In this article, we are going to clarify terms which are sometimes used by the token teams, asking exchanges to participate in forks, stakes, airdrops, giveaways or promotions.
Fork
In general, Bitpanda does not automatically support forks of any cryptographic blockchain-based digital information units and assesses each fork on a case by case basis. We only support forks if we have officially announced this beforehand.
A fork is a situation in which a blockchain irreversibly splits into two separate chains. Forks have been used in cryptocurrencies in order to add new features to a blockchain or to reverse the effects of hacking or catastrophic bugs on a blockchain.
You can find further information in our Bitpanda Fork Policy.
Staking
Staking is the process of the proof-of-stake distribution, whereby tokens are distributed based on how many tokens a user already has. While most proof-of-stake coins distribute the reward in the same cryptocurrency (like for instance EOS with so-called delegated proof-of-stake), some coins distribute the reward in another cryptocurrency (like for instance NEO with GAS).
Bitpanda now offers the opportunity to earn weekly rewards by staking your assets with just one button. For all the information on our feature, please check out the following pages:
Learn more about our trade only mode and why transactions are not yet available for some cryptocurrencies. You can find more information on why a cryptocurrency transaction might be disabled, in this article.
Airdrop
Airdrops may be used to create a community of token holders who can begin trading a token and wish to create a market for wider adoption of the token. They occur when token creators distribute free tokens to communities or holders of other established tokens.
For any airdrop from someone other than Bitpanda, Bitpanda does not automatically credit any token or any other digital information unit to the respective Bitpanda Client Account. Bitpanda does not advise on other airdrops or on ways to participate in airdrops.
You can find further information in our terms and conditions.
Giveaways or Promotions
They are similar to airdrops, but the criteria often do not require recipients to own established tokens or to be part of specific communities. Giveaways may require recipients to use specific wallets.
Learn more on how to spot online scams.