This can significantly lessen the coin’s selling pressure. Furthermore, trustworthy projects can also encourage users to hold (HODL) their coin for the long term by rewarding token owners with free airdrops. Additionally, airdrops can build a sizable user base that is eager to advance a project’s success by working together to accomplish tasks like obtaining community votes for exchange listings. Social media initiatives make the project visible to people who otherwise wouldn’t be aware of it. The endowment effect, a phenomena where people would assign value to items simply because they own them, accounts for why airdrops are successful.Ī DeFi project can spread the word about their idea, token sale, or pre-ICO for little or no expense by holding a reward airdrop. A coin is more likely to gain popularity and increase in value the more people who own it. Why are crypto companies giving away free coins through airdrops?Ĭryptocurrencies are only valuable because people trust them and value them. Other airdrops will pay you only for owning a particular coin, with no expectation of payment in return. Because you receive free cryptocurrency and the company receives free publicity, this proposition offers a win-win situation. The majority of the airdrops we list are «bounty» drops they will give you tokens in exchange for joining their Telegram group or reposting on Twitter, among other easy social media tasks. These freebies are frequently referred to as airdrops. Many cryptocurrency projects and ICOs give away free coins to their communities in an effort to raise awareness of their projects, expand the available supply, and promote commerce.
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