Binance
It’s time to discuss crypto airdrops. These are crypto events that provide users with the opportunity to add new digital assets to their portfolios for free.
Crypto projects use airdrops to attract customers’ attention and retain new users by distributing several new tokens to those who meet the set conditions. If you stay current on airdrop news and enroll early, you may be one of the lucky recipients.
Let’s dive into learning how to find the best crypto airdrop for you! If you’re reading this article, chances are you are interested in learning how to get free crypto this year, and you found out that crypto airdrops are quite popular among the community.
Understand What Crypto Airdrops Are
Crypto airdrops are some of the most popular ways to draw attention to a new project. They involve distributing tokens to the wallets of a group of users who meet a set of requirements, typically free of charge.
Airdrop events are conducted by tokenless protocols or blockchain-based startups that want to start introducing coins in circulation to increase their visibility in the crypto market. Crypto projects use their official channels to announce the conditions, but you can also find information about them on specialized platforms.
The main reasons why crypto projects organize airdrops are:
- Boost the industry’s awareness of the project
- Encourage new users to take part in the project
- Improve marketing results by encouraging the enthusiasts to complete desired activities
- Fost community engagement
- Decentralize the protocol
- Increase project loyalty
What Types Of Airdrops Can You Benefit From?
Crypto airdrops are highly effective marketing and incentive tools that build communities and attract new users. If you want to add a new cryptocurrency to your portfolio via an airdrop, you should understand how different events function to make an informed decision.
Bug reporting airdrops
the project organizing a reporting airdrop will ask you to identify and report any vulnerabilities you discover in their system. You will get airdropped tokens in your wallet, which you can incentivize when they gain value. If you are a technical user, you will prefer these airdrops as they focus on improving the reporting security. You will also strengthen your skills and have an opportunity to show your expertise.
Learning-based airdrops
you are supposed to learn as much as possible about the project through various means provided by the organizers. They usually provide the participants with educational resources and ask them to answer quizzes or complete tasks in exchange for tokens. Their role is to enhance the community’s crypto education and awareness of the project. If you are a new crypto trader, this kind of airdrop might suit you perfectly because it will provide you with the opportunity to strengthen your knowledge of the crypto sector.
Testnet airdrops
you have to test a product in its development stage and report any issues with its features so that tokens can be received as rewards. Similarly to bug-testing airdrops, this category will suit you best if you have technical skills and are interested in blockchain innovation. Besides the tokens, you also gain exposure to technology and can impact the project’s direction through your feedback.
On-chain activity airdrops
you get tokens in exchange for being active on the blockchain and engaging in activities like lending, trading, or staking. The project distributes tokens to the users who engage in a list of established on-chain activities to encourage them to spend more time on the blockchain.
Community engagement airdrops
you are incentivized to participate in activities with the community that supports the project. You might have to join discussions, comment on posts, share social media posts, and engage in other similar activities to gain tokens. These airdrops are meant to boost the project’s exposure and build a user base.
High-frequency trading airdrops
you get rewards according to the frequency or volume of your transactions on the platform the event organizers pick. These airdrops aim to attract more traders to the platform and boost its liquidity. You will find this type of airdrop enticing if you’re a seasoned trader because it allows you to explore how effective your strategies are.
Holding-based airdrops
you are rewarded with tokens for holding specific cryptocurrencies in your wallet for a long time. It’s a classic airdrop type, and you don’t have to work as hard as before. However, you will invest part of your funds into particular assets. This type aims to encourage users to hold on to their assets over time, control token liquidity in the market, and encourage long-term retention. You should decide if you are comfortable with holding the assets in your portfolio while the market’s conditions change.
NFT holder airdrops
you must own a specific type of non-fungible token to qualify for this kind of airdrop. They are meant to boost the project’s value and functionality and are quite popular, considering the NFT sector has performed well over the last couple of years.
How can you find the best crypto airdrops?
Now that you know what types of crypto airdrops are available and have most likely decided which ones suit you best, you should learn how to find them.
- Use airdrop aggregators to find out about upcoming events
- Join crypto communities on platforms like X (Twitter), Telegram, and Discord
- Monitor official announcements from blockchain ecosystems such as Ethereum and Solana.
- Use crypto trackers to find out about airdrop announcements
Final words
Airdrops are marketing strategies used by crypto & blockchain startups. They usually launch crypto airdrops to attract users quickly and boost the project’s exposure in the sector. This method has been proven in the past to be highly effective at building an ecosystem around a coin from its early days to propel its success.
Established enterprises rarely offer these opportunities because it implies exposing themselves to financial and legal risks. Budding projects use them for greater user engagement.
So, if you want to add emerging projects to your portfolio, the best way to access them is by participating in airdrops.
