Polygon (MATIC); a masterpiece frontier by Ethereum
25.08.2022
468 Views
There is already much information out here about Ethereum. You will remember that Ethereum is…
Airdrops in Cryptocurrency
In cryptocurrency, airdrops are marketing stunts involving sending tokens and coins to the wallet addresses to promote new virtual currency awareness. Small amounts of the new virtual currency are sent to the active member’s wall. These members are the people in the blockchain community and the amounts are usually sent for free or even for small services. Some of the things one may perform include retweeting a post that is sent by the firm that issues the currency.
WARNING: Investing in crypto, or other markets, can be of a high risk for your savings. Do not invest money you cannot afford to lose, because there is a risk for losing all of your money when investing in crypto, stocks, CFDs or other investments options. For example 77% of retail CFD accounts lose money.
The aim of the airdrops is for traders to accept the adoption of new cryptos. Crypto traders normally interact with existing and new platforms so that at some stage they can get airdrops. Basically, it is a good marketing strategy.
Tasks in Crypto Airdrops
The following are some of the tasks you may perform as a user
- Creating an account as well as signing up in getting updates
- Following a social media account
- Receiving or sending transactions while utilizing a specific crypto wallet or platform.
Types of Airdrops
There are varied ways of conducting cryptocurrency airdrop. There is an airdrop that transfers crypto to other wallets. However, apart from that, there are others including holder, exclusive, and bounty airdrops.
Holder Airdrop
The holder airdrops work by distributing free tokens for the people holding some number of digital currencies. As for the project team, they do take a snapshot of users’ crypto assets during a specific time. In case your balance meets the minimum requirements then you will be able to get free coins.
Top cryptos such as Ether, Bitcoin, and BSC do get airdrop tokens. An example is the event that took place in 2016. During that time, Stellar Lumens airdropped about 3 billion tokens to the Bitcoin holders.
Exclusive Airdrop
For the exclusive airdrop, it just sends crypto to wallets. It is unique since the recipients ought to have established history with the project. An example is in 2020 when Uniswap airdropped 400 UNI for each wallet that earlier interacted with their protocol before some date.
Bounty Airdrop
A bounty drop needs a trader to complete some tasks of a project. In making a claim for such an airdrop, one is usually needed to fill out a form having your wallet addresses. Also, you should provide proof confirming that you completed the tasks. Some of the tasks are tagging friends on Instagram or sharing the project’s post.
The Way Crypto Airdrops Work
The crypto airdrops consist of a small number of cryptos distributed to different wallets. The platforms include Binance Smart Chain and Ethereum. And for some, NFTs are given instead of cryptos. In addition, in some projects, you may not perform any task but still you will get rewarded. However, for others, you have to do some tasks before being rewarded.
As I said earlier, the tasks may entail subscribing to a newsletter, holding a certain amount in your wallet, and having social media accounts. Unfortunately, there is usually no guarantee that you may get the tokens of the airdrop.
Furthermore, in some cases, you may be given wallets that interacted with the platforms of a project on some dates. The top examples include Uniswap and 1INCH. They do assist in helping the early adopters. However, the airdrops are worth a lot of money.
Where to Get Airdrops for Free Crypto
- Daily, people get free airdrops. It is a good way of making income and the following are some of the ways of getting them:
- Having Airdrop Alert after signing up to the website. Through that, you will have a chance of communicating with the crypto community.
- Getting them through social media. The best way of getting the free airdrops is through Telegram channels. Apart from Telegram, some media promoters use Twitter.
- Checking RSS feeds for free crypto. The feeds at times do display the places in which you may find airdrops. The three main feeds include Bermal, RSS crypto, as well as Coinspectator.
- Going to other platforms listing airdrops. Some of the sites include Free Coins 24, Free Airdrops, Airdropers, Crypto Airdrops, and Earn.
- You may also join the crypto forums in finding airdrops. Initially, the places where traders would get airdrops were Bitcointalk and Reddit. The other platforms you may use are Cryptocurrency Talk and Altcoins Talk.
The Safety of Crypto Airdrops
In most cases, the crypto airdrops seem unreal. For instance, if you are told to tag your friends and share a post to get free cryptos you may just think it is a scam. Unfortunately, this is not true. As much as it is true that scammers have found ways of scamming people through airdrops, some are real. Therefore, it means that as a trader you need some knowledge to differentiate the one that is real and vice versa.
As a trader in cryptocurrency, you must stay alert to the airdrops. In short, you should be vigilant of the airdrops promising huge amounts of money in return. Do not connect your crypto wallet if you suspect that a platform is not trustworthy. As for your private keys, you should not even think of giving them out.
The best Crypto Airdrops this year
- Lucky Block
- Basic Attention Token
- StormGain
- Pulsechain
- DeFiChain, this DeFi Project Airdropping gives Crypto Worth $30
- Tidex
- DAO Labs
- Binance
- RAW DAO –
- MetaMask
