Why Giveaways Can Make Or Break Your Crypto

If you are involved in the Crypto community in some way or fashion, you have probably noticed that there are either a lot of giveaways going on, or nothing at all is happening with some of the coins you like. While this may be annoying or frustrating to some extend, there is a very good reason why things are that way. Ever wondered why? You are about to find out….

When a new coin is released, it is pretty common to start with one or multiple giveaway contest(s). It is a proper way to both market your coin to people who are already enthusiastic about it, as well as gathering ‘fresh’ support for your coin. At the current rate at which new coins are introduced, you’ll find a plethora of coin giveaways on forums and Twitter.

Most of these giveaways will consist of posting your coin’s wallet address, and if you are lucky, you will receive some free coins. Some of those giveaways try to take it a step further, by asking you to retweet certain Twitter messages. However, there is only so much social media can do , and as much as we love Google+, Facebook and/or Twitter, there is enough spam to work around already.

So, what is there left to do? That’s pretty simple. Take a look at the latest Earthcoin giveaway for example. It doesn’t suffice to just paste your Earthcoin address, although that is still a way to participate in the giveaway. The users themselves are handling the giveaway , by sending Earthcoins to other people’s wallets. So instead of receiving, you are gifting yourself.  Well done to Earthcoin!

Another way to make sure your giveaway will have some effect besides giving out free coins & social media spamming, is trying to get your coin listed on exchanges. One of the recent Lottocoin giveaways required that you send an E-Mail to the BTER exchange, asking them to add Lottocoin. Once you provided a screenshot of sending the E-Mail, you would receive a nice amount of Lottocoin. 

As you can see, there are a lot of different ways to handle giveaways. The least effective is just randomly handing out coins without any work or feedback in return. Getting your coins in the hands of people is one thing, but if you do not have a solid business plan going forward, people will just dump the coins at bottom prices, and your coin will die off in obscurity…..