Q: What is Airdrop?
A: Airdrop refers to the free distribution of small amounts of a certain virtual currency tokens to its community members either for free or for performing small tasks.
In the cryptocurrency world, airdrop refers to a procedure through which a blockchain project distributes free tokens to community members.
To qualify for the free gift, one may need to hold a minimum quantity of the cryptocoins in his/her wallet, or may need to perform certain tasks that include posting on social media forums, connecting with a particular member of the blockchain project, or writing a blog post.
Airdrop can be viewed as a promotional activity mostly performed by blockchain-based startups to bootstrap their virtual currency projects. Its aim is to spread awareness about the cryptocurrency project, and to get the maximum people in the game. For instance, CloudBounce, a decentralized AI audio ecosystem, airdropped 8 million DB tokens to its community members in March 2018 (Refer: Investopedia)
Q: What do I need to join Airdrop?
A: You just need ERC-20 Compatible wallets(see Compatible wallets below), and most of the social media accounts like Facebook, Twitter, Bitcointalk, Linkedin, Reddit, Instagram, Telegram, VK, Medium, Youtube, etc.
The following wallets are known to be compatible with Ethereum tokens (ERC-20 standard):
- MyEtherWallet (no download needed)
- MetaMask (Firefox and Chrome browser addon) Recommended
- Mist (Desktop)
- Parity (Desktop)
- imToken (iPhone)
- imToken (Android)
- Coinomi (Android)
- Coinomi (iPhone)
The following hardware wallets are also known to be compatible with Ethereum tokens.
Some ICO/Tokens need other wallet (see below):
Enjoy hunting airdrops!!!