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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. These freebies are frequently referred to as airdrops.
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. Because you receive free cryptocurrency and the company receives free publicity, this proposition offers a win-win situation. Other airdrops will pay you only for owning a particular coin, with no expectation of payment in return.
Why are crypto companies giving away free coins through airdrops?
Cryptocurrencies are only valuable because people trust them and value them. A coin is more likely to gain popularity and increase in value the more people who own it. The endowment effect, a phenomena where people would assign value to items simply because they own them, accounts for why airdrops are successful.
A DeFi project can spread the word about their idea, token sale, or pre-ICO for little or no expense by holding a reward airdrop. Social media initiatives make the project visible to people who otherwise wouldn’t be aware of it. 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. Furthermore, trustworthy projects can also encourage users to hold (HODL) their coin for the long term by rewarding token owners with free airdrops. This can significantly lessen the coin’s selling pressure.
Top Crypto Airdrops in the year 2023
- Phemex xPT Pre-mining Event
The transparent and secure Web 3.0 realm of Phemexia is accessible to all users on July 6, 2023. Now, anyone can create their own distinctive Phemex Soul Pass and enjoy the privilege of taking part in the xPT Pre-mining event to gain early access to the future Phemex Token. The most significant advantage of minting a Phemex Soul Pass right now is that you will automatically be a part of the xPT Pre-Mining event. You will receive free xPT airdrops based on your Phemex trading activity of USDT-, BTC-, and ETH-margined contracts. When the platform token releases later this year, xPT will be converted 1:1 into on-chain Phemex Tokens.
- HexHash
A Web3 infrastructure business called HexHash seeks to improve the way credential data networks now function. The team’s goal is to arm developers with the resources and tools they need to spread the use of cryptocurrency. In order to achieve this, HexHash is holding a $100,000 exclusive promotion with a goal of awarding 1 million HEXH tokens to participants. You must fill out the airdrop form and complete the four social chores given in order to take part in the promotion.
- FunFund DAO
FunFund DAO is a meme project that combines three principles under one tent, allowing users to communicate with one another through the ecosystem’s amusing memes and comic characters. A total of 100,000,000 $FUND tokens are up for grabs until July 20!
- Joystream
The Joystream Network is a social graph of people, information, relationships, metadata, and data assets that anyone and everyone may read and write. The project intends to provide $JOY to active contest participants as a drop. The more people who participate, the more likely they are to win future giveaways.
Conclusion: How to catch the latest airdrops?
Utilizing dedicated crypto airdrop websites is one of the simplest methods to remain up to date on the newest airdrops. The top 5 airdrop websites are usually regarded as AirdropAlert, Airdrops.io, AirdropMob, AirdropKing.io, and AirDropBob. It is recommended that you test out all of the aforementioned crypto airdrop platforms before choosing one as the favorite because they each offer different benefits.
While taking part in crypto airdrops can be risk-free, there are potential downsides as well. It is crucial to keep in mind that not all airdrops are legitimate and some could be frauds. The most secure event and biggest opportunity currently still remains xPT Pre-Mining from Phemex, because it allows you to pick up xPT with high growth potential just for trading. As a result, it is crucial to conduct your own investigation and confirm that you are taking part in an authentic airdrop from a reliable project.
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