How To Find Best Airdrops for Profit

 Participants in the September 2020 Uniswap cryptocurrency exchange airdrop were given 400 UNI each. Token pricing initially varied within a range of $3. May 3, 2021, saw UNI hit $44. With just one airdrop, traders who sold tokens that day received close to $18,000!

Choosing and funding the appropriate project is sometimes all that is required to earn a little cash, and it may be done for nothing. This is the work of airdrop hunters.

Let's find out what airdrops are, where to locate them, how profitable they may be, and some potential problems.

 Crypto airdrops: What are they?

The process of distributing cryptocurrencies or non-fungible tokens (NFTs) is known as an airdrop. The act of delivering cargo from an airplane in flight is where the term "airdrop" originates.

The method is often completed independently by airdrop developers, which addresses three issues:

establishing a community for cryptocurrencies. There are no users and no turnover for recently introduced coins. Airdrops aid in forming the main viewership.

luring financial backers. To potential investors, a new currency with little trading volume can seem unappealing. The firm distributes tokens in order to naturally introduce the cryptocurrency to the market. The coins can be held in wallets by users, sold, or exchanged, which produces the statistics. 

motivating users. Among their most frequent users, several projects give either coins or NFTs. This is an easy method to increase user engagement, pique the curiosity of the audience, and draw in new users.

 

Terms for airdrops

Conditions for airdrops differ. Project managers may ask for social network subscriptions, friend invites, or reviews in certain situations, but in others, they may have other requests.

The screenshot that follows depicts normal airdrop circumstances. Tezos is leading this airdrop as of this writing. With its own blockchain that can be upgraded without splits, it has a more sophisticated ecology than Ethereum.

To promote Tezos Domains, a platform for domain name, the company staged an airdrop. We now know the requirements: in order to obtain TED tokens, a user must have a Tezos wallet, have a Tezos domain name registered by April 30, 2023, be a Discord subscriber, and utilize Tezos ecosystem applications.

Airdrops do not, however, always result in free money. There are many con artists in this sector since it is unregulated. Con artists may ask for reposts or other actions, say they will offer you tokens, and then vanish.

Airdrops are another tool that fraudsters might use to get access keys and passwords to people's digital possessions. You may utilize our prepared article, "How to DYOR," as a guide to steer clear of scam projects.

The potential earnings in airdrops 

Users that look for airdrops in order to generate money are known as airdrop hunters. Three things determine if they succeed:

Quantity of subscribers. Coins are occasionally restricted to well-known bloggers. Large audiences are preferred by the organizers since they can assist spread the word about the initiative to a wider audience. For this reason, revenue increases with the number of subscribers.

Market activity for airdrops. Hunters and participants who are active earn more than those who sometimes pay attention to airdrops.

Seasonality of the cryptocurrency market. There is typically a lack of airdrops during crypto winters. But during bull seasons, a lot of fresh offers surface, alerting airdrop enthusiasts.

Seasons have an impact on asset value as well. It is advisable to hold onto a promising coin you acquire during a decline rather than selling it right away, since its value can increase when the market starts to rebound.

Let's talk about statistics now. The question of how much money you can make via airdrops is one that has numerous solutions; the range is from a few dollars to several hundred or thousands. Some others even assert that you may get paid tens of thousands of dollars.

One may presume that the reader of this paper has little to no knowledge of the airdrop market. This is a warning: you shouldn't anticipate to make a solid living from the first few days of investing because it may take months to see results.

Airdropped coins must be kept somewhere safe. To understand all there is to know about keeping cryptocurrency, check out our wallet guide, which covers advantages, downsides, best solutions, cold and hot wallet uses, and storage kinds.

Where to look for airdrops

Crypto airdrop aggregator airdrops.io

All airdrops were divided into four groups by its developers: the newest, the hottest, the ones with the most promise, and the ones for asset holders. This platform stands out from similar ones due to its thorough explanation of each drop.

Dappradar.com is an aggregator for decentralized apps.

Though there aren't many advertisements there, the platform has a dedicated section with airdrops. However, DappRadar has a useful function that allows you to customize airdrop notifications. You must enter your email address in the "new airdrop notifications" section in order to subscribe.

Another cryptocurrency airdrop aggregator is airdropalert.com.

The goal of the platform's founders is to make Airdropalert the greatest resource for airdrops available. Depending on the asset type and date, they divided all offers into the following categories: DeFi and NFT airdrops, new, best, forthcoming, and past airdrops.

See our Telegram and Twitter for the greatest airdrops. Make sure you never miss out on earning possibilities by subscribing to our social media accounts!

Choosing airdrops: safety guidelines

The following five primary guidelines can assist you in identifying fraud and weeding out uninteresting projects:

1. Examine the investors' list. A plus if it features well-known brands. Big businesses won't finance initiatives that carry a lot of risk.

One of the major investors in the Uniswap cryptocurrency exchange in 2021 was Andreessen Horowitz, a venture capital firm. The cryptocurrency project Arbitrum received funding from Coinbase, another big trading platform, and launched an airdrop in the spring of 2023.

2. Verify if the requirements for the airdrop can be satisfied. You run the danger of squandering your time and coming up empty-handed if you don't fit the requirements.

If the project just has 20 subscribers and is interested in reposts from well-known bloggers, you shouldn't take part. This is an illustration of an airdrop with comparable specifications. Each thousand subscriptions entitles participants to $5. There won't be any revenue if there are few followers.

3. Examine viewpoints and opportunities. Many developers lack original concepts. Since secondary initiatives are rarely successful, their digital assets will be worthless.

The much-hyped decentralized social network friend.tech entered the market in the summer. Ten competitors now compete with the platform, using nearly identical terms and features. Since friend.tech has already established itself, they are unlikely to do anything, and as a result, their airdrops will not be profitable.

4. Look into tokenomics. The distribution of digital assets is known as tokenomics. Investors and airdrop participants often receive this information from the issuer, or the person who issues the coins.

A healthy tokenomics should include specifics like as the number of assets to be distributed, the number of assets locked and the anticipated date of their unlocking, the number of assets to be given to the project developers, etc. This is an illustration of the thorough tokenomics used by the Maverick Protocol project, which is presently running its coin airdop.

5. Explore the environment. The likelihood that a project's tokens will be valuable increases with the size of its ecosystem and the number of components it operates.

It makes sense to get involved in a project if it has its own blockchain and distributes airdrop currencies for network fee payments. Because of the increased demand, the price of these cryptocurrencies may increase. Solana conducted a similar airdrop in 2020. The cryptocurrency project utilizes a proprietary blockchain. The SOL token is currently ranked seventh in terms of market capitalization.

Is taking part in airdrops worth it?

Only if you take all necessary precautions is it worthwhile to participate in airdrops; otherwise, there is no danger involved. You can participate in the distribution without risk if the organizers don't need your passport information, wallet access keys, or any other private information. In any case, you ought to thoroughly investigate the project on your own.

Over time, airdropped assets may increase significantly in value, so don't rely on them as your primary source of revenue. They can only add something enjoyable to your primary income.