What are Crypto Airdrops?
Ever wondered where you could get free money? You came to the right place. Airdrops refer to the activity of providing free cryptocurrency or other digital assets to the general public, more importantly to cryptocurrency wallet holders, either for holding other coins or just being an active wallet address. Airdrops are conducted by corporations to increase awareness about cryptocurrencies and to attract new users and gathering a large base for startup coins. Here’s Free money : the complete guide!
Crypto airdrops have become a popular marketing strategy to create and sustain interest, distribute currencies and build a community. Airdrops are conducted for newer coins which have yet not attracted attention of the masses. By receiving new coins for free, users are made aware of their existence and soon become popular through word of mouth.
How can you participate?
Crypto airdrops are generally announced on the company’s website and on cryptocurrency groups or forums. Coin holders receive bonus coins in accordance to the number of coins held by them in their wallets. To participate, one must just purchase coins if they had not purchased before or purchase more to earn extra airdrop rewards.
Is there an Airdrop coming?
Today is your lucky day because there is an airdrop coming, hosted by DeFiChain. DeFiChain is a blockchain network specially assigned for decentralized financial instruments. The DeFi blockchain provides unprecedented high transaction ability to its users by reducing risk of errors and improving
However, this is not the first time the network has airdropped cryptocurrencies to its users. Back in September, 2020, DeFiChain airdropped DFI coin to BTC holders in the ratio of 500:1. That is, 500 free DFI coins for every bitcoin held! You too, can receive such rewards.
DeFichain and Cake DeFi are airdropping $20 worth DFI coins to its new users. All you need to do to claim your DFI coin is to create an account at Cake DeFi, complete your verification and purchase $50 worth of any coin. You can also receive an additional $10 of DFI coin by referring others to use this network.
Step by Step plan:
- Create an account at Cake DeFi.
- Verify your mail and log in.
- Complete your KYC verification.
- Deposit or purchase $50 worth of any supported coin.
- You will receive $20 worth of DFI coins.
- Additional $10 worth of DFI coins can be received on each referral.
- The rewards will be locked in the program for 180 days but you will earn up to 37% returns on them.
Yes, you read it right! Not only can you receive free coins which can appreciate in value but also earn 37% interest by staking them, in other words holding them in your wallet.
What Are The Benefits Of Participating?
Participating in cryptocurrency airdrops is a great way to earn passive income and you get rewarded proportionately on your holdings. It is as good as receiving free money and who wouldn’t want an opportunity to earn free money. However, it is slightly different than getting “money”. Instead of fiat, you receive cryptocurrencies. While fiat have a reputation of going down in value over the years, the value of cryptocurrencies has a high probability of appreciating in value. So the $20 worth of DFI coin can be worth very high in the future. Who knows?
More importantly, even if its value does not appreciate in value, you can even earn more passive income by generating up to 37% returns on your coins just by staking them.
Are There Other Airdrops too?
Well yes there are. Several large corporations conduct airdrops on various occasions. Fortunately, there are various other crypto airdrops which are going to be held in June. These include Morpher airdrop where one can claim 100MPH ($5) by merely signing up to Tim Draper’s 24/7 zero-fee exchange. Others include SwissBorg Airdrop, Binance Airdrop, ChainX Airdrop and BlockFi Airdrop bonus.
There were various airdrops held earlier this year where popular cryptocurrencies such as Byteball, Stellar Lumens, ARDR and NEM. One can easily participate in all the airdrops by keeping a check for announcements on the official websites or various crypto forums on Whatsapp, Facebook, Telegram and many more.
In conclusion, Airdrops present a great passive income streak, one must just capitalize on the opportunities.
Watch out for any and all announcements in the future so as to receive as many rewards as possible and coming a step closer to achieving financial freedom. Happy earning!