Can Airdrops Make You Rich
Most crypto airdrops dont have a considerable value at the moment of the airdrop and will not make you rich overnight. But in the past, some big projects airdrops have been highly lucrative. There is always a chance that the token value can increase significantly over time, turning into a nice profit.
What To Do With Airdropped Coins
Youre all excited because you got some free crypto. But what now? Are you a millionaire yet? Not really And after a coin airdrop, theres nothing much to do. Because nobody has heard of the new crypto-currency And its not even available in any exchange, yet.
While you can exchange coins with other early adopters, your solutions are too limited, especially if the asset isnt available in any decentralized exchange . And despite the value the project announces, its really worth next to nothing.
But dont despair yet. Because it becomes interesting when the new crypto arrives in the exchanges. And thats when you know the real price of what you received. However, most backers usually want to sell their coins, to get fiat money or other cryptos . So the price may not be up to your expectations
Anyway, you dont have to sell your free crypto, you can hold it and hope it will appreciate with time.
How To Know About An Upcoming Airdrop
There are sites and online groups that specialize in informing people about upcoming and active Airdrops. Icodropsand Airdropalertprovide a list of all forthcoming airdrop events going as far as giving the number of days left before they take place. The sites also provide information on the type of currency that one must have in their wallet and the amount one must have, to receive free coins.Another easy way to be in the know, about upcoming Airdrops is to be active on social media by following the accounts of the forthcoming projects.
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Are Crypto Airdrops And Nft Airdrops Worth The Hype
It is clear that crypto airdrops and NFT airdrops have been a successful marketing tactic used by big blockchain projects to create awareness around their products. The many early adopters of these decentralized applications have been rewarded for their actions, and those who waited long enough have made a profit worth bragging about.
Weve seen some examples of DEXs that have rewarded their early adopters. There is also similar speculation about the newest L2 Ethereum solutions, wallets, and DApps that havent launched a token. These may be rumors, but it is worth keeping an eye on. Nobody can say for sure which is the next DApp to launch its native token, but there is a chance of profiting from future airdrops by simply using these services.
Like any other marketing strategy, Crypto airdrops can be easily manipulated and used to defraud participants. You should always research a project on blockchain before you invest money. Furthermore, before sharing sensitive information, make sure that the site is legitimate.
What Are Crypto Airdrops
As mentioned, airdrops are a marketing strategy being followed by blockchain-based services. To understand it clearly through an example, imagine if a new cryptocurrency exchange like Binance or WazirX is going to open up soon. In order to gain maximum eyeballs within the cryptocurrency world, the platform launches its own virtual currency, like WazirX has WazirX Token or Binance has Binance Coin.
The platform then makes an announcement through its various online channels that it will give away X amount of that currency for free to some early users. In return, it might ask the users to register with the platform, or share its updates on their social media accounts, or perform other such tasks in order to enrol.
Those who complete these tasks then become the participants of the airdrop. Once the date of the airdrop arrives, the platform transfers the promised amount of its own virtual currency to some lucky winners. Note that each platform may have different requirements for participation and that even completing all the listed tasks will not guarantee you an airdrop in most cases. This is simply because the number of participants is too huge, with people actively participating in such deals.
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Xrp Airdrops Explained & How To Get Them
Hey! Want some juicy airdrops? Me too. Here is how you can put all your XRP into good use and start claiming ongoing & upcoming airdrops on the XRP blockchain.
1) You need to have a trustline supporting wallet, far as I know Xumm is the best option at the moment
2) Secondly you need to have XRP on your Xumm wallet, you can also import seed phrase or the private key from other wallets like Exodus to make the transition easier process, so when you get flare airdrop it will be accessible also from the Xumm wallet easily. 3) You can find ongoing & upcoming XRP airdrops from this list collected by a community member
Also, I recommend taking a look at & for info regarding their drops which are expected to be probably the highest value out of the bunch.
What Are The Different Types Of Airdrops
Despite their primary motivation being to incentivize users, crypto projects may give away free crypto in a number of different situations. The proper cryptocurrency education can help you get the right insights into various types of crypto airdrops.
Here are some of the most common types of airdrops:
- Holder airdrop
Standard cryptocurrency airdrops transfer a specific amount of native coin or token into existing wallets as a marketing strategy. During their initial coin offering, it often markets the brand and encourages more people to adopt the asset. All you need to do is create an account with the new project, and provide your wallet address during the distribution event.
Investors use Bounty airdrops as a marketing strategy, but their recipients must engage in some promotional activity to receive the digital asset.
Among these activities are:
- You can share a post about the blockchain project on Twitter or another social media platform
- Subscribing to the projects email newsletter
- Participating in a discussion forum and participating in the project
- Bounty airdrops require a bit more work than standard airdrops, but the tasks usually arent too strenuous.
A crypto coin airdrop is where a group of people or the cryptocurrency developer who follows an airdrop aggregator receives crypto coins. These third-party sites publish news about crypto projects and their upcoming airdrops.
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Careful With Your Personal Information
Some airdrops ask for your personal information, such as your email. Now, youll probably need to enter personal information for legit airdrops, which is where this gets tricky.
Before signing up for an airdrop, carry out some background research on the company in question. Read what others say about them on social media, and try to read their whitepaper if they even have one!
Set Up Social Media Accounts And New Email Address
In most cases to participate in the cryptocurrency airdrops, you will need social media accounts and an email address. Create a completely new email address with a strong password you have never used before. My advice is to use that email only for the airdrops. It is for safety purposes.
From social media, you will need a Telegram account, Twitter, and Facebook in most cases.
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Create An Ethereum Address
Most crypto projects are built on Ethereum. With an Ethereum address, you will be able to apply for almost all cryptocurrency projects. There are several ways how to create an Ethereum address. The most common is to use MyEtherWallet.com. Here is a comprehensive guide for how to do it.
It is important to always repeat to never share private keys! If you dont control private keys you dont own the Ethereum. That is why you never store your coins and tokens on exchanges!
Sometimes projects are using other blockchains with smart contracts. The most commons are Stellar, Neo, or Tron.
So What Is An Airdrop
Simply put, an Airdrop is an event whereby a blockchain project rewards people with free tokens. Tokens are usually issued for free to a crypto community for helping share the word about a new cryptocurrency or project in the industry. The free coins issued can be exchanged to BTC, ETH, and LTC among other cryptocurrencies.
Instead of spending huge chunks of money advertising and marketing a new project, a team behind an ICO project may look at the blockchain of an established token to gather up every person who has coins in their wallet. They will then distribute their own coins free, in proportion to the amount of coins in the digital wallet.
One can be a beneficiary of an Airdrop on registering on the website of an emerging blockchain project and filling some information such as email, cryptocurrency address and sharing referrals to other people.
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How To Uncover Cryptocurrency Airdrops
With the large number of crypto projects out there, it should be of no surprise that many of the coins and tokens received during a cryptocurrency airdrop end up holding very little value in the end. Still, for all the unsuccessful airdrops out there, from time to time, there are a few gems that may be uncovered. And for that, it is worthwhile to keep track of, and monitor potential airdrops from existing and upcoming projects. But how?
Interested individuals can take the normal route, and follow hashtags such as #airdrop on . Additionally, sites like airdrops.live or airdropland also maintain running lists of upcoming and past airdrops which have taken place.
Regularly monitoring social media platforms and these sites will not only help keep users up to date on the latest crypto projects, but will also allow individuals to be amongst the first to know about exciting new blockchain use cases and ambitions.
How Do I Get Free Nft Airdrops
New NFT artists or companies will offer free NFT airdrops to users who help them generate awareness about their projects. These airdrops can often be found on NFT marketplaces, such as OpenSea, or crypto data platforms, such as CoinMarketCap. Twitter is the preferred social media channel of the NFT community, and following hashtags such as #NFTGiveaway might help you discover free NFT airdrops.
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Things To Look Out For
Unfortunately, many have been scammed or duped when it comes to the airdropping process. Here is an awesome infographic depicting some best practices to follow to safeguard yourself when participating in airdrops:
As a rule of thumb, you should never promote a project which does not seem legitimate and more importantly, never ever share your private keys. Private keys are equivalent to your PIN number for you bank account if anyone has access to your wallets private keys, they would have access to your coins. Honestly, there is no need for revealing your private keys throughout the airdropping process.
An obvious red flag is the requirement of first donating or sending a certain amount of coins before being eligible for airdropped tokens. Here is an example below:
Airdrops are supposed to be free, and a requirement to send coins in exchange for native coins is highly likely a scam. Always check out the validity of announcements and social media accounts before participating in an airdrop. It is essential to perform some due diligence before making a final decision on whether or not to participate.
How Do Crypto Airdrops Compare To Other Methods Of Distributing Money
Crypto airdrops could be an excellent way to bolster your crypto portfolio without having to buy digital assets. In addition, they may be able to get you on the ground floor of a new platform. It is best to learn about them in a cryptocurrency course,and with the right cryptocurrency learn techniques, you will understand how airdrops are better.
Airdropped assets, however, may also be worthless. There is the possibility that you could spend time seeking out and claiming airdrops, only to see the prices of the airdropped coins drop before you can sell them.
The risk of giving money or sensitive information to a fraudulent platform is even greater. A cryptocurrency expert and enthusiast are more likely to benefit from airdrops. As they like to stay up to date with new developments and actively manage their portfolio regularly.
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Different Types Of Crypto Airdrops And How To Find Them
Were here to help! First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey.Read moreWe develop content that covers a variety of financial topics. Sometimes, that content may include information about products, features, or services that SoFi does not provide.We aim to break down complicated concepts, loop you in on the latest trends, and keep you up-to-date on the stuff you can use to help get your money right.Read less
A crypto airdrop is sort of like receiving a coupon to get a sample of something for free. New shops or restaurants sometimes offer a free drink or small item to first-time customers, for example. The hope is that the people who receive free items or coupons will enjoy the service, tell their friends, and become long-time customers.
When a company airdrops crypto to users, they aim to accomplish something similar. By depositing free coins into the wallets of users, the company is betting that the users might spread word of the new project and its potential use cases.
Of course, as with anything crypto-related, theres more to it than just getting a simple freebie out of nowhere. This article offers answers to the most common questions regarding crypto airdrops, including:
What is a Crypto Airdrop? What Are the Different Types of Airdrops? How Do I Get Airdrops from Crypto? Are Crypto Airdrops Worth It? Are Crypto Airdrops Safe?
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Bonus: Best Twitter Handle For Crypto Airdrops
The last on this list is a Twitter handle. There’s no doubt that hundreds of crypto projects and airdrop campaigns are announced on Twitter. The micro-blogging platform has gained prominence when it comes to everything cryptocurrency. DeFi Airdrops , like the name goes, mostly promote decentralized finance airdrops campaigns. If DeFi is what you love, check this Twitter handle.
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Ethereum Name Service Airdrop
Another successful crypto airdrop is the ENS airdrop.
ENS aims to simplify the crypto and financial space by allowing users to create a common nickname that can be used for all public addresses and decentralized websites. Instead of having unreadable keys for each crypto address, you can have a single ENS domain like yourname.eth, where you can receive all types of crypto and NFTs.
An ENS domain name is an NFT.
As of November 2021, they airdropped 25 million ENS tokens to all those who previously bought a .eth domain name . To be eligible for the ENS airdrop, you must have purchased an ENS domain before October 2021. There were around 137,000 eligible wallets for the airdrop. As of December 2021, the received airdrop is valued at around $7,300.
The 4 Best Sites For Free Cryptocurrency Airdrops
Looking to bag some free crypto? How about free NFTs? A cryptocurrency airdrop is just what you’re looking for.
From Bitcoin to altcoins, the number of digital currencies continues to rise. The role airdrops have played in growing cryptocurrency adoption can seldom be overemphasized.
Crypto airdrops have offered many people, especially newbies and those with little cash, the opportunity to have a share in the cryptocurrency largesse. But what exactly are cryptocurrency airdrops?
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Airdrops: Why Crypto Projects Do Them
Crypto projects are the biggest beneficiaries of such events. They give out generous bounties through airdrops. Find out why airdrops are crucial to the success of crypto startups.
Sensitizing the public
Blockchain startups conduct airdrops primarily to raise awareness. When crowdfunding was in its infancy, ICOs dominated. Soon, however, problems arose. In this gold rush, startups appeared with only a flimsy and partially copied white paper in hand. It oversaturates the market and scares away investors.
In addition, countries like China have outright banned ICOs, and U.S. regulators like the SEC have begun targeting ICOs involving domestic U.S. investors. A legal and alluring method for creating hype for new projects was needed soon. The solution was simple. Distribute free coins. Crypto supporters went on a shilling spree to get airdrops and pump their bags. Airdrop recipients are some of the most vocal advocates a project can hope for. Anyone active in the crypto community on social media can probably agree that. It was a match made in heaven for crypto startups. It allowed them to expand organically by simply paying a small percentage of their tokens.
Providing rewards to users
As a countermeasure, some startups provide free coins to reward loyal users. Why? For using their platforms or for continuing to hold certain amounts of tokens for a specified period of time.
Distributing tokens decentralized
What Are Crypto Airdrops A Detailed Guide
Crypto airdrops refer to a marketing stunt. Here coins or tokens are sent to wallet addresses to promote the launch of a new virtual currency. A small amount of the new virtual currency can be sent to the wallets of active blockchain community members for free. Or in exchange for a small service, such as retweeting a post sent by the company issuing it.
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You Still Need To Do Your Own Research
Cryptocurrency airdrop campaigns, though free, nevertheless require commitment. Lots of people have hit the jackpot in cryptocurrency through airdrops. But, take note, this is not a get-rich-quick adventure. It requires both hard work and patience. As the name goes, they are drops! So, work hard, be patient, and be consistent.
Some, too, have fallen victims to crypto scams. This is why doing your own research is closely tied to your success. So with these four sites, you are well on your way to beginning your search for legit airdrop campaigns