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.
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've 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 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).
Staking on Bitpanda is not possible. You have to withdraw your funds to a wallet where you control your private keys.
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.
Airdrops may be used to create a community of token holders who can begin trading a token and 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 advice on such other airdrops or on ways to participate in airdrops.
Bitpanda made an airdrop in April 2018 and distributed Pantos (PAN) to every Bitpanda User who participated in the Airdrop.
You can find further information in our Terms & 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.