What is CoinMarketCap and how does it work?

What is CoinMarketCap? CoinMarketCap is a website that focuses on providing information about crypto assets. Some of the information that you will see on the website includes – the current market price of a crypto asset, charts, crypto analysis, crypto news, and of course airdrops.

What is a crypto airdrop?

A crypto airdrop is usually a marketing tactic that uses the free distribution of new cryptocurrency tokens to drive awareness and build communities quickly, as well as help to put an early value to a token as recipients may begin to trade their airdropped tokens.

What are token airdrops?

Token airdrops involve the distribution of new tokens on a blockchain network. Token airdrops are typically used to promote a new cryptocurrency project and can be used to distribute tokens to investors, the community or other stakeholders.

How do airdrops work?

Airdrops are generally promoted on the company's website, social media, and cryptocurrency forums. Coins or tokens are sent only to specific wallets based on the blockchain network or coins held in existing wallets. To qualify for the free gift, a recipient may need to hold a minimum quantity of the crypto coins in their wallet.