In recent times, huge airdrops from big projects such as Aptos, Optimism, ParaSwap, etc. have created a wave of Airdrop hunting from users in the Crypto market. So what is Airdrop? Why is Airdrop so hot? Let’s find out more details with Blogtienao through this article!
What is Airdrop?
Airdrop is an activity of distributing tokens of a project to the community, usually new projects launch tokens as a way for them to attract the attention of the community, help the project be known to more and more people. This can be considered as one of the most effective marketing methods in recent years.
Airdrop programs on platforms like Discord, Telegram
This is a form of Airdrop where tokens will be distributed to the community for free and you may not have to do any action. The only requirement is to create an account or provide your wallet address. However, this type of Airdrop may only have a certain amount of tokens, so you need to monitor and get early information to capture information about this Airdrop.
Bounty Airdrop is a form of Airdrop that requires you to complete more tasks, usually these tasks can be monitoring the project’s communication channels such as: Twitter, Telegram, Discord,… This is not too difficult.
Retroactive is a form of Airdrop that projects will Airdrop tokens that have early support for the project such as early users of the platform, contributions to the project, etc.
Typically for this type of Airdrop, there may be previous huge airdrops for users of Uniswap, Paraswap or most recently, Optimism, etc.
Airdrop for holders of a certain token on demand or hold NFT
This type of Airdrop requires users to hold a certain token or NFT as required to be eligible to receive the Airdrop. An example of this type of Airdrop is the recent Aptos and Hooker Protocol Airdrop (Airdrop for users who own the project’s NFT)
Examples of Airdrops
In September 2020, the crypto community stirred up when Uniswap suddenly announced an Airdrop of 400 UNI for 250,000 wallet addresses, estimating each wallet to receive more than 1000 USD at the time of the Airdrop. However, UNI’s airdrop value can be much larger when after the airdrop, UNI’s price reaches nearly 45 USD in May 2021.
In November 2021, the ParaSwap Foundation announced that it would Airdrop 150 million PSP tokens, representing about 7.5% of the total PSP 2 billion supply, to the first 20,000 users. It is estimated that each wallet receiving the ParaSwap Airdrop will receive up to several thousand dollars, depending on the PSP price.
The Optimism Airdrop is one of the notable airdrops of the crypto market in the past year, more than 250,000 valid wallet addresses based on active contributions to the Optimism ecosystem have received the OP token airdrop. It is estimated that each wallet that receives the Optimism Airdrop is worth more than 1000 USD each.
Aptos can be considered as an unexpected and noticeable Airdrop in 2022. When the Aptos Airdrop announcement was on the day of the APT token list of major exchanges on October 19, 2022.
According to the official announcement from Aptos Labs, the project will airdrop for those who participate in the Aptos Incentivized Testnet (a node running program) (300 APT wallets each) or have minted the Aptos Zero NFT testnet network (150 APT wallets each). It is estimated that each wallet that receives the Aptos Airdrop is worth more than 1000 USD each.
Who can participate in the Airdrop?
As I said at the beginning of the article, Airdrop is a form that projects want to reach the most users, so Airdrop programs, all users can participate.
What to prepare when participating in Airdrop?
To participate in Airdrop from projects, you need to prepare wallets from different chains such as: Ethereum, Solana, BNB Chain, Avalanche, etc. It is especially important to note that you must use a secondary wallet when participating. Airdrop activities from projects to avoid the risk of wallet hacking.
- Prepare a mobile phone number (the number of phone numbers you have will determine how many acc you have to register)
- Next from the phone numbers, you create Gmail accounts in turn -> Telegram (use the Web version for each browser, you should not download it) -> Twitter -> Discord.
- Download software to change IP addresses, here I often use Hola software (as a Chrome utility similar to Metamask wallet), this is an important step if you want to do multiple accounts. To use Hola, please go to the link: https://chrome.google.com/webstore/detail/hola-vpn-the-website-unbl/gkojfkhlekighikafcpjkiklfbnlmeio to download, then use each time to make your bets. I turn it on like the picture below, after using it, turn it off right away!
How to Join an Airdrop for Newbies
If you’re new to the world of cryptocurrencies, joining an Airdrop program can seem daunting. However, with a little bit of research and preparation, it’s actually quite easy to participate. Here are some steps to follow:
- Choose a legitimate Airdrop program: With the growing popularity of Airdrop programs, there are many fraudulent ones out there. To avoid being scammed, make sure to research and only join programs that are from reputable sources. You can find information about Airdrop programs on forums, social media, and cryptocurrency websites.
- Requirements for joining an Airdrop: Each Airdrop program will have its own set of requirements that you need to meet in order to participate. These may include following the project on social media, joining a Telegram group, or sharing posts on social media. It’s important to carefully read the requirements before you apply to ensure that you are eligible to participate.
- Step-by-step instructions for joining an Airdrop: Once you have identified a legitimate Airdrop program and have met the requirements, here are some general steps to follow to join the program:
Create a digital wallet: You will need a digital wallet to receive your Airdrop coins. Choose a reputable wallet and make sure to follow the instructions for setting it up. Remember to keep your private keys secure.
Register for the Airdrop: Visit the Airdrop program website and follow the instructions for registering. You will usually need to provide your name, email address, and digital wallet address.
Complete the requirements: Once you have registered, follow the instructions for completing the Airdrop program requirements. This may involve following social media accounts, joining a Telegram group, or other activities. Make sure to carefully read and follow the instructions to ensure that you are eligible to receive your Airdrop coins.
Wait for the distribution: After completing the requirements, you will need to wait for the Airdrop coins to be distributed. This may take a few days or even weeks, depending on the program. Be patient and check your digital wallet regularly to see if the coins have been deposited.
By following these steps, you can participate in Airdrop programs with confidence. Remember to always be cautious and do your research to avoid scams. With a little bit of effort, you can receive free coins and potentially profit from the growth of new cryptocurrencies.
Each airdrop from projects has its own requirements. Retroactive Airdrops will usually be of great value, so many brothers will focus on this type of Airdrop more, but often projects will take a snapshot before announcing it to the community, making identification become easier. hard. However, you can choose the following criteria to make your Airdrop hunting easier:
- Check media channels like Twitter for hashtags #Airdrop #Radioactive (filter out other criteria) and see if any projects stand out?
- Follow major Crypto channels with information about Airdrops.
Tips for Participating in an Airdrop
Participating in an Airdrop program can be exciting, but it’s important to be cautious and take steps to protect yourself. Here are some tips for newbies who want to participate in Airdrop programs:
- Secure your digital wallet: Your digital wallet is where your Airdrop coins will be deposited, so it’s important to make sure it is secure. Choose a reputable wallet and follow the instructions for setting it up. Keep your private keys safe and never share them with anyone.
- Verify the authenticity of the Airdrop program: There are many fraudulent Airdrop programs out there that are designed to steal your information or your coins. Before joining any Airdrop program, make sure to verify that it is legitimate. Check the program’s website, social media accounts, and forums for information about the program and its team members. If something seems too good to be true, it probably is.
- Be patient and check your account regularly: Airdrop programs can take time to distribute coins, so it’s important to be patient. Check your digital wallet regularly to see if the coins have been deposited. If you don’t see the coins in your account after a reasonable amount of time, contact the Airdrop program team to inquire about the status of your coins.
- Participate in multiple Airdrop programs: Participating in multiple Airdrop programs can increase your chances of receiving free coins. However, make sure to only join programs that you have thoroughly researched and are confident are legitimate.
- Be aware of taxes: Depending on where you live, you may need to pay taxes on your Airdrop coins. Make sure to consult with a tax professional to understand your obligations and to avoid any legal issues.
By following these tips, you can participate in Airdrop programs safely and potentially profit from the growth of new cryptocurrencies. Remember to always be cautious and do your research before joining any program.