Cryptocurrency airdrops are becoming more popular as both the number of individuals engaged in the cryptocurrency industry and the number of cryptocurrency enthusiasts increase. Promoters of cryptocurrencies have said that airdrops are simply marketing strategies that are used by blockchain-based services. The question of how to earn from airdrops and What is Airdrop? is common among those who are new to the cryptocurrency sector. Let’s get started with the main topic of this blog article, which is learning how to earn from airdrops.
5 Types of Airdrops.
- Normal Airdrop: In a normal crypto airdrop, participants just express interest. Some airdrops need just a valid wallet address. Normal airdrops release a specific number of tokens and limit how many each person may get. Time-sensitive airdrops are common. Popular because of their simplicity, these airdrops may be harder to achieve since a single user might create many wallets to fast drain the airdrop amount.
- Bounty Event: When users complete tasks, they get crypto airdrops. These tasks frequently include posting on social media and tagging the company or retweeting a project message. Individuals who promote other users, sign up for the project’s newsletter, or join the company’s Discord channel may get referral incentives or finder fees. Users earn points for completing activities that determine the size of their reward airdrop. Users may need to earn points before receiving an airdrop. A user may be eligible for an airdrop after collecting 500 points, with each item worth 100.
- Crypto Holder: Holder crypto airdrops are depending on how many tokens holders have. All blockchain users have complete transparency into wallets and token distribution since they are part of a publicly distributed ledger. Token holders may not desire an airdrop. Alternatively, holder airdrops benefit just the richest investors. Some holder airdrops may only reward tokens if members own a particular number; otherwise, they may top player the payout.
- Featured Airdrop: An exclusive crypto airdrop involves selecting certain persons for the airdrop. They may be picked based on time spent on a project, money spent on non-token activities, or forum postings, not tokens. An exclusive airdrop rewards people closest to the project and may be sent to wallets with no tokens.
- Random Airdrop: It is possible to combine many of the different sorts of airdrops described above to create a raffle airdrop. Quite often, a project may announce the number of airdrops that they want to give away and encourage people to obtain a lottery ticket in order to be eligible for the giveaway. This ticket may be obtained by collecting tokens, gaining points, or even just showing interest in the event. In the end, the number of people who are interested in participating in the airdrop often surpasses the number of airdrops that the company desires to give. As a result, a lottery will take place, and a certain number of wallet addresses will be chosen at random to receive the airdrop.
Earnings from crypto airdrops.
We will try to understand how to earn from airdrop through an example. To earn from these 5 types of airdrops we need to know when the airdrops are announced and what we need to participate in. First, choose a trusted platform that shares genuine airdrops with the community, you can check the Airdrop section of CoinFreaks|Airdrop we always share genuine and profitable airdrops.
You can follow various projects on social media to get updates on upcoming airdrops. We will now participate in an airdrop of Coin Freaks and learn how to earn from it. We have an airdrop called Coin Freaks Community Giveaway where we are asked to join various social media and lastly fill out a form. We will complete all the tasks like joining Telegram and following on Twitter, and finally submit the form with all the details, from the accounts we have completed the tasks.
The total value of the Airdrop is $1000 which we will divide among all participants. If 50 people participate in our airdrop, each will receive $20 in BUSD. Now the question may come where I can get this $20? Look at the image below, where you are asked to fill out the form and give your Binance Pay ID.
We will send your reward to that ID after the airdrop. Various airdrops may ask you for a wallet address such as ERC-20. BEP-20, TRC-20. We will get all these wallet addresses in one wallet which is TrustWallet. And for some airdrops, we have to claim manually. Companies will announce on their social media how to claim. It is very easy to participate in Airdrop and also very easy to earn from it.
Crypto Airdrop scams explained.
Legitimate crypto airdrops never require investment. Promotional only. In a dusting scam, unwary users are sent tiny quantities of bitcoin or other cryptocurrencies. Airdrop scams may potentially entice market players to buy an asset in exchange for another. A project may claim that possessing specific NFTs will result in a rare airdrop. The project owners may have used the airdrop to boost NFT market activity so they could sell theirs for more.
Suspicious cryptocurrency deposits should be avoided. Users should know the projects they invest in or claim assets for. Do your own research is a typical cryptocurrency expression. Crypto airdrop participants should avoid unfamiliar websites. This includes ensuring external connections are project-related. Bookmark regularly visited sites to guarantee you’re always on the proper one.
Airdrops and other promotions are regularly publicized. Follow the project on social media, forums, or Discord to learn about forthcoming events. Be aware that scammers may impersonate project social media pages. If you don’t want airdrops tied to main investments, use a separate wallet. You may move tokens between wallets after getting them. Keeping crypto in various wallets spreads and reduces risk.
Cryptocurrency airdrops are a method that businesses and projects may use to increase exposure for their token or coin. Giving up their security to hundreds of different wallets is another strategy to boost the asset’s liquidity and make it more marketable.
There are huge risks involved if users are not aware of the possible frauds that are associated with crypto airdrops. Despite the fact that airdrops have value and might be considered free money, there are also significant risks involved.