In the cryptocurrency world, airdrops have gained significant popularity in recent years. But what exactly is an airdrop, and how can it benefit you as a beginner in the crypto space? In this blog post, we will explore the concept of airdrops, discuss their purpose, and provide valuable insights on participating and making the most out of these opportunities.
Understanding Airdrops
Airdrops refer to the distribution of free tokens or coins by blockchain projects to a specified group of individuals. Typically, these coins or tokens are distributed for projects to gain attention, increase the user base, or reward loyal supporters. The aim of an airdrop is often to generate interest and create awareness about a particular project.
How Do Airdrops Work?
Airdrops are usually executed through various methods. Some projects may require participants to complete specific tasks such as joining their social media channels, sharing content, or referring friends. Others might distribute tokens based on certain criteria, like holding a specific amount of another cryptocurrency in your wallet. Regardless of the method used, airdrops generally involve some action from participants.
Types of Airdrops
Airdrop campaign on platforms like Discord, Telegram, Discord, etc.
In this type of airdrop, tokens will be given away for free to the community, and you might not even need to perform any operations. It could be necessary to establish one account or enter your wallet address. To capture information on this Airdrop, you must keep an eye on it and have early knowledge because this kind of Airdrop might only have a limited number of tokens available.
Bounty Airdrop
To receive a bounty, you must perform additional activities. Typically, these duties involve following the project’s social media accounts, such as Twitter, Telegram, and Discord. These duties are many but not particularly challenging.
Retroactive
Retroactive airdrops are another type where tokens are given out to projects with early support, such as from platform early adopters and contributors.
Typically, past sizable airdrops for users of Uniswap, Paraswap, or, most recently, Optimism can qualify as this form of the airdrop.
Airdrop for holders of 1 token on demand or hold NFT
Users must possess 1 token or NFT on demand in order to participate in this form of the airdrop. The most recent airdrops of Aptos and Hooker Protocol (airdrops for users who possess the project’s NFTs) are examples of this sort.
Notable Airdrops
Uniswap
The crypto community was in a frenzy in September 2020 when Uniswap abruptly announced an Airdrop of 400 UNI for 250,000 wallet addresses. At the time of the Airdrop, each wallet was estimated to receive more than $1,000. When the price of UNI reaches nearly 45 USD in May 2021, following the Airdrop, the value of UNI’s Airdrop could be substantially higher.
ParaSwap
The ParaSwap Foundation stated in November 2021 that it would give the first 20,000 users an airdrop of 150 million PSP tokens, or around 7.5% of the 2 billion total PSP supply. Depending on the PSP price, each wallet receiving a ParaSwap airdrop is anticipated to get up to several thousand dollars.
Optimism
One of the notable airdrops in the cryptocurrency industry in the last year was Optimism. OP tokens were distributed to over 250,000 valid wallet addresses based on their positive contributions to the Optimism ecosystem. Each wallet getting an Optimism airdrop is thought to be valued at more than $1,000.
Aptos
In 2022, Aptos might be considered an unexpected and eye-catching Airdrop. On October 19, 2022, major exchanges listed the APT token, which corresponded with the announcement of Aptos’ Airdrop.
The project will airdrop to users who engage in the Aptos Incentivized Testnet (300 APT wallet) or have created the Aptos Zero NFT testnet network (150 APT each), according to the official statement from Aptos Labs. Each wallet that receives an Aptos airdrop is thought to be worth more than $1000.
ARB
Arbitrum can be viewed as a shock and attention-grabbing airdrop in 2023. Exchanges began listing ARB tokens on March 23, 2023, while Arbitrum’s airdrop program was being set up. According to the official announcement from the Arbitrum Foundation, the project will airdrop to users who meet at least one of the requirements, such as transaction connection with Arbitrum, total transaction value, number of transaction months on Arbitrum, number of transactions, interaction with smart coins, or activity active on Arbitrum One or Arbitrum Nova. According to reports, the value of each wallet that received an Arbitrum airdrop exceeds $1000.
Who can join the Airdrop?
As I mentioned at the beginning of the blog, projects often choose Airdrop as their primary method of user outreach because everyone can take part in these initiatives.
What should I do to get ready to participate in Airdrop?
To participate in Airdrops from projects, you must prepare wallets from different chains such as Ethereum, Solana, BNB Chain, and Avalanche,… In particular, it should be noted that you must use a secondary wallet when participating in Airdrop activities from projects to avoid the risk of wallet hacking.
This is the process I still do regularly for your reference (should choose which rafters need to do more accounts and which rafters do fewer acc):
- Prepare a mobile phone number (the number of phone numbers you have will determine how many accounts you have to register)
- Next, from the phone numbers, you create Gmail accounts –> Telegram in turn (use the Web version for each browser, should not be downloaded) — > Twitter –> Discord.
- Download the software to change the IP address, we often use Hola software (like 1 utility of Chrome similar to Metamask wallet); this is an important step if you want to do a lot of acc. To use Hola, you go to the link: https://chrome.google.com/webstore/detail/hola-vpn-the-website-unbl/gkojfkhlekighikafcpjkiklfbnlmeio to download, then each time use it to make the brothers turn up as shown below, It’s okay to use it right away!
How to Find Airdrops
There are specific requirements for each airdrop from projects. Many brothers will concentrate more on retroactive airdrops because they typically have a high value. However, many projects will snapshot before informing the community, making identification challenging. To make your search for Airdrops easier, you can select the following criteria:
- Check media channels like Twitter for hashtags with #Airdrop #Reoactive (filter out for others) and see if any projects stand out.
- Following official social media accounts of blockchain projects or joining specific cryptocurrency groups on platforms like Twitter, Facebook, and LinkedIn can be an effective way to stay updated on new airdrop announcements.
- Several websites specialize in aggregating and curating airdrop listings. These platforms provide comprehensive information about ongoing and upcoming airdrops, making it easier for beginners to find relevant opportunities: ( https://airdropalert.com/ ) ( https://airdrops.io/)
- Observe cryptocurrency channels that provide airdrop information, such as BTAguru
Tips for Maximizing Airdrop Benefits
Set Up Dedicated Wallets
To ensure seamless participation in multiple airdrops, it’s advisable to set up dedicated wallets specifically for these purposes. Using separate wallets helps organize your tokens effectively while minimizing any security risks of sharing sensitive wallet addresses.
Be Selective with Projects
With numerous projects launching airdrops regularly, it’s crucial to be selective about which ones you choose to participate in. Research the project, its team, roadmap, and community to evaluate its potential for success before investing time and effort into an airdrop.
Stay Updated and Act Fast
Airdrops often have specific participation limits or deadlines. To maximize your chances of securing tokens, stay updated with the latest information and act quickly when new airdrops are announced.
Protect Your Private Information
While participating in airdrops may require sharing certain details, always exercise caution and protect your private information. Be wary of scams and only provide the necessary information requested by trusted projects.
Conclusion
Airdrops present an exciting opportunity for beginners to explore the world of cryptocurrencies without any financial investment. You can make the most out of these free token distributions by understanding how airdrops work, finding relevant opportunities, and following best practices. Remember to conduct thorough research on projects before participating and always prioritize security when sharing personal information. With these insights in mind, you can start venturing into the world of airdrops with confidence and potential rewards.
