What are AIRDROPS and How to get them

AIRDROPS is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.

They are free coins or tokens that are dropped directly to your wallet or you claim. They are mostly associated with new and developing coins and tokens. They are always limited and available for a period of time.

Airdrops are not special coins or tokens, they are normal coins or token that are given to people for free as a reward for doing a task for a period of time for some specific reasons.

Recently, Binance gave out 100 TWT (trust wallet token) to everyone who claimed it by just few steps or tasks.

Examples of recent airdrops are:

v   TWT

v   1 Inch

v   Morpher

v   Uniswap

v   Serum permission

v   OnX finance

History Of Airdrops

Auroracoin(cryptocurrency for Iceland) is the first recognized airdrop distributed to Iceland citizens in March 2014.. 

The distribution, which is the very first airdrop sends 50% of the total Auroracoins to the country’s citizens, to the Icelandic residents that entered their permanent resident ID received 31.8 AUR. On March 25th the Icelandic citizens received their tokens.

Reasons for Airdrops

Airdrops are been conducted or given for several reasons which may include:

v         Generating Awareness: I believe this is the first and foremost reason for releasing airdrops, mainly for awareness. You will notice that most airdrops don’t come from already established and well known coins like BTC, ETH, XRP, they come from new and struggling coins which needs recognition.

v         Understanding the users: Some airdrops are also released by its developers to get user experience reports and also to understand if the coin/token is good enough.

v          For Rewarding Loyalty:  Some airdrops are used for compensation of its user.

v          Wider Distribution of Tokens

How to Access Airdrops

Well, accessing airdrops has no regular techniques, because the release airdrops are not predictable and also each airdrop may have a specific way or channel of distribution. But to get airdrops or to be alert and ready for airdrops you need:

v         Cryptocurrency Wallet: You need to have a wallet you will store your airdrop, not a wallet like that of binance and coinbase, but a pure wallet like trust wallet, coinbase wallet e.t.c.

v          Follow top exchanges: Then, to actually, get the airdrops, you need information about it and also to get information you need to follow top exchanges like Binance, coinbase, luno e.t.c on social media (most especially twitter) and turn on notification from them, because they then to drop information about airdrops mostly on social media.

Now, please not, airdrops are not a regular thing. It is not a style of trading and it is not an advisable thing, because it is not predictable. But, it is just an add-on and bonus.

Planning Your Cryptocurrency Trade

“If you don’t know where you are going, you’ll end up someplace else.” ― Yogi Berra, former New York Yankees catcher

Planning is thinking in advance about what is to be done when it is to be done, and how it is to be done. In otherwords, planning bridges the gap between where you are today and where you want to reach.

Planning involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives.

The importance of planning in any business or trade or endeavor cannot be over-emphasized, it is very important and essential to plan ahead.

The cryptocurrency trading space is a very volatile and highly fluctuating space in which without planning, you will just always end up losing and leaving the flourishing market frustrated and biased. You need to plan when to buy, when to sell, which percentage loss you can risk, which percentage gain is your target, all these if not noted will make your trade looks like a child’s play.

Why Plan Your Trade

Here are the reasons Why You Should Plan Your Cryptocurrency Trade:

1. Planning provides Direction: Like I said earlier, The Cryptocurrency trading space is a very volatile and highly fluctuating space. You need to have a direction. For example; If you buy an Altcoin, you have to plan ahead (with reference to the price you bought the coin), when to sell, which percentage profit you want on the coin and which percentage loss you can take on the coin. For instance; if you buy AAVE at $86, with reference to purchase price, you will have to plan which percentage profit you want; maybe 5%, that is you want to sell it at 5% of $86 + $86 which is equal to $90.3. So with a plan you have been able to make your profit.

2. Planning reduces wasteful activities: Most especially for day traders, planning makes you have focus and not just waste your time unnecessarily in the market. When you have a plan, you execute the plan and exit the trade. ASAP!

3. Focus: With proper planning, you will have focus and be able to prevent and shy-away from any unnecessary market fluctuations from affecting your profits. Even if the market is not going your way, planning makes you have a focus that will keep you positively in the market.

4. Planning controls Anxiety and Covetousness: With planning, you will be able to prevent falling into any trap or anxiety caused by the natural volatility of the market.

How do I Plan my trade?

Planning a trade differs from each other. But there are some general practices which are:

1. Note your capital

2. Have a percentage profit

3. Trade, Hit your percentage profit and exit the trade (if you wish).

Get planning, and make sure you plan every trade. ASAP!