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For the purpose of spreading awareness of a cryptocurrency and encouraging its widespread use, an airdrop is a promotional campaign that expedites its distribution.

What is Crypto Airdrop?

When referring to a method of distributing cryptocurrency to the general public, the term “airdrop” refers to the practice of doing so through the possession of other tokens or wallets on a specific blockchain. It’s usually done for marketing purposes to encourage token holders to participate in the blockchain network or hold other tokens.

The majority of airdrops require participants to hold a certain number of tokens in a publicly accessible wallet at a predetermined time (snapshot time). The airdrop tokens would then be distributed in accordance with the snapshot by the token project conducting the airdrop.

Using airdrops, users can diversify their cryptocurrency holdings, spread awareness of the airdropped token, and earn a dividend that is very effective (of their previous holdings). In most airdrop campaigns, simple tasks like sharing news, referring friends, or downloading an app are exchanged for coins or tokens.

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