There are several ways to invest in cryptocurrencies. One of these ways is known as airdrop in the crypto world. Cryptocurrencies are mostly made on the outline framework of decentralized finance, where a share is held by all the potential members in a project (commercial or professional). An airdrop is a procedure to kick start the process of DeFi and initialization of blockchain technology in a particular firm by distributing crypto coins, crypto tokens in a certain ratio to new or existing investors. It is most probably the best way which will help you to diversify your crypto portfolio.
The initialization process of decentralized finance is the primary function of an airdrop.
What to do with Crypto Airdrop?
Free money! How does that sound? Exactly, that is what you can do with an airdrop. Crypto airdrop rewards you with some of their shares in exchange for some easy tasks, such as signing up on their website, following on Twitter, Instagram, Facebook, etc., and several other different ways. However, free money is just a strategy by companies to promote their cryptocurrencies and bring exposure, so if you’re a crypto enthusiast then you might participate in a cryptocurrency airdrop after going through a lot of factors such as vision, aim, future potential, etc. of a particular cryptocurrency. OAH COIN is one such cryptocurrency that functions in the same field with a different approach and vision towards the tech.
When talking about the airdrop, you need to be well prepared, well informed, and cautious, as well. That is because of fraudulent scams taking place in the name of the crypto airdrop.
How to identify Genuine Airdrops?
When participating in an airdrop, you should have done some basic brief or detailed research of the crypto you are going after. Primary precautions to stay away from fraudulent complexions:
• Never give anyone access to your digital world private key.
• Check the reliability and backing of the project.
• Never pay for an airdrop.
• Be conservative with KYC (Know Your Customer) procedures.
• Do some research about the professionalism of the company behind the airdrop.
Why Cryptocurrency Airdrops?
There could be several reasons and strategies behind crypto airdrops in the Defi tech industry. However, the most obvious reasons go something like this:
- Genuine distribution of crypto to make the platform truly decentralized: As mentioned above crypto is all about a decentralized holding pattern and hence, it becomes very important to verify the credibility of crypto and an airdrop plays a part in it.
- Rewarding Strategy: Another reason for cryptocurrency airdrop is to make ICO (Initial Coin Offering) more interesting by rewarding existing and new loyal investors.
- Exposure: Crypto, most probably the fastest growing sector since the last few years, is one of the best places to get exposure to one’s company financially as well as professionally. This is one of the reasons to airdrop cryptocurrencies.
- Marketing and Creating Scarcity: Offering free cryptocurrencies is surely one of the best tried and tested ways to do marketing of crypto and sometimes of Initial Coin Offerings as well. Distribution of crypto coins/tokens, so that to increase liquidity in the functional system and create scarcity is another outcome of cryptocurrency airdrop.
How to get to such Events of Airdrop?
To get information about the crypto airdrops taking place in the market, you will need to closely follow the daily updates regarding the crypto world via the following websites or media handles, either official handles of the company or verified handles and websites.
Another way is by using tools like auto airdrop. Such tools help you to do all the participation and other work on their own and diversify your crypto portfolio. But to do all this they are going to charge some fees for sure.
Should You Go With airdrops?
Depends on you!
Airdrops have a lot of future potential, but as well as carry the threat of fraudulent scams. However, if proper information is provided and analyzed, spending your few minutes in crypto airdrops may be more rewarding than the worth. Supporting the aim, vision, and loyalty towards the firm remains at the top to answer when it comes to the question of whether one should get into crypto airdrops or not.
Concluding the talk, crypto airdrop history has been positive for a good number of investors. Getting a digital asset that has some potential future value is worth it. Other than that getting some privileges in ICO and crypto launch in some cases is another tempting and legitimate reason which can be justified to participate in airdrops. Without proper information and research losing your money in scams may still work as resistance in diversifying your crypto portfolio.
OAH FAMILY has their cryptocurrency known as OAH COIN and you can volunteer for them by participating in airdrop, ICO, Coin launch, etc., and become a member of the family by signing up on their website and following social media platforms including Facebook, Instagram, Twitter, YouTube, Telegram, etc.