In the cryptocurrency business, an airdrop is a marketing stunt that involves sending coins or tokens to wallet addresses A blockchain address is a location where crypto coins are stored, received and sent.Learn more to promote awareness of a new virtual currency.
Small amounts of the new virtual currency are sent to the wallets of active blockchain community members for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.
To qualify for the gift, a recipient may need to hold a minimum quantity of the crypto coins in their wallet. Given the extreme competition among cryptocurrency startups, an airdrop is an attempt to stand out from the crowd.
Some businesses devoted to crypto airdrops offer alerts to users and listing services to startups, plus a range of marketing services to fine-tune their airdrops. As always, there are good businesses and bad in this space.