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Free Crypto Coin "Airdrops" May Be The Trend In 2018

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Some investors have already started seeing unexpected bulgesin their cryptocurrency wallets and this could be the trend in 2018. Customers have been delivered free crypto coins in their wallets through what is called "Airdrops".

"In certain ways people are getting free lottery tickets. There will be a tsunami of airdrops this year," reported quoted Matthew Roszak, chairman of the blockchain advocacy group Chamber of Digital Commerce, as saying.

Amid the increasing regulations for Initial Coin Offerings (ICO), blockchain startups have been recently forgoing ICOs in favor of giving away free coins in airdrops to the crypto community, while raising more of their funds through private sales.

A cryptocurrency airdrop is a free crypto coin giveaway by a blockchain project to the crypto community. This has been the recent trend while launching a new cryptocurrency in order to attract interest in their coin and begin to build their community. A new marketing tool adopted by digital currency developers to encourage mass adoption.

It's a common practice for new cryptocurrency to reward early adopters by reserving a portion of their coin supply for free distribution to owners of other existing coins like Bitcoin, Litecoin, Ripple or Ethereum.

There are new cryptocurrencies starting every day, and at least a few new cryptocurrencies hand out free coins daily. However, not all coin developers adopt this marketing tool.

Sometimes, crypto coins are also given out free when you perform an action such as site registration, following a social account, messaging a bot, etc. This is generally referred to as a Bounty.

Airdrops are generally delivered in several ways, including forks, ICOs, and freebies. For example, a hard fork of Bitcoin, Bitcoin Cash, gave current Bitcoin holders an equivalent amount of Bitcoin Cash in August 2017. Investors would have gained tremendously due to the high price of bitcoin cash.

Investors in another cryptocurrency Neo were earlier in the month given another free coin called ontology, which recently began trading on Hong Kong-based crypto exchange Binance.

The airdrop trend has been there for quite some time . In the early days of Bitcoin, there was a 'Bitcoin Faucet', which gave away 5 Bitcoins per visitor. This was essentially a Bitcoin Airdrop.

However, established cryptocurrencies such as bitcoin, Litecoin, Ripple or Ethereum now no longer give away coins as they are simply valued higher.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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