Bybit has a system called airdrop. This is a feature only for virtual currency exchanges, not forex companies, so many people feel that it is very rare. If you know about airdrops, the number of people who are interested in virtual currency will increase.
- What is airdrop?
- Airdrops on Bybit
- Benefits of participating in airdrop
- Disadvantages of participating in airdrops
- Open an account for free
What is airdrop?
Airdrop is a marketing campaign conducted by virtual currency operators to promote ICOs and secure currency liquidity. We will conduct some kind of campaign to get participants to invest. Participants benefit. Airdrops allow users to receive virtual currency for free by meeting certain conditions.
there is a condition
Airdrops are not always available for everyone. In most cases, the timing is fixed, and the method of participation is limited in most cases. It is a mechanism that users who meet the conditions can participate.
Big profit when price rises
Participants who have purchased the currency in advance may make money by holding the coin and increasing the value of the coin after listing. However, there are many coins that crash after listing, so it can be said that this is a kind of bet.
get tokens for free
As a participant, you have the chance to win tokens for free. Many of the coins that are running airdrop campaigns are unnamed coins, but there are also cases where coins are distributed for free, so there is a chance to make money.
Airdrops on Bybit
Bybit holds airdrop campaigns quite frequently among cryptocurrency exchanges. The content of the airdrop varies depending on the time, so it is necessary to check the content itself, but in the past the following campaigns were held. You should check the official page for current airdrops.
XRPUSDT Unlimited Airdrop
Bybit held a campaign to receive a position of 100 USDT for the first time to use the USDT perpetual contract position. It was that you could get an airdrop just by having a free position with a USDT perpetual contract.
LUNAUSOD Unlimited Airdrops
Bybit had an airdrop campaign limited to those who had never held a USDT perpetual contract position. The airdrop was that you could earn just by holding a position with LUNAUSDT perpetual contract.
Benefits of participating in airdrop
Airdrops have the following advantages:
Airdrops are a type of campaign that have the advantage of being profitable without having to take any risks. Investing often involves some kind of risk, but airdrops are often free of charge, so the advantage is that there are no disadvantages to not participating, only advantages.
profit if sold
You can also receive tokens for free through airdrops. If you sell the tokens you own when the price rises, you will make a profit. Therefore, it is necessary to carefully consider the timing, but it can be said to be a great opportunity as you can aim for big profits.
No principal required
Airdrops are often free to participate. In most cases, investment requires the principal, but there are many cases where you don’t even need the funds in the first place, as there is a chance to obtain it without needing it.
Disadvantages of participating in airdrops
Airdrops also have their downsides.
not necessarily rise in price
The coins you own do not necessarily rise in value. Absolutely no investment. It is better to participate after understanding that airdrops are not always profitable, as there may be losses.
Possibility of personal information leakage and fraud
It’s not Bybit’s story, but other cryptocurrency exchanges have had their personal information leaked before. It is important to be careful, as airdrops can also be fraudulent and expose personal information. The management side may be aiming to steal investor information.
Using airdrops may incur taxes. Most of the virtual currencies and tokens that can be obtained from airdrops do not have a market value, so there is no tax.
Participation of minors
This depends on the contents of the virtual currency exchange and airdrop campaign, but there are many cases where minors cannot participate. Airdrop campaigns are mainly required to open an account. In general, exchanges do not allow minors to open accounts. This means that you cannot participate.
Open an account for free
Bybit is one of the most famous cryptocurrency exchanges in the world. The registration process will be completed in about 1 minute, so you can easily open it. You can also open an account for free as it does not cost money. It also comes with a bonus.