With the nature of ICOs changing, more and more startups are opting for airdrops as a way to distribute their tokens. In the early days of crypto, a token was almost always attached to an ICO. However, with new regulations on the horizon it is expected that more startups will opt for airdrops over ICOs due to the less strict rules/requirements surrounding them. Airdrop coins have been able to rise in value alongside those from ICOs as they also gain popularity throughout 2021.
What Is An Airdrop?
In order to join an airdrop you first need access to some type of cryptocurrency wallet which can be filled up by completing various tasks such as entering your email address, following a social media account, or even signing up for a new exchange.
Once you have a wallet, you can start looking for upcoming airdrops. Airdrops come in all shapes and sizes, but the most common way to qualify for them is to hold tokens from the project that is doing the airdrop.
Some airdrops distribute tokens to everyone who owns certain cryptocurrencies, such as Ethereum (ETH) or Bitcoin (BTC). For example, if you held BTC on January 1st 2019 and the BitTorrent team decided to do an airdrop on February 1st 2019, you would automatically receive BTT tokens.
How To Find Legit Airdrops?
The best way to find legit airdrops is to follow a credible source of information. One such source is AirdropAlert, which is a website that curates a list of the latest and upcoming airdrops.
Another way to find legit airdrops is by checking out websites like CoinMarketCap, which will list all upcoming and active airdrops.
You can also join Telegram groups and social media channels for specific projects to learn about their upcoming airdrops. However, it’s important to be aware that not all airdrops are legitimate and some may even be scams. For this reason, it’s important to do your own research before participating in any airdrops.
Things to Consider For Airdrops:
- How much is the airdrop worth?
- When will the airdrop happen?
- Is there a minimum amount of tokens you have to hold in order to qualify for the airdrop?
- Do you need BTC, ETH, or other cryptocurrencies in order to participate in the airdrop?
- Will exchanges support this token?
How To Maximize Your Rewards From Airdrops?
The easiest way to increase your chances of receiving tokens through an airdrop is by setting up an Ethereum (ETH) wallet, which you can do for free on MyEtherWallet or Trust Wallet.
Once you have set up an Ethereum wallet, make sure that the wallet address is valid, confirmed and accessible before the snapshot date given in the announcement email. Otherwise, you are likely to miss out on any potential bonuses. If this isn’t possible try using MetaMask as it keeps your ETH account online at all times.
You should also be prepared to provide KYC information if necessary because certain projects will ask for it in order to qualify for the airdrop.
Frequently Asked Questions:
1 – How do I know if an airdrop is legit?
Check AirdropAlert.com or CoinMarketCap for the latest and upcoming dates on all active and legitimate airdrops.
2 – How can I sign up for an airdrop?
Go to the website of the project that’s doing the airdrop or join their social media channel like Telegram or Discord.
3 – What type of cryptocurrency wallets are compatible with AirdropAlert?
We recommend using either MetaMask, MEW (MyEtherWallet), Trust Wallet, Enjin Wallet, Metamask + Trezor.
4 – Which cryptocurrencies qualify me for an airdrop?
Most often, you’ll need either BTC, ETH or ERC-20 tokens to participate in Airdrops.
5 – How much does it cost to sign up for an airdrop?
With most airdrops, there are no costs involved! This is completely free. However, some projects might ask you to hold their token before the snapshot date in order to qualify for the airdrop.
Airdrops are a great way to get free tokens for just participating and holding a few cryptocurrencies. They come in all shapes and sizes, so it’s important to do your own research before participating in any. The best way to find out about upcoming airdrops is to follow a credible source of information, such as techncrypto.com.