Binance, Exchanges

What Is an Airdrop on Binance?

An airdrop is when a blockchain project distributes free tokens or coins to the cryptocurrency community. Airdrops are primarily conducted as a marketing strategy to gain attention and new followers.

They can also be used to bootstrap a new cryptocurrency project by distributing the initial coins widely. Binance is one of the most popular cryptocurrency exchanges and it offers an airdrop program for its users.

NOTE: WARNING: Airdrops on Binance, although potentially beneficial, can involve high risk. If you choose to participate in an airdrop on Binance, make sure that you understand the project and its associated risks before investing any money. Do your own research and make sure you are fully aware of any potential risks associated with participating in the airdrop. Additionally, always take appropriate security measures to protect your information and accounts.

The Binance airdrop program is called “Community Coin of the Month”. Every month, Binance lists a new coin on their platform and gives away free tokens to users who hold certain amounts of other cryptocurrencies on the exchange. For example, in February 2021, Binance listed the Fetch.

AI token and gave away 1,000 FET tokens to each user who held at least 10 NEO on the exchange. The airdrop was conducted over two weeks and users could claim their tokens at any time during that period.

Airdrops are a great way to get free tokens and learn about new projects in the cryptocurrency space. If you’re holding onto any major cryptocurrencies, it’s worth checking if there are any upcoming airdrops that you can participate in.

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