyEtherWallet is a popular ERC-20 wallet.

Where can I find information about new airdrops?

There are many websites and twitters that post about new crypto airdrops. However many of them mostly post referral links from which they get paid if you join. That's why Hype Codes team is constantly updating the list of the most interesting cryptocurrency airdrops on such criteria as relevant date and the difficulty of obtaining.

In this article you can find relevant information about the active cryptocurrency airdrops and how to get them.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   238

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.