Airdrop (cryptocurrency)
An airdrop 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.
Overview
Airdrops aim to take advantage of network effect by engaging existing holders of a particular blockchain-based currency, such as Bitcoin or Ethereum in their currency or project.[1][2]
In the United States, the practice has raised questions about tax liabilities and whether they amount to income or capital gains.[3][4]
References
- Bogart, Spencer (2017-10-08). "The Trend That Is Increasing The Urgency Of Owning Bitcoin And Ethereum". Forbes.com.
- BJORØY, Trond Vidar (2017-09-06). "The latest crypto PR craze: 'Airdropping' free coins into your wallet". venturebeat.com.
- "Bitcoin Is on a Collision Course With the IRS". Fortune. Retrieved 2018-01-17.
- "Bitcoin Tax Laws Are A Nightmare So People Ignore Them". International Business Times. 2017-11-16. Retrieved 2018-01-17.
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