An event where coins or tokens are sent to selected users’ digital wallets. It is a famous marketing stunt to create a buzz about a new token. Airdrops get people excited about the new token so they will start trading it the moment it gets listed. Some of the Bitcoin miners had forked on August 1st, 2017 to create a new chain called Bitcoin Cash. This did not impact Bitcoin balances, but instead created new token- BCH. At the time of the fork, all Bitcoin addresses holding a balance had automatically earned equivalent balances in Bitcoin Cash. The automatically earning part is the ‘airdrop’!
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