In this article, I’ll delve into the topic of crypto airdrops—what they are and how you can position yourself for life-changing opportunities in 2024.
A concise definition of crypto airdrops is that they are incentives provided to crypto enthusiasts who engage in the development of blockchain projects. These projects seek individuals to aid in testing and building their platforms.
Another way to look at crypto airdrops is that they entail the distribution of free tokens or cryptocurrencies to designated wallet addresses as part of a promotional strategy or reward mechanism.
These airdrops have various purposes:
- Promotion: Projects utilize airdrops to create awareness and attract attention to their cryptocurrency or platform. By dispersing tokens, they aim to stimulate interest and potentially expand their user base.
- Rewards: Airdrops can serve as a means to reward existing token holders or platform users for their loyalty or engagement. For example, users might receive airdropped tokens as a bonus for holding a specific cryptocurrency or participating in certain activities within a platform.
- Community Building: Projects frequently employ airdrops to foster community engagement and participation. By distributing tokens among users or contributors, they aim to cultivate a supportive and involved community around their project.
Other things you must know about airdrops
Notably, airdrops aren’t guaranteed for every project and often occur spontaneously. Individuals keen on airdrops must exercise caution, as not all airdrops may be legitimate, and scammers sometimes exploit this concept to deceive unsuspecting users.
If you want to join an airdrop, make sure you’re ready to actively help the crypto project. Only pick projects you believe in and are excited about. Get involved in their community, do tasks, and share their stuff on social media to be eligible for their crypto airdrop when they launch.
In addition, airdrops can take time—some last for months or even a year. Some are free to join, but some need a small investment, usually between $5 and $1000.
For airdrops that involve testnets, participants use free test tokens to evaluate the crypto project without dealing with real crypto/assets. Requesting such tokens can be done via the crypto airdrop faucet page.
Certain projects compatible with Ethereum may require the use of Ethereum Testnet tokens like Goerli Eth (GETH) and Sepolia Eth (SETH). Platforms like testnetbridge.com allow conversion of Ethereum to GETH, and free Sepolia Eth can be mined at https://sepolia-faucet.pk910.de/ if SETH is needed. You can also get BNB testnet token here: https://www.bnbchain.org/en/testnet-faucet.
Airdrops necessitating initial investments typically involve projects that have launched their mainnet, seeking early adopters to test project applications using live cryptocurrency. For these, creating a Binance account and purchasing required tokens is common.
Some projects may require creating a node by renting a server online, which might incur costs up to $100.
Regardless of whether an airdrop is free or requires an investment, promotional activities like sharing referral links, engaging on Twitter, etc., are usually part of the process.
Additionally, it’s essential to note that every airdrop is potential until officially announced. Many projects refrain from hinting before the airdrop launch to prevent bad actors from exploiting multiple wallets.
A hint to recognize potential airdrop projects: many of these projects lack a tradeable crypto token in the market but aspire to be managed in a decentralized manner, thus requiring a token launch.
How Much People Made From Past Airdrops
Airdrops have made lots of folks millionaires just by doing easy tasks and supporting the projects.
For instance:
The first airdrop I got from Hydro gave me $1000. Uniswap’s first giveaway was 600 UNI, worth about $1800, though I wasn’t able to get it. Optimism and Ethereum Name Services also gave away good amounts, like over $10,000. Arbitrum gave even more to some Decentralised Applications(DApps), up to $1,000,000 for certain DApp founders.
Here are 5 steps to getting an airdrop.
- Create the following social media accounts if you don’t already have them:
- Email (Gmail preferably)
- Discord
- Telegram
- Github
- Ethereum Wallet (Metamask)
- Search for current airdrop opportunities:There are numerous platforms where you can access updates about ongoing and upcoming airdrops. Below are a couple of them:
- Airdrops.io: This platform offers both low and high figure potential airdrops. It lists both genuine and potential airdrops. It’s suitable for newbies who have time to explore various airdrops. The airdrops here are not usually curated.
- Linity: I recommend this platform to newbies due to its simple user interface and curated crypto airdrop opportunities. It also organizes regular airdrop farming events on Discord where you can apply for airdrops alongside other hunters.
- Galxe: Galxe is a Web3 task, promotion, and compensation platform for crypto projects. Major cryptocurrency projects often run their community task campaigns on Galxe, rewarding participating users with airdrops. Logging into Galxe daily and completing tasks can earn you multiple airdrops.
- Intract: This Web3/crypto community task campaign platform is similar to Galxe, albeit a bit new. It offers simple tasks, although some may be relatively expensive.
- Zealy: Zeally resembles Galxe and Intract. However, some projects here take time to execute their giveaways and airdrops.
- QuestN: This cryptocurrency community platform is similar to the above platforms but has an easy user interface for navigation.
- Layer3.xyz: Similar to the above platforms but offers easier tasks and comprehensive tutorials.
- Guild: A platform where you can perform simple tasks related to cryptocurrency projects and earn roles.
- Link3.xyz: Contains official links of cryptocurrency projects.
- Defillama.com/airdrops: Tokenless protocols that may airdrop
- Airdrops.one: Current and Future #COSMOS Airdrops
- Airdropalert.com: Earn crypto & join the best airdrops
Additionally, here are some blogs where you can find curated crypto airdrops from professional airdrop hunters:
Twitter: This platform is another avenue to discover airdrops through tutorials/tweets from professional airdrop hunters. Here are some popular crypto airdrop Twitter influencers:
Telegram: Telegram channels and groups provide regular daily airdrop updates. Join the Telegram communities of popular Twitter crypto airdrop influencers:
- Apply (Hunt) for Airdrops: After visiting any of the platforms mentioned above, the next step is to apply for potential airdrops. You don’t need to apply for all projects, but ensure the ones you choose resonate with you, and actively engage with them on their Twitter and Discord channels. Make sure you meet all requirements for eligibility.
- Keep Checking for Updates: Continuously check for new campaigns and updates about claiming airdrops for the projects you’ve applied to. Missing new campaigns can disqualify you from receiving airdrops. New campaigns might have a limited time frame, so check your airdrop websites every 3 days or weekly.
- Claim, Spend, and Reinvest: Once the claiming period is announced, it’s time to claim the airdrop. Note that some claiming periods might span a few weeks. Stay connected with both the crypto airdrop community and the particular project community to avoid missing any updates.Divide the money earned from airdrops in half. Spend half and reinvest the other half in future airdrops. Avoid spending all the earnings from airdrops as it might leave you short on funds for future opportunities. Similarly, refrain from reinvesting all the earnings as nothing is guaranteed. By splitting the earnings, you have funds for future airdrops while maintaining a balance.
This article should guide you towards earning your first or next airdrop. Crypto airdrops are likely to persist until 2028, so take your time and keep applying. The success rate ranges from 10 to 20%, meaning if you apply to 10 airdrops, you might receive 1 or 2.
Avoid creating multiple accounts as it might be flagged as suspicious. Instead, consider using more funds or liquidity on airdrops that require investment. This approach can lead to larger compensation without risking exclusion.
Finally, some airdrops, such as Supra, may require identity verification. Have your identity card ready in case it’s needed before claiming your airdrops.
Here is the list of airdrops I’m hunting at the moment:
