In this fast-moving crypto world, Airdrops are playing a great role in dispersing the tokens of your blockchain projects to potential users as well as prospective investors. A Crypto airdrop is basically a free giveaway of tokens or coins, typically carried out as an advertising strategy to introduce the product and/or encourage its adoption among target users. This is a beginner’s guide to how you can get started making money with crypto airdrops. To give you an idea of how to get cryptocurrency airdrops and use this one-of-a-kind chance in the crypto world as it is supposed, we are providing our picks on what can spark 2019.
Understanding Crypto Airdrops.
How Do You Get A Crypto AirDrop Turned? Before you begin learning how to get cryptocurrency airdrops, first let us understand what they are. Airdrops are currently one of the popular ways for a blockchain project to deliver its tokens in bulk from many wallets. These distributions can come in different shapes and sizes, from holding a certain minimum quantity of cryptocurrency to completing specific network tasks or just simply being an active community member. For a few lucky thousands in the crypto world, an airdropped token or coin comes as part of the territory; it is used either to reward early adopters who have been active users on that platform or, more likely, just for raising awareness about yet another new cryptocurrency.
StandardAirdrops, Bounty Airdrops, Exclusive Airdrops and Hard Fork teardrops are some types of airdrops. Each has different criteria and distributions. Knowing the different kinds of airdrops can make you realize what would be ideal for your taste.
Setting Up a Crypto Wallet.
This also works to your advantage in that you have a suitably compatible cryptocurrency wallet, which is necessary for you to get the obligatory coin airdrops. As most of the airdrops are dropped on the Ethereum blockchain, having an ERC-20 supporting wallet is crucial. The most popular are Web3-based wallets like MetaMask, TrustWallet and MyEtherWallet. It can receive and securely store both of these different tokens;
When you create your wallet, it is important that the private keys and recovery phrases are kept under strong protection. These are your crypto assets and in case you lose access to these keys, nobody will be able to find them for you. Note: Keep this data secured and do not tell anyone about it.
Where to Get Updates and Track Projects.
Knowing about crypto airdrops is among the most important things when it comes to receiving them. There are new airdrops every time it is announced in the crypto space, so keep up with their trends! If you are looking to make the most of new opportunities, follow crypto news sites and forums regarding airdrops or newsletters revolving around this topic. You can find airdrops on websites like Airdrop Alert or AirdropBob and even on CoinMarketCap (airdrop section).
Outside of these two platforms, specific projects will largely be updating on Twitter (and testing news here), Telegram and Discord. In fact, a lot of blockchain projects are known to do announcements via their community for the same and hence can give you one foot ahead in having access to tokens.
Meeting Airdrop Requirements.
There are varying conditions for each airdrop you need to complete in order to qualify for their distribution. The specifics of what constitutes an airdrop can differ greatly depending on the type. For example, some may be required to hold a certain wallet balance of the coin (a dip into ledger extension) or complete some specific tasks like retweeting about that coin somewhere on social media.
You must read the airdrops details and all requirements of each one to get every airdrop token that belongs to you. There will be a snapshot date for some projects which they use as the cut off point to determine all eligible wallets. Until that date, verify your wallet to be eligible for the airdrop.
Participation in Community and Platforms.
Getting involved on blockchain communities and platforms can definitely pay dividends in receiving airdrops. For their part, many projects incentivize users to help out in other ways with a reward (example – if you share the links or opinions) And here, it is possible for you to get the airdrops in these communities that are not offered by the public.
In addition to community engagement, some platforms do airdrops in the form of staking or liquidity-mining rewards. Some DeFi platforms may also reward users of staked tokens or liquidity providers with an additional airdrop. In addition to that, this could become a great side income in the form of passive gains and potentially open yourself up for any future airdrops.
Use More Wallets and Diversify.
Use Multiple Wallets: One of the easiest ways to reduce your chances of missing cryptocurrency airdrops is by having a variety of wallets every time earning free tokens. There are some projects which grant airdrops through random selection or specific wallet criteria, and having multiple wallets increases your probability of being chosen. That said, running multiple wallets is a rather manual chore and it is vital to organize yourself as well as know which wallet you can actually claim rewards from.
You can also boost your airdrop prospects by diversifying your holdings into different blockchains and ecosystems. Although airdrops based on the Ethereum blockchain are generally more common, there exist many other blockchains with their own ecosystems for distributing so-called airdropped tokens — Binance Smart Chain (BSC), Solana and Polkadot, among others. Secrecy is the lifeblood of scamming, and you hold their coins on different blockchains.
Precautions to Avoid Scams and Be Safe.
Be wary of potential scams, such as any online activity, but especially in the world of crypto. This popularity has also brought crooks who design fake airdrops to lure you in and either get your funds or identify information. Whenever someone offers you an airdrop that requires private keys, sends anything on your part or promises abnormally high rewards — those are all red flags.
All the airdrops that ask for your private keys and demand payment as requirements are major scams. If something appears to be too good, it is better avoided. Also, verify airdrop by official channels before it’s too late. The point is there are a lot of scammers who could as well clone existing projects and make websites or social media profiles with these phoney accounts, so you have to be very careful.
Airdrops Tokens Tracking.
After you begin getting the airdrop ten, it is your duty to make certain they are warm on them. Newer or lesser-known tokens may not appear in your wallet right away. Note: You might need to manually add the tokens to your wallet using their contract address (available on the Etherscan website or from the project’s official website).
Plus, the worth of airdrop tokens can change wildly, so you should keep an eye out for how they perform. Success will be different for every token. Some may gain value over time, and others, well, will continue to languish in obscurity long after any PR reached them the first day it issued a press release or entered THE hype machine. The boons of these decentralized developments came to the fore in 2017 with ICOs (Initial Coin Offerings), where one could buy tokens directly using dollars, euros or other national currencies depending on your investment position, which you can choose to keep those assets into transformational services for exchange when freedom was unleashed.
Joining Governance and DAO Drops.
Decentralized Autonomous Organizations (DAOs) and governance tokens have been growing in popularity within the crypto verse. A few projects reward governance tokens via airdrops to users that have engaged with the platform or advocated for it in different fashions. And often these tokens grant some voting rights within the project, so token holders can influence its future direction.
Governance: By participating in governance or other DAO-related activities, you can qualify for these kinds of airdrops. You can earn governance tokens by staking, voting on proposals or participating in a project’s development. Not only as a token that can be worth something in the market but also potentially change your voice within the project governance.
You are thinking for the long term if you want to get that airdrop.
On the one hand, collecting crypto airdrops is an entertaining and profitable way of receiving free tokens; however, on the other side, gaining interest using effective strategies will yield more dividends in the long term. Those who do best in this world are those who keep an eye out, become involved in communities and tidy up their wallets and systems meticulously. Stop chasing every airdrop: Here are examples of projects aligned with your interests that also have enormous potential for growth.
Long term strategies for airdrops are continually learning as well. The crypto field is a rapidly changing one, and new technologies, platforms or money-making schemes pop up every day. So by keeping tabs and evolving alongside the ecosystem, you are ready for more potential airdrops yet to come.
Conclusion.
Crypto airdrops provide an excellent way to earn free tokens and participate in some interesting blockchain projects. Knowing how airdrops function, keeping up to date on developments and participating in community discussions means your potential is maximized for receiving profitable tokens. If you are a well-versed cryptocurrency aficionado or new to the crypto world, these strategies can help guide your way through the maze of blockchain-powered giveaways that could prove favorable during this uptrend.