Not every crypto token you come across needs to be purchased; some are awarded in the form of airdrops.
Airdrops are one of the most remarkable ways to raise awareness of an upcoming currency by the issuing company. Here, a small amount of new virtual currency is transferred directly to the wallet of an existing member of the blockchain community in exchange for a favor, such as tweeting about the currency or writing a blog post about it.
It’s not every day that you get these free tokens, though! Furthermore, as with anything associated with ‘crypto,’ there is more to it than just getting free tokens. So, continue reading to learn about the various aspects of increasing your chances of landing the next airdrop.
Airdrops: The Basics
The primary reason behind running airdrop campaigns is straightforward; to ensure that a new crypto project has greater exposure and people start using it.
Looking at the number of tokens already circulating in the market, the issuers need aggressive marketing campaigns to counter stiff competition in the form of airdrops. This helps spread awareness about the project, giving the developers their best chance at establishing a community of like-minded users.
Besides, the trend of token airdrops has been rising since they’ve earned thousands of dollars for selective beneficiaries. For instance, if you had participated in Uniswap‘s airdrop, you would’ve made two thousand dollars on the release date itself (and more if you held it for a while).
Doesn’t that sound intriguing? In the following section, we’ll look at improving your chances of receiving crypto airdrops.
Tips For Improving Your Chances of Collecting Airdrops
- Keep scouting for potential drops
As a basic thumb rule, scouting is one of the most prominent ways of increasing your odds of landing airdrops. All you need to do is explore upcoming projects with potential.
Here, you can try exploring projects with no unique token but with chances to create one in the future. Many projects often tend to tease their token drop ahead of setting up a campaign. However, if you’re smart with your research, you might land the chances at such projects as they also allocate around 5-10% of their supplies for early birds.
- Update yourself with the niche
You can easily come across dedicated crypto blogs, forums, and social media groups around airdrops. These groups often provide their members with valuable information on rumored airdrops.
For instance, you could be following the likes of Defi Airdrops, a Twitter account specializing in hunting out airdrops in advance.
- Stay active on Blockchain
While you always have the option to scout for new projects, you could improve the effectiveness of your research by staying active on Blockchains. How? It’s simple, actively start using projects on Blockchains like Avalanche, Fantom, Ethereum, Solana, and Cosmos.
- Keep the gate to experiments open
The crypto industry is unpredictable with its innovation; you never know what comes next. Therefore, besides relying on rational measures, you should consider experimenting with different tokenless applications surrounding the niches like NFTs, GameFi, and Defi.
For instance, if you come across a promising lending protocol on Ethereum, try adding tokens to its liquidity pool to increase your chances of airdrop in the future.
- Get into NFTs
Buying, minting, and holding NFTs is another excellent strategy to improve your chances of receiving airdrops. Several crypto enthusiasts speculate that NFT collections will soon launch their governance tokens.
Further, with confirmation from the Bored Ape Yacht Club, it is only the right move to stay acquainted with NFTs. Try staying more active with different projects across multiple wallets used by new projects to increase your chances of receiving an airdrop.
Step-by-Step Guide to Participate in Airdrops
Step 1: Signup with a crypto wallet if you haven’t already
Setting up your crypto wallet is the first step to improving your chances of landing a crypto airdrop. Without a wallet, you won’t have any digital address for these projects to send you the tokens. You can choose to setup a software wallet on Binance for example or purchase a more secure hardware wallet like Trezor or Ledger.
Step 2: Explore the websites that offer different airdrops
Similar to their project type, not all crypto airdrops are the same. You’ll generally come across these four different types of airdrops:
As the name suggests, ‘standard airdrops’ are the most common drops you’ll come across. Here, small amounts of crypto tokens are transferred to the wallets of users. Besides, such airdrops don’t demand much but for you to provide your wallet address and sign up with the new crypto platform.
These airdrops are more like a barter system where users need to engage in promotional activity to be rewarded in tokens via airdrops. This drop type might require you to do the following activities:
- Follow the project on social media
- Share and retweet their posts, including the hashtags
- Engage in a transaction (using a wallet or tokens specific to the project)
- Create an account and signup to receive updates
Next, we have exclusive airdrops limited to the loyal users of a crypto platform. Remember, these drops are more like rewards and generally favor the community’s followers.
Last on the list is the holder airdrops. As the name suggests, they’re awarded to crypto users who have been holding a specific cryptocurrency for an extended time. Out of all the airdrops, these are the more exclusive ones and usually include the likes of popular tokens such as Ether and Bitcoin.
Step 3: Explore the multiple available projects
Now it’s time to explore the multiple airdrop projects available in the market. Here, you need to go through the different eligibility requirements and sign up with the one where you’re qualified for an airdrop.
Step 4: Do your own research
The last step in the process is to do your research! Whenever you plan to be a part of any crypto airdrops, don’t just rely on the information provided by their website. Instead, engage with other enthusiasts who have signed up for the project and do your research while staying updated with the project’s news.
Upcoming Airdrop Projects with Great Potential
Given their success rate, airdrops are very common. However, this doesn’t mean you’ll have to believe in the project and hold on to it for several years. When you find the best, you’ll come across several projects that won’t necessarily succeed.
Therefore, to give you an idea, here’s a list of upcoming airdrop projects with potential:
First, we have the most used crypto wallet globally, Metamask! Rumors suggest that the platform has been wanting to launch its token for a long time and might do the same in 2022.
How to improve your chances of a Metamask airdrop?
It’s simple, try using every possible function of this wallet. No matter if it’s storing, transacting, or even making swaps for the transactions.
Another one on our list is the Arbitrum, a layer two solution for Ethereum that is yet to launch its token. However, with the possibility of them launching the tokens sometime in 2022, you might want to stay prepared to receive the airdrop.
Transfer your assets from Ethereum to Arbitrium or connect the platform with Uniswap and increase your chances of receiving the drop.
Besides being an NFT marketplace, OpenSea has long been in talks of introducing its token. While this is complete speculation, given the transactional volume it has acquired over the years, the chances are that it would likely introduce its token.
How to improve your chances at OpenSea airdrop?
Stay invested in their NFTs!
The speculations and eligibility criteria around crypto are uncertain and keep changing! Every token airdrop is different and adds a degree of uncertainty to the final equation. Therefore, stay invested in your risk while doing proper research. All the best!