What do you think about Bitcoin and Airdrops?
Airdrops.I’ll give you a straight answer from two perspectives.
One as an experienced marketing professional with a bit over a year of active trading experience under my belt,
and another from a participant.
Anyone reading this who may be considering launching an airdrop campaign for your coin.. understand one simple thing. Airdrops bring out the worst in cryptocurrency. Literally the worst. Don’t do them. Seriously. Just don’t.
Why? Well, ok, I’ll explain why.
- Bots. Soooooo many automated auto joins to the degree of insanity. You’ll gain 12,000 new members in 24 hours on your channel but you’ll have zero participation because none of them are real.
- You’ll gain zero actual investors. People who have money and wish to invest in your company don’t chase $1 worth of coins. There is so much work involved in doing most of these airdrops that the fact is, you could expend an equivalent amount of energy simply trading $100 worth and gaining infinitely more. Thing is, people won’t look at it like that. No one will pay attention to your coin. They’ll see you’re doing an airdrop and they’ll immediately think reason 3.
- Airdrops result in unrecoverable dips for weeks on end. You effectively fed the machine and now the machine will want to eat and people will sell and sell and sell, causing your coin price to dip…. low.. because that’s all the price action you’ll have, a bunch of sell orders being placed, one lower than the other, competing to sell off the coin and squeeze that quick return on investment… So, there is now a new problem.. your coin is severely undervalued and you’re looking like a shitcoin. Your telegram channel is completely a ghost town and your price is way below average.. not only that you’ve just given away the one thing you forced EVERYONE else to pay for during the ICO which adds insult to injury because now they resent you as well. To compound the issue, their investment just dropped in price by 30–40%.
- Now you have a ghost town for a Telegram, have expended countless hours of work managing the airdrop, expended energy promoting it and pumping it and the only thing you’ve gained is a lower price than you started with.
Need more of an explanation than that? Do I like airdrops? No. Waste of time as a marketing ploy. Completely and absolutely s*** in every capacity. For anyone else looking to participate in airdrops.. ya.. so about that.. they’re free coins.. usually like $5 here and there but every now and then you may get lucky.
If you want to run around chasing pennies then go for it.. personally, I’d rather just buy $50 of a coin and hold onto it.. it won’t be worth a retirement but it may be worth something at some point. But sure… literally free coins they send you X amount and you hold or sell. It’s used as marketing. Just be careful you aren’t trying to cash in on some shady exchange because that shady exchange may be trying to rip you off.
Article Produced By
John Gannon, Difficult to describe, easy to understand.