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Explained: What are crypto airdrops and how do they work?
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cnbctv18.comIn the world of cryptocurrency, airdrops are a marketing strategy used by blockchain-based startups to incentivise the use of their platform. It involves providing free coins or tokens to users with public crypto wallets to promote a new virtual currency.
It is similar to distributing free samples of an item in a supermarket to promote sales.Airdrops are usually a part of a broader marketing strategy that involves social media promotion, blog posts, and different levels of crypto holder participation. At times, airdrops can also be used as ploys for nefarious activities.
So users need to be careful. Since they are supposed to be promotional tools, you must stay alert if a project seeks any investments.How do airdrops work?New
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