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    Airdrops - How to Participate (and Get Free Money)


    In the history of cryptocurrencies, some events stand out because they have sometimes changed some people's lives just because they were "in the right place" at the right time. I mean " Airdrops " , a term that refers to the free credit of a certain amount of new tokens in selected wallets. The amount can range from a few pennies to several thousand dollars !

    But how can we get Airdrop?

    The question is one of the most popular, but the answer is sometimes not so simple. In the past, the most profitable Airdrops have been for example $UNI, $DYDX, $FORTH, ENS and many others. The only thing they have in common is that they were given out to those who performed certain actions , such as using a certain DeFi platform or holding a certain token (or NFT) in their wallet (before airdrop).

    For example, in 2020, those who held $AMPL (one of the current reward tokens of the Publish0x ) in a wallet (no exchange), were given the right to request the Ampleforth management token ($FORTH). Just to be precise, a wallet with a balance of only €4,80 in Ampl may require €3500 in FORTH.

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    Therefore, it can be said that to get an Airdrop similar to those of the past, it is necessary to interact in some way with the DeFi platform, with CeFi or, more generally, with a service that does not yet have its own currency.

    Why are Airdrops generated?

    In fact, there is more than one reason for someone to credit their token to some users:

    • Engage the community and attract more people to your service,
    • Reasons related to governance (create a decentralized voting system among the masses),
    • Stealing money and users from other platforms ( vampire attack ).
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    How to... 

    There's a lot of speculation about which platforms don't have a token and therefore may issue one in the future. Let's take a look at the most accredited and try to figure out how to win the possible opportunity to get their airdrop. As an example, I picked one per category (annuity platform, wallet, blockchain, etc), but before seeing them specifically, I recall that you would (most likely) need to interact with them at least once to be eligible for airdrop (if it happens).

    1. BlockFi : It is a CeFi platform where it is possible to rent various coins (including Bitcoin and Ethereum). In addition, there is a feature " swap ", which allows you to quickly convert a coin you own into another supported one. Many believe that sooner or later BlockFi will launch its own token, just like its competitor Celsius Network (which has $CEL) to give out higher rates. If you don't know BlockFi, read this article: My CeFi experience:BlockFi

    2. Metamask: another very important name in the crypto world. This is the main non-storage wallet for Ethereum and its tokens. Since it doesn't have its own token yet, unlike other wallets like TrustWallet, Atomic or C98, it is likely to be created in the future and credited to its active users. If you don't know how to use Metamask, read this article:  The METAMASK lesson 

    3. Unstoppable Domains : Just like the Ethereum Name Service, which recently launched its own token, Unstoppable Domains may do so in the future. These are companies that develop software and provide the ability to register a web domain on the blockchain. In fact, ENS recently gave away large amounts of its token to Ethereum domain owners. If you want to learn more about Unstoppable Domains, read this:  What are Unstoppable Domains?

    4. Opensea: is a platform built on blockchain on Ethereum, which allows the exchange of NFTs. Currently, it is mainly responsible for burning ETH due to the large amount of gas taxes it produces. The curious thing, however, is why this platform doesn't have its own token yet.

    5. Arbitrum: Finally, as a representative of Ethereum layer 2, I chose Arbitrum. In fact, unlike Matic or Loopring, it has no token. Many Arbitrum users are hoping for its release.

    I remind the reader that what I have just reported is the result of a survey conducted on the internet and therefore the data should be treated with due reliability. In fact, it is not certain that any of the aforementioned platforms will ever release their token. In any case, simply communicating with them is worth nothing. DYOR. 

    Recurring Airdrops

    Finally, there are some airdrops that are constantly given to those who own a particular cryptocurrency. This is the case, for example, with $LUNA and $ATOM, whose holders are entitled to receive the tokens of the projects that are launched in their respective blockchains. In particular, it is often not enough to hold the cryptocurrency in a wallet, but it is required to be pledged with a validator to contribute to the security of the network. Through the wallets Terra Station (for LUNA) and Kepler (for ATOM) it is possible to delegate a validator to perceive the rewards from the pledging and air releases of the different projects.

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    Risks of Airdrop

    Participation in airdrop is not always risk-free . Since it's about getting free coins, we might think that this always works in our favour, but it doesn't. In fact, future dates are often announced where a snapshot is taken of wallets containing certain tokens in order to credit others. Mayar's marketplace(when the $MEX token was released) and the Venus protocol (with $VRT) used exactly this technique. Snapshots were taken of $EGLD and $XVS, respectively, contained in storage-less wallets, and subsequently these same wallets were able to obtain a certain amount of tokens. But where is the risk? Simple: a lot of people bought EGLD and XVS before the snapshots, which caused them to increase the price, and then resold them, leading to a sudden dump. Those who didn't rush to resell ended up at a loss, and even airdrop didn't make up the difference in value.

    In conclusion

    We have seen how there are many opportunities to profit in this crypto-world, but one is also exposed to many risks. Airdrop is one of the things that is least expected and which sometimes changes the cards on the table. So I remind everyone to never invest blindly and research the platform you decide to allocate funds on. DYOR, because it's always very easy to lose everything.

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