Crypto Airdrop: is the distribution of a cryptocurrency token or coin usually for free, to a large number of wallet addresses. Airdrops are primarily conducted by cryptocurrency start-ups as a marketing strategy to attract new users to their project and increase their user base. They can also be used by established cryptocurrencies as a way to give back to their community or to increase the adoption of their cryptocurrency.Crypto Airdrop: is the distribution of a cryptocurrency token or coin usually for free, to a large number of wallet addresses. Airdrops are primarily conducted by cryptocurrency start-ups as a marketing strategy to attract new users to their project and increase their user base. They can also be used by established cryptocurrencies as a way to give back to their community or to increase the adoption of their cryptocurrency.
There are a few different ways that airdrops can be conducted. One common method is for the company to take a snapshot of the blockchain at a certain block height, and then distribute tokens to all the wallets that held a certain cryptocurrency at that time. Another method is for the company to ask users to sign up on their website and provide their wallet address in order to receive the airdrop.
Airdrops can be a good way for users to get free tokens and potentially make a profit if the value of the tokens increases after the airdrop.
However, it's important to be cautious when participating in airdrops, as scams do exist and some airdrops may require users to give away personal information or send a small amount of cryptocurrency to participate. It's always a good idea to do your own research and only participate in airdrops from reputable sources.
Types of Airdrops
a. Bounty airdrop: A bounty airdrop requires users to complete certain tasks, such as sharing a post about the project on social media handles and tagging friends. To claim a bounty airdrop, you'll likely be asked to fill out a form with your wallet address and provide proof that you completed the tasks.
b. Exclusive airdrop: An exclusive airdrop only sends crypto to designated wallets. Typically, to an active community member or an early supporter of the project.
c. Holder airdrop: Holder airdrops distribute free tokens to those that hold a certain amount of digital currencies in their wallet per time in proportion to their quantity of token held on Cex echanges.
d. Snapshot airdrops: In this type of airdrop, the company takes a snapshot of the blockchain at a certain block height and distributes tokens to all the wallets that held a certain cryptocurrency at that time.
e. Affiliate airdrops: In this type of airdrop, users are required to sign up on the company's website and provide their wallet address in order to receive the airdrop. Some airdrops may also require users to complete certain tasks or refer other users in order to be eligible for the airdrop.
f. Hard fork airdrops: In this type of airdrop, a new cryptocurrency is created from an existing blockchain and is distributed to the holders of the original cryptocurrency.
g. ICO airdrops: Some initial coin offerings (ICOs) will conduct an airdrop as part of their fundraising efforts. In this case, users may be required to contribute a certain amount of cryptocurrency in order to be eligible for the airdrop.
h. Testnet Airdrops: are tokens you are given after you test out a projectās features BEFORE it goes live on a mainnet. It would require you to switch metamask to a different network āspecifically to the testnet where you will be given worthless tokens to test their network based on their built-in projects on the protocol. You will need those tokens from the testnet faucet (sites that gives free tokens).
Note the followings;
1. You must have a wallet to claim crypto airdrops. example, trust wallet or metamask wallet.
2. Scam airdrops abound. Before you participate in an airdrop, DYOR, check the projects site to ascertain if they are currently doing it. Preferably open a separate wallet and email for airdrops to avoid being scammed.
3. Timing is important in accessing airdrops, the first 1000-2000 participants stands a better chance
4. Ethereum and Solana airdrops have better chances of doing well
Criterias for Profitable Airdrops:
ā¢ How big the protocol/chain that is giving the airdrops is: This gives a sneak peak of how much the token will be at launch.
ā¢ How many tokens are they airdropping: Some protocols airdrops 5% of their supply while others a lot more. The lesser the wallets receiving the airdrops the greater the value of that asset, so small cap airdrops are better.
Lists of Sites to find Airdrops
Some options include:Some options include:
1. Airdrop Alert: This is a website that keeps track of airdrops and lists them in an easy-to-use format. Users can filter airdrops by category and view more information about each airdrop, including the value of the tokens being distributed and the requirements for participating.
2. AirdropBob: This is another website that lists airdrops and allows users to filter by category. It also has a feature that allows users to track their airdrops and see how much they have earned.
3. Airdrops.io: This website lists airdrops and also has a section for bounty airdrops, which are airdrops that require users to complete certain tasks in order to receive the tokens.
4. Airdrops.com: This is a website that lists airdrops and also has a section for ICO airdrops, which are airdrops that are conducted as part of an initial coin offering.
5. Telegram: Many crypto airdrops are announced and coordinated through Telegram groups. Connect with them and be informed
6. Coinmarketcal.com
7. Coingecko
8. http://gitcoin.com
9. www.freeairdrop.io
10. https://coinowl.io/token-unlock
11. Airdropking.io
12. Airdrop Alert
13. AirdropsMob
14. Twitter: search for #airdrops, #Solana airdrops, #Testnet airdrops, #NFT airdrops
15. You can also get airdrops in centralized exchanges via staking of other coins/token.
16. DefiLlama airdrop page: it gives lists of token-less protocols that could potentially do airdrop in the nearest future (though may not be guaranteed).
17. Cosmos airdrop tracker (NETA, JUNO OSMO etc). Site- https://cosmosairdrops.io. This site gives information about requirements, dates for snapshots and when tokens are claimable.
18. Follow these Twitter airdrop influencers;
ā¢ @coderstechAI
ā¢ @OlimpioCrypto
ā¢ @cosmos_airdrops
ā¢ @Airfrops_one
ā¢ @corleonescrypto
General Airdrop tips
ā¢ Look for projects that are either launching soon or operating without a token
ā¢ Be a user of such protocols when you find one. They always want to distribute their tokens to people that are actually using their products. Get on testnet!
Conclusion: Airdrops are is one of the easiest ways to make money in cryptocurrency without any investment. Though It's important to note that there are also scams that purport to be airdrops, so it's always a good idea to do your own research and only participate in airdrops from reputable sources.