Since you’re here, you must know what crypto is. But if you’re not a devoted Apple user, the term “airdrop” may confuse you at first – it’s a function that lets you transfer files between Apple products without using wi-fi or cellular data.
The crypto ecosystem borrowed this term to name the giveaway of digital assets – crypto airdrops. And an airdrop in the crypto world is, arguably, a much neater thing because instead of getting pictures of your colleague’s new baby, you’re getting free coins!
In this article, you will learn more about what a crypto airdrop is, how to claim it, and not get scammed.
What is a crypto airdrop?
Image source: Thecoin.news
In the most basic sense, crypto airdrops are free money – native cryptocurrency or tokens that are transferred into your wallet from a blockchain project for free. Sometimes airdrops are distributed directly to users’ wallets; other times, you need to claim an airdrop by doing specific small tasks.
Why do crypto projects give away crypto coins?
No, crypto airdrops are not random acts of kindness. Just like with most things free – it’s done for marketing purposes. The goal is to raise awareness about the new crypto project and get crypto enthusiasts talking about it. This form of advertising is pretty efficient and helps spread the use of the coin and make the blockchain project more decentralized.
Plus, these coins are usually low value before people get interested in them. And, once the coins become more popular, their value increases and outweighs the price of those distributed for free.
Finally, successful airdrops are a great way to get valuable information on targeted crypto enthusiasts, as sometimes you will have to give in your email address.
How do crypto airdrops work?
There are a few different types of crypto airdrops, and most of them do the same thing – distribute a number of their coins or tokens to different wallet addresses. To claim an airdrop, you will most likely have to do a certain small task, such as following the new project on social media or registering for a newsletter.
4 main types of crypto airdrops
Here are the four main types of crypto airdrops you might get free tokens with.
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Standard airdrop
A standard airdrop is pretty straightforward and the most accessible of all types. You simply need to sign up for their newsletter or do a similar easy task to claim it.
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Exclusive airdrop
To get an exclusive airdrop, you need to have a history with the crypto project in question, such as being one of the project’s early adopters and an active crypto community member.
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Bounty airdrop
Crypto startups that distribute tokens with bounty airdrops want users to promote their projects. To get free crypto, you will have to retweet something from their Twitter account, create a social media post about them, or perform simple tasks like tagging your friends.
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Holder airdrop
Just like the name suggests, to claim holder airdrops, you need to already hold some tokens or cryptocurrency in your wallet – there is usually a minimum amount required to prove with a snapshot of your holdings. ETH, BTC, and BSC wallet holders have the biggest chances of claiming a holder airdrop since most new crypto projects are built on one of these blockchains.
How to claim a cryptocurrency airdrop in 2022?
To get free cryptocurrency, you need to have a crypto wallet. If you don’t have it yet, get the one that accepts various airdrop tokens. You should also hold several base tokens, such as Bitcoin (BTC) or Ethereum (ETH). Many crypto projects are built on base cryptocurrencies, so having these crypto holdings in your wallet will qualify you to claim more crypto airdrops.
Here are a few ways to get a hold of an upcoming airdrop in 2022:
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Get a Metamask wallet
Metamask is one of the most popular crypto wallets used for interactions within the Ethereum blockchain. You’ll be able to claim airdrops built on this major cryptocurrency; plus, there’s a rumor of an upcoming airdrop by Metamask!
Image source: metamask.io
Some crypto experts believe that those who use the Metamask swap feature (swap one crypto token for another) will get an airdrop. If this is true, it’s going to be pretty huge. Stay tuned for the news in the cryptocurrency forums!
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Join the Wizardia community
Wizardia is one of the best games to get airdropped tokens in 2022. Wizardia is a play-to-earn online role-playing strategy game with unique NFTs at its core. The game’s developers are currently offering epic airdrops with prize pools of about $5k.
There’s no better time to get involved with Wizardia – each of the game’s NFTs will generate passive revenue over time, and only a limited number of NFTs are available for this truly priceless opportunity.
Feeling excited? Sign up for Wizardia’s newsletter (scroll down to the end of the homepage) for the news of the next upcoming airdrop!
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Trade on OpenSea
There have also been rumors about a potential crypto airdrop from the Open Sea. OpenSea is an online marketplace where users can sell and trade their digital collectibles (NFTs). It’s a massive crypto platform – according to DappRadar, its cumulative trading volume is $30.78 billion!
So if you haven’t traded on Open Sea yet, go ahead, get an NFT and see what happens. Even if you don’t do very well at first, you will still have a piece of digital art that you’ll enjoy. And, who knows, maybe you’ll even get free crypto for it in the future? Check our article on Open sea royalties to learn more about how the platform works.
It pays to be involved. Give one of these platforms a go!
Crypto airdrops vs. ICOs
Some people confuse a crypto airdrop with an ICO (initial coin offering). While both concepts are related to new crypto projects, they’re entirely different things. An ICO is a crowdfunding method where blockchain-based projects sell a certain amount of coins to crypto investors. On the other hand, crypto airdrops don’t require any investment from users—you get coins for free.
Be aware of airdrop scams
Since crypto airdrops are so appealing, they are often used by scammers. Be careful with giving out your personal information when signing up for a crypto airdrop. To make sure you don’t get scammed, always research crypto projects you want to get tokens from.
Here’s how to recognize airdrop scams:
- They ask you for your private key. NEVER reveal it, no matter how great the airdrop sounds! If scammers get your private key, they will be able to access your cryptocurrency wallet and control your coins. You should be the only one who has access to your private keys.
- If the airdrop is announced on a brand new Twitter account with only a few hundred followers and no usage history, this is a red flag. Of course, there’s a chance that it’s simply a new project that needs to gain traction. But do your own research to be on the safe side.
- They’re dropping a well-established coin. Crypto airdrops are meant for creating awareness. Does EOS really need publicity?
- There’s no mention of the airdrop outside the project’s channels. Airdrops that are trustworthy and have a big potential will have the crypto ecosystem buzzing about them. YouTubers will create videos speculating whether it’s the next big thing, Medium writers will give their five best tips on how to claim the airdrop, and there will be lots of discussions on social media.
- If thousands of wallet addresses hold the airdropped token, but no one is trading it, it’s probably a scam. It also could simply be one of those blockchain projects that the crypto community didn’t get excited about, in which case it’s not worth your attention either.
FAQ
What is airdrop crypto?
A crypto airdrop is a marketing strategy that new projects use to create awareness in the crypto space. They send new cryptocurrency or other digital assets to wallet holders for free in hopes that users will start to engage with them.
How does an airdrop work in crypto?
There are a few different ways to perform a crypto airdrop. For instance, you can get users to do a simple task such as signing up for a newsletter, posting something on social media, or engaging in other promotional activities. You can also distribute free tokens to holders of a specific virtual currency. The thing common to all airdrops is that a recipient needs to have a wallet address.
Is crypto airdrop safe?
While crypto airdrops are a great way to get free digital assets, they’re not risk-free. Many scammers will try to trick you to get a hold of your wallet. For example, if you’re asked to give away your private key, it’s definitely a scam. Always do your own research to ensure the project organizing an airdrop has people talking about it outside its social media accounts.
Are crypto airdrops worth it?
Do you like free money? Then yes, it’s worth it. However, you do have to take some time to research airdrops to find the one with the most potential. And there’s still a chance that it won’t gain traction among the community, and you’ll have wasted your time trying to claim it. On the other hand, there have been a lot of giveaways worth hundreds of thousands of dollars, so it may be worth the risk.
Are airdrops free crypto?
Yes, you can get free cryptocurrency, NFTs, or other tokens with airdrops.
Julija Paškevičienė
Julija is a freelance content marketer. Specialized in content writing, social media, and finding the best dog memes, she helps businesses get their message across and create content that sells.
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