What’s an Airdrop?

Free money.

They say money doesn’t grow on trees, but it does fall from the sky from time to time. An airdrop is a strategy used to distribute and spread awareness of a particular coin. Essentially, a team behind a coin will use a small percentage of their total coin supply to distribute among those who are hodling another coin at a given point in time.

Ethereum has had many airdrops because of the number of ICOs launched on top of their platform. If you held any ETH in your local wallet, not on an exchange (typically), you received a specific amount of coins based on the amount of ETH you held in your wallet when they took a snapshot.

For more information on what you’ll need to get free money, check out WTF is an Airdrop? A Detailed Guide to Free Cryptocurrency. For now, let’s take a look at a few airdrops we’re watching:

GALA

This is for the NEO hodlers out there. If you have a NEO wallet and you deposit ZPTs, you will receive GALA. The first snapshot was made on March 1, 2018, but the second will be March 15, 2018.

CPS

We touched on this one a bit in CPS Coin – Syscoin’s First Airdrop. The airdrop consists of two parts:

March 17, 2018 – According to the website, “A snapshot of all Coinpayments accounts will be taken. Each of those accounts will receive 100 free CPS Coins and will also be eligible for an additional 25 CPS Coins for each new user referred.”

June 1, 2018 – “A snapshot of all Syscoin wallet addresses linked to Syscoin alisases will be taken. 6% of the total CPS Coin supply will be distributed to each of these addresses, proportionate to the balance of Syscoin held at the time of the snapshot.”

EOS

If you’re hodling over 100 EOS tokens on April 15, 2018, you will receive 1 eosDAC token for each EOS token you hodl. They will be transferred directly into your Ethereum wallet. The eosDAC token is currently on the Ethereum blockchain, so you’ll need an ERC-20 compatible wallet.

Conclusion

Airdrops are easy money. If you already have a wallet with one of these tokens, be on the lookout! If you’re interested in browsing around for other airdrops, one tool we like is coinmarketcal.com. You can search by token, date, event type, and more.

Let us know what you think in the comments!

 


BC

Editor-in-Chief of CryptoFizz, graphic/web designer, blockchain enthusiast, and semi-pro chef.

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