What Are The Best Ways To Receive Airdrops?

 It's the cryptocurrency airdrop season and the prudent investor is scanning its sources for the most recent airdrop alert. Crypto airdrops can reap hundreds of dollars of returns and accelerate a blockchain-related project's adoption process.

Airdrops are an innovative marketing strategy that developers and project teams make use of in crypto token promotion. Marketing teams, for instance, send out press releases, social media and blogs to inform customers who are loyal or their intended users of the imminent free token issuance process.

Therefore, a crypto airdrop is an excellent risk-free opportunity to collect free digital currencies that could increase in value in the future. A marketing strategy that is guerilla airdrops are a clear break from the traditional marketing strategy, drawing attention of users through the use of social media messages that are viral.

They can capitalize on the markets FOMO (Fear of Being Missing Out) attitude and its constant love of free things. Therefore, they are low cost and small budget strategies that generate a massive excitement and lasting impact on the people who experience them firsthand.

A crypto airdrop alert, however, does much more than simply promote the project. It creates enthusiasm and discussion around the blockchain technology and help attract more investors.

A successful crypto airdrop can start a new venture. In addition airdrops are a fantastic decentralized token distribution tool. They allow for equal distribution of Governance tokens at the day of launch for projects.

History of crypto airdrops

Cryptocurrency airdrops are a phenomenon that is as old as the industry itself. As an illustration, Gavin Andersen's freebitcoins.appspot.com site gave away 5 BTC free in 2010. To win the free bitcoin, all visitors had to do was solve an e-captcha!

In the past, Gavin was the chief Bitcoin blockchain software developer and made use of the website to spread awareness of BTC. He gave away 19,700 BTC during the airdrop process. That BTC is worth a fortune in the present.

Since then, thousands of blockchain companies have released airdrop alerts. One of the most exciting early crypto alerts, for example, was the Decred airdrop in the year 2016. The Decred airdrop distributed 258,000 DCR. At its April 2021 peak the average DCR token cost $246, up from a low of $1.2 at the time of issuance.

At the height of the ICO season, the unusual airdrop phenomenon became a trend in 2017. Many projects offered free tokens to their holders. While certain tokens had no value, others opened doors to fortunes. Airdrops were not just reserved for projects that were just starting out. Hard forks and established blockchains also used them to ramp the acclaim of their projects.

For instance, Bitcoin Cash and Stellar blockchains had impressive airdrop projects in 2017. In June 2017, Stellar issued $1000 XLM per BTC to every bitcoin holder. The open-source, decentralized and low-cost digital currency transfer service gave away 19.5% of their supply during this specific airdrop.

In 2018, Stellar once more issued $125 million XLM tokens to its users as one of the biggest crypto airdrops. In February of 2019, however, BitTorrent has been giving 100 billion BTT to TRX holders. The BTT airdrop is scheduled to run until 2025.

Some of the most lucrative airdrops include the Uniswap (UNI), 1inch, OpenDAO and the Ethereum Name Service (ENS) airdrops. For example, the 2020 Uniswap airdrop offered all DEX (DEX) users for free UNI.

Accounts that were eligible to carry at least 1 transaction through the DEX received 400 UNI. Most free token recipients immediately sold their tokens in exchanges for an average of $2-$4. The long-term UNI owner had more lucrative returns. Later, UNI rose to an record-setting $43 in May 2021.

The 1inch airdrop alert was sent out in late 2020. The DEX offered 90 million 1INCH to over 55,000 addresses. All the users had to do to be eligible to win 1INCH was to make at least four trades or make a $20 transaction on DEX.

Afterwards, the price of 1INCH rapidly increased to $2.7 up to the all time record $7.4 at the end of May in 2021. The juicy ENS airdrop occurred in the month of November 2021. The uncentralized Domain Name System (DNS) service, which is the provider of Ethereum wallet addresses, also known as .eth Domain names offered 25 percent of the supply of $ENS to .ETH holders.

However the OpenDAO, $SOS airdrop provided OpenSea customers with tokens that skyrocketed in value by 1000% within a few days of trading.

The value of the token rose from lows of $26 at the time of issuance, to an all-time high of $77 in the span of two trading weeks. Have you heard that several countries have also joined the airdrop phenomenon? El Salvador, for instance has offered every adult citizen who installed the BTC wallet app with $30 worth of BTC in June 2021.

Ukraine was also planning to offer a crypto airdrop for supporters of its crypto donation campaign but has since scrapped it and decided to adopt NFT Airdrops as an alternative.

How do you profit from cryptocurrency airdrops

Crypto airdrops are tools that aid in forming'skin-in the-game' fans. They encourage engagement and increase the participation of blockchain-related projects. In addition, crypto-related giveaways could help fledgling projects scale and can provide massive benefits to users.

Crypto investors can benefit from crypto airdrops, and can earn juicy returns from free cryptocurrencies. To make the most of crypto airdrops, you must be aware of airdrops via crypto news aggregator websites such as Algory.

The Algory News Scanner is the ideal source for real-time cryptocurrency industry news. Utilize it to keep track of hundreds of news sources as well as airdrop websites. Then, be the first to be informed and stake your claim on the best use case project tokens that are at the lowest of the barrel token prices.

You can profit from the airdrop tokens through

Collecting as many airdrops as you can.

You can make massive returns from token giveaways for free by taking advantage of the top tokens in their initial stages of value growth. These free tokens will not only add value but will also help diversify your portfolio. This being said, here's a caveat emptor.

While it is true that you can make returns as an early investor in airdrops however, you'll come across numerous fraudulent, scam, and suspicious projects online. So do your homework using research tools like the Algory crypto market scanning tool's filters and alerts, and pinpoint any scammy airdrop alert in time.

If you do not research, you could spend hours meeting a token airdrop's requirements for eligibility and end up winning worthless tokens at the end of it all. Certain crypto airdrops can lead to hacking, phishing dusting or pump-and dump schemes.

As an illustration, Oyster Pearl issued 2227 PRL tokens in an exclusive airdrop in November 2017. It was among the most sought after airdrops at the time. At its peak the value of the airdrop was over $11,000. Unfortunately, its founder, who was known under the pseudonym Bruno Block, drained all value from PRL tokens, defrauding Oyster's early backers.

Be careful, and always do your Own Research (DYOR). Understand a project's use case prior to granting it your support. The majority of fraudsters promote useless projects. To avoid scams like pump-and-dump from the beginning, stay away from the airdrops that are tokens that is more about the hype than value.

Such projects may be rug pull projects and Phishing projects that make you open to the possibility of receiving marketing emails. Additionally, fraudsters are known to sell private information like public and email addresses to third party.

In general of thumb, all airdrop alerts offer free prizes. Beware of alerts from airdrops which ask for cash, crypto private keys, seed phrases in exchange for free tokens.

You can take your free tokens

Many Proof-of-Stakes (PoS) blockchain projects issue airdrop notifications every day. To illustrate, Cosmos and Solana ecosystems could announce airdrops. Then, you could place these tokens in a stake and earn a profit.

The opportunity to stake free PoS tokens can open the door to stake rewards and decentralized finance protocols such as liquidity mining and yield farming. For example, in March 2021, Anchor Protocol gave away 50 million ANC or five percent of its stock for Terra (LUNA) stakers. LUNA holders that keep staking their tokens in the future will earn more and will receive free ANC for two years.

Furthermore, you may receive airdrop tokens in the future if you stake your giveaway tokens. Staking grants significant rewards for stakers as well as validators. For example, Osmosis (OSMO), an initiative of the Cosmos project, gave ATOM holders 20% of the OSMO supply on the day of launch.

However, the users who invested in OSMO as validators earned the remaining 80 percent of its tokens. The Osmosis team's strategy was to reward nodes that secure their network.

It also allows for benefits from governance, while also shaping decentralized communities. For instance, you can gain more airdrop tokens participating in blockchain governance processes. JET Protocol, for instance is one of the Solana project, comes with a Jet Governance module that airdrops tokens to holders who cast votes on proposed proposals. Additionally, the holders earn JET when the token lock time is complete.

Earning more tokens through referrals

Free token distribution can also be used as a reward system that rewards community members who help increase awareness of the project. Incentivizing the chief project awareness champions will ensure that decentralized applications' usage cases and tokens reach broad viewers before the exchange trading process kicks off.

An increased level of project awareness could result in quick token value increases on the project's launch. In this regard you can profit from crypto airdrops by partaking in airdrop referral programs. Research an airdrop alert, sign up to an airdrop referral system, and invite your friends to join the project, and then get the referral token for airdrops.

Earning tokens when you meet the requirements for airdrops.

There are a variety of airdrops. An airdrop that is a standard one promotes an cryptocurrency by sending cryptocurrency coins to addresses for wallets. Airdrops are beneficial to beginners as well as experienced traders in the crypto market because they do not have any requirements for eligibility.

Different forms of crypto airdrops pay users who meet certain requirements for activity. In this case, bounty airdrops will reward project promoters , while exclusive airdrops target real project users. Holder airdrops could target the stakers or investors with an amount of tokens in their wallets.

You too can enjoy exclusive airdrops when fulfilling certain requirements, such as playing games that earn you cryptocurrencies or studying about cryptocurrency. For instance it is possible to get free XLM by simply learning more about it. Other exclusive airdrop token reward tasks include the creation of wallets or trading on a DEX.

Other benefits of airdrops of crypto

They're an investment strategy that is risk-free and crypto.

- You will not lose any investment capital should the airdrop token decrease in value. Be on the lookout for scams when looking for free crypto coins.

These are opportunities to get in on the excitement at the beginning of a project.

Airdrop tokens can reward long term holders with 100X returns.

- Income generation

- Professional bounty or airdrop hunters earn a living off airdrop tokens and their referral systems.

- Crypto education opportunities

Announcing an airdrop is an excellent opportunity for crypto education. Join a project's telegram group or discord server and learn more about the world of crypto.

Conclusion

Being aware of an airdrop's alert early is essential to take advantage of the most lucrative crypto airdrops. Use the Algory cryptocurrency news aggregator to scan the crypto world for the most up-to-date news on airdrops, and exchanges issue bonuses to maximize the benefits.