Crypto airdrops are the way by which new crypto projects get their tokens into the hands of potential users. They also create opportunities for crypto enthusiasts to get free tokens while meeting certain conditions and following rules.
These conditions and rules have evolved over time and become more complicated as crypto awareness continues to increase. As a result, crypto airdrops have also become more competitive, and less and less people can meet the conditions.
Based on the differing conditions, there are different types of crypto airdrops, and new types keep emerging as the conditions continue to vary. The ones below are however the most common and the ones you’re likely to find or have participated in.
Bounty Airdrops
These are the most common types of airdrops. You’ll get a share of the tokens by simply performing specific promotional activities for the project. These may include sharing posts on social media, joining Telegram groups, or referring friends to the project.
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This type of airdrops are used primarily to create awareness and generate interest among potential users, and are used to promote a new cryptocurrency or blockchain project.
Exclusive Airdrops
Only an exclusive group of people are qualified for this kind of airdrop. The tokens are shared to specific crypto wallets that are pre-qualified. The recipients usually have a history with the project, either interacting with the project through their wallets or some other ways.
An example is the historical 2021 Uniswap airdrop in which Uniswap airdropped 400 of its UNI tokens to every user that ever interacted with the decentralized exchange through their wallet. It was probably the most rewarding airdrop in the history of cryptocurrency.
Holder Airdrops
This airdrop is reserved for those holding a token. The token may be the one being airdropped or a different one. They are intended as a way of appreciating holders of the token, and to further increase their loyalty to the project.
For example, a project may decide to airdrop its tokens to holders of its cryptocurrency based on how much they hold. This is a direct reward based on how much you have invested in the project at the time of the airdrop.
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How can you Participate in a Crypto Airdrop?
To participate in a crypto airdrop, there are certain conditions you must meet. However, the conditions aren’t always spelt out, but these ones are the basics that can qualify you for some airdrops.
Get a Crypto Wallet
Without a crypto wallet, it is impossible to interact with the crypto space, let alone receive an airdrop. Therefore before you even set out to look for airdrops, you should get yourself a crypto wallet. Fortunately, you don’t have to own any crypto assets to create one.
Search for Airdrops
There are many places where you can find crypto airdrops. You can find them on different social media platforms, but mostly on websites dedicated to sharing crypto airdrop information. After finding the airdrops, do an in-depth research on the project to ensure it is legitimate before proceeding.
Also check if you meet the specific requirements for qualifying for the airdrop to see if you can meet them. This is important because without meeting such conditions, you’ll not be considered for the airdrop even if you put some effort into getting it.
Follow the Instructions
Now that you’ve checked the project and seen that you can meet the conditions, it’s time to meet them. If you’re required to carry out certain activities, do so. Anything you can do that is required should be done.
Claim Your Rewards
After confirming and following the instructions to qualify for the airdrop, you can then claim your airdrop reward. Sometimes, it is automatically sent to your provided crypto wallet, but sometimes you may need to take an extra step to claim it.
The tokens are then your responsibility and you must protect them from thieves and scammers trying to take them from you. One way to do this is to make sure you don’t share your private wallet information with a third party.
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