What is an Airdrop?
Many novice investors hope to catch a ride in the cryptocurrency market and earn some income for themselves. However, the high entry barriers and numerous technical terms in the Web3 world, coupled with the volatility of cryptocurrencies, have made many people hesitant to take the plunge.
The so-called “Airdrop” is actually a low-cost and easy way for beginners to enter the cryptocurrency market and make some profit.
An “Airdrop” is a marketing strategy adopted by new cryptocurrency projects to promote their projects or new tokens. Users can receive free tokens on the platform by completing simple tasks, such as following social media accounts and sharing posts.
In simple terms, if users contribute to the project in its early stages, they have the opportunity to receive native tokens when the project goes live. Of course, the more active they are in participating and interacting, the more tokens they can receive.
For users, if the free tokens received through Airdrops increase in value, it can be considered a “cost-free investment.” Even if the Airdrop tokens do not appreciate, there is no loss incurred (assuming the project is not a scam), making it a popular method among investors.
But how exactly do you do it?
1. Set up a cryptocurrency wallet
The first step to participate in Airdrops is to have a Web3 wallet compatible with the project’s blockchain. Two popular Airdrop wallets are MetaMask and Trust Wallet.
2. Research and fulfill Airdrop requirements
Cryptocurrency projects will announce Airdrop-related tasks and requirements on their official websites or community platforms such as X and Discord groups. These tasks may include following X accounts, staking a specific amount of Ether on the blockchain, or meeting the required number of posts in Discord groups. Basically, the goal is to become an active user of the Airdrop project and increase the chances of receiving tokens.
3. Claim the Airdrop tokens
Projects usually schedule specific time periods for Airdrops. Some projects directly airdrop tokens to user wallets, while others may require users to sign transactions or provide wallet addresses.
During this process, it is important to follow the correct procedures and exercise caution to avoid scams.
4. Manage the Airdrop tokens
Once the Airdrop tokens are received, it is important to manage and use them wisely. Users can choose to hold, use, or sell the tokens based on the project’s future roadmap. Therefore, it is advisable to carefully evaluate the project’s credibility, potential, and market value before making any decisions.
Additionally, many projects require Airdrop accounts to be “active accounts,” meaning it is better to have previous proof of activity on the blockchain, including transactions and staking, to increase the chances of successfully receiving the Airdrop.
How to find Airdrop projects?
However, there are numerous Airdrop projects, and many scams are mixed in between. How can you find the most valuable and promising projects for research within a limited time?
First and foremost, the most important principle when entering the cryptocurrency market is not to blindly follow information from social media platforms but to “DYOR (Do Your Own Research)” and conduct thorough research on your own. Therefore, it is crucial to find reliable tools and platforms.
Tool 1: Airdrop aggregation websites
AirDropAlert, launched in 2017, compiles ongoing Airdrops and provides screening tools to focus on interesting Airdrop projects such as DeFi and NFT.
Airdrops.io is a free cryptocurrency Airdrop aggregator that provides a list of recent Airdrop activities. The platform also provides detailed guides on how to claim Airdrops for the listed projects (e.g., some Airdrops are only reserved for holders of certain tokens).
Tool 2: Community platforms
X is one of the most popular social media platforms in the cryptocurrency market, where many cryptocurrency influencers and startups regularly release Airdrop information.
Discord is also an essential application in the cryptocurrency market. There are many community channels on Discord where users can follow the latest project information. If there are any questions about Airdrops, other users in the community can quickly provide friendly answers.
Tool 3: News platforms
Many overseas blockchain news platforms compile information about Airdrops. For example, articles on foresightnews have exclusive tags related to Airdrops, and under the “Timeline” category on the homepage, there are potential Airdrop summaries and new project summaries that can be regularly checked for updates.
Rootdata, a blockchain tracking platform, can also be used to find new projects on the blockchain. The “Trend” list on the platform shows projects with high funding activity, and these new projects generally have Airdrops. By searching these keywords on X, users can find relevant discussions and tweets, which is a good way to discover Airdrop projects.
Although Airdrops can be considered a low-cost and painless way to obtain cryptocurrencies, there are still scammers and malicious projects involved.
For example, during the search, there may be fake project Twitter accounts, official websites, phishing websites, etc. Clicking on these links may lead to the loss of assets in the wallet. There are also many Airdrop projects that are scams from the beginning, requiring users to invest tokens or high transaction fees (Gas Fee) to claim the Airdrop.
Therefore, even for investment activities that do not involve buying and selling tokens, it is important to approach with caution and be careful before clicking on any links to avoid scams and truly enjoy the joy of Airdrops in the cryptocurrency market.
How to claim an Airdrop?
Let’s take the popular game “Catizen” on the TON blockchain as an example.
First, visit the official website and find the project’s future roadmap. It clearly states that Airdrop tokens are scheduled to be distributed in the second quarter of 2024, and NFT and staking systems will be introduced after the third quarter. This confirms that it is a future “claimable” project.
The official statement indicates that tokens will be Airdropped to users who participate in testing the game, but there is currently no detailed information about the Airdrop rules on the official website or social media platform X.
However, based on the official Twitter messages, tasks such as “daily check-ins” and “wallet linking” are likely to be future requirements for claiming the Airdrop.
On April 29, 2024, the official announcement stated that the game will increase the maximum level of cats to level 450 after an update, indicating that many early players have already reached the “cap”.
To claim the Airdrop from this project, players can currently do the following:
1. Create a TON blockchain wallet (or use a wallet that supports the project’s blockchain).
2. Link the wallet to the game.
3. Follow the project’s community platforms (including X, Telegram, etc.).
4. Complete daily tasks in the game as much as possible.
5. Aim to reach a high game level.
6. Consider making in-game purchases (if unsure about specific tasks, it’s okay to postpone paid actions).
7. In summary, interact with the game and community as much as possible to increase the chances of receiving future Airdrops. If possible, manage multiple accounts to receive more Airdrop tokens.
Please note that this article does not constitute investment advice, and investors should seek independent opinions before making any investment decisions.