Airdrops are a great way to get crypto. Uncover what airdrops are, how they work, and how to get the best ones. Learn how to earn free crypto with airdrops.
The boom in cryptocurrency in recent times has birthed various ways to get crypto assets. Currently, cryptocurrencies can be purchased via credit cards or by using other cryptocurrencies. However, there’s an easy and exciting way to earn crypto for free – airdrops.
The first crypto airdrop is believed to have happened on March 25, 2014, with the distribution of the AuroraCoin. Airdrops have become more popular, with many people on the lookout for new crypto distributions.
To make the most of this exciting opportunity, it’s important to know how they work. This article dives into what airdrops are, how they work, and how to earn free airdrops.
Airdrops – An Easy Entry Point to Cryptocurrency
Airdrops refer to free distributions of crypto coins or tokens as a marketing strategy by blockchain-based projects. The common reason for airdrops is to raise awareness about new crypto projects.
However, some existing crypto projects reward their long-term members using airdrops. In other cases, they can serve as a reward for completing certain tasks, such as sharing or liking a crypto post. Airdrops don’t work in a single way, as there are different types.
Here are the major airdrop types and how they work.
- Standard Airdrops: Standard airdrops are free and easy. There’s no need to take part in any task except for opening an account. Usually, they operate on a first come first served basis. To get this type of airdrop, all you need is to join the project quickly. Also, the supply of tokens in this airdrop type is usually fixed and low.
- Bounty Airdrops: Bounty airdrops require potential beneficiaries to perform little tasks and small favors to earn free crypto. The usual tasks are promoting the project, such as commenting and sharing the project on social media or following their accounts across platforms.
For example, Foodie NFT posted a to-do list to win their $75,000 worth of airdrop. Bounty airdrops however have high competition.
- Holder Airdrops: In this type, only users who hold or accumulate a defined amount of tokens win free crypto coins or tokens. They’re also known as Snapshot Airdrops, as the developers take a wide snapshot of user wallets on the blockchain at a specific time to determine the eligible users. Holder airdrops are passive since you do not need to participate in any task aside from holding a specific amount of tokens in an eligible wallet.
- Raffle Airdrops: These usually occur when many users are participating in an airdrop offer. Due to the large number, the company can decide to choose winners randomly. Raffle airdrops can be used alongside many other airdrop methods, especially if the number of rewards is low.
- Testnet Airdrops: These are used to reward users who take part in testing a new project or blockchain before going live. However, they are usually more technical as you may need to run a node, report bugs, or validate transactions. The upside is the rewards may be higher.
There are other airdrop variations and combinations. Some notable ones include Bitcoin Cash in August 2017, Stellar in November 2018, and Uniswap in September 2020. These generated more awareness about airdrops and greatly impacted the crypto industry.
How to Discover Airdrops
If you don’t know the right place to look, you might find earning airdrops very difficult. However, some platforms are perfect for earning free crypto easily. Here are some popular ones.
- Airdrops.io: One of the most popular airdrop platforms. It contains an updated list of exciting airdrops and bounties. On the website, you can filter airdrops by various categories. Users can also subscribe to their newsletter to get airdrop updates.
- CoinGecko: While it majorly serves as a crypto data aggregator, the platform also features an airdrop section. You can locate airdrops by token, reward, project, and of course by date. CoinGecko also has a Telegram page for airdrop updates.
- X.com: Formerly known as Twitter, X is one of the most popular social media platforms. However, there are crypto influencers and startups that regularly post airdrop updates there. You can also earn free crypto on the platform by taking part in airdrop tasks. However, it’s important to employ discretion as there are crypto scams and fake accounts.
- Telegram: You can also find airdrops on this messaging platform by joining official crypto groups and channels.
When looking to earn airdrops, it’s crucial to be aware of the risks. Some airdrop offers might be scams or pump-and-dump schemes to deceive unsuspecting users. Ensure you do enough research before joining any new crypto project.
Top Airdrops to Watch in 2024
Many airdrop offers are happening every day across multiple platforms. However, some of these might be low quality or scams. Here’s a list of some of the airdrops you should potentially watch out for in 2024.
- Starknet: A scalable and decentralized Layer 2 solution for Ethereum, it uses zero-knowledge proofs to gain high throughput and ensure low fees and low latency. Rumors exist that the mainnet will airdrop its native token, STARK, to early users.
- zkSync: Expected to launch in 2024, you may need to use their testnet, trade tokens, or perform other tasks to qualify for this potential airdrop.
- LayerZero: The LZR token will likely go live in 2024, with talks of an airdrop as well. You can stay on the lookout for more information about the potential airdrop.
There are also other potential airdrops to look out for. However, ensure you get your information from credible sources. Also, ensure you stay updated so as not to miss out on these exciting opportunities.
How to Get Crypto Airdrops
Crypto airdrops are an attractive proposition but there are criteria users must fulfill to get their free tokens.
- Set up a crypto wallet. Participation in crypto airdrops requires a compatible wallet based on the specific blockchain or token being distributed. Two of the most popular wallets for airdrops are MetaMask wallet and Trust Wallet.
- Research and meet airdrop requirements. Always research the project behind every airdrop. Check for information on the team, roadmap, and community. Also be sure to check for potential airdrop requirements such as completing certain tasks. In most cases, you increase your chance for an airdrop by becoming an active user of the crypto project.
- Claim your airdrop tokens. Projects typically schedule the airdrop distribution for a specific period. Some may airdrop the tokens directly to the associated wallet while some projects require you to claim your tokens. This may involve using your wallet to sign a message, provide your wallet address, or complete additional verification. Following the correct process will ensure you receive your airdrop tokens in your crypto wallet.
- Utilize your airdrop tokens. It is essential to manage your airdrop tokens after receiving them. Depending on the project roadmap, you can either hold, use, or sell the tokens. It is critical to evaluate the project’s utility, future potential, and marketcap before making a decision.
Final Thoughts
Airdrops are an easy way to gain access to new crypto projects and earn free crypto tokens. With the right platforms, you can know about the latest airdrop offers. However, some airdrops may be low-quality, so you should be careful when participating in airdrop offers.
How to Get Free Airdrops: FAQ
What is a crypto airdrop?
An airdrop is a free crypto distribution, either with no conditions or after taking part in little tasks.
Why should I participate in airdrop offers?
Airdrop offers are an exciting way to earn free crypto tokens and participate in projects that can gain value over time.
How do I find airdrops?
Join official platforms that share airdrop offers to find valuable airdrops for you.
How can I avoid airdrop scams?
Only join airdrop offers from reputable sources. Avoid airdrops with unrealistic rewards and projects with no reputable website or media accounts.
