Crypto Airdrops – Everything You Need To Know

As the world of crypto is evolving, so is the terminology that surrounds it. While a lot of people are familiar with the concept of cryptocurrency, mining, and probably with terms like NFT-s, there are some that are not used that often. One of those terms tends to be crypto airdrops, and while it is not used too much, there is actually a good reason behind it, because those who know, usually tend to keep it to themselves.

In this article we explain crypto airdrops in more detail, how you can get involved in crypto aidrops for 2024 and the best crypto airdrops to look out for this year!

What are crypto airdrops?

You might be familiar with popular marketing strategies where certain companies would be using certain strategies to promote their new product by giving it away with the purchase of another product, or completely for free in order to spark interest.

Well, similar to that, it is not uncommon that a company airdrops cryptocurrency that they have created in order to spark interest and promote it to the world. However, unlike real products that tend to be physical and can be eaten or tested in some way, these airdrops contain cryptocurrency that people can use to trade, invest with, or simply save in their wallet until they see how it adapts to the ever-changing cryptocurrency and NFT marketplace.

IIn order to promote their crypto airdrops, companies will use various methods like using social media, blogs, other cryptocurrency networks and even influencers in some cases.

Depending on the project and the channel they opt to promote the airdrop can mean there is potential foul play as we have seen hit mainstream news and policy making.

To avoid any headache, always ask yourself “Is this cryptocurrency airdrop legit?” and also, “What value does this crypto project bring?”.

How do crypto airdrops work?

Now that you know more about the airdrops crypto meaning, let us talk about how exactly do crypto airdrops work? Since most of you reading this are probably interested in crypto for esports, let’s begin with that as esports is a very good example for airdrops.

For instance, if a company creates a crypto game, in order to promote it, they are going to give a couple of airdrops for the virtual currency that is a part of their original blockchain in order to spark interest and get more people to play their new game. How to get free crypto airdrops for a newly released gaming crypto platform you may wonder? There are a couple of methods.

The most common way a company will give away crypto airdrops is by adding their cryptocurrency to your wallet if you do them a small favor like sharing your opinion or a reputable crypto forum, your social media, or blog.

Companies will mostly reach out to you if you happen to have a bigger social media following, but it is not uncommon for them to also make some airdrops crypto Reddit posts where anyone can get some free cryptocurrencies or NFTs that are a part of their new game.

While a lot of companies tend to use their own new cryptocurrency for the airdrops, the most popular way to do it is by sending bitcoin or Ethereum currencies to a wallet as they are the highest in value and most used of all cryptocurrencies.

A lot of people seem to confuse the terms airdrop and ICO. This is understandable, as they are both ways to promote a product or cryptocurrency, the main difference is that airdrops tend to be free or promo-for-currency while ICO is usually offered for purchase to investors to help kick the currency off big.

Where can you get free crypto airdrops?

Probably the main reason why you are interested in crypto airdrops is that you would really like to increase the size of your crypto wallet with some free currencies and potentially make a profit, so let us discuss how you can get free crypto airdrops.

Unfortunately, there is no exact place to check out where you can constantly get some free crypto airdrops, but instead, there are a couple of methods you can use in order to find them. For starters, it is best to perform regular online searches for opportunities that give free crypto airdrops.

Once you happen to find some airdrop aggregators, try following them and sign up for exclusive airdrop opportunities whenever you can. Finding newly created platforms that are looking for new users often give airdrops to get people started off, while older platforms will rarely do this, hence you should avoid them if you want free airdrops.

Finally, if you monitor upcoming projects that are announced and being worked on, you may get your hands on some free crypto airdrops when the project is close to completion, of it some testing is needed from the public before the project is officially released, like a beta test.

It is also not uncommon for a company to offer their airdrops to a crypto broker who will then promote the currency or the product behind the airdrop in their own fashion. Of course, one thing you should remember about crypto airdrops is that they can sometimes be very risky.

Crypto airdrops via Reddit have proven to be some of the biggest crypto airdrops in history. NFTs released have gone on to sell for large amounts and are released now on a regular basis!

What is the biggest Crypto Airdrop?

Crypto airdrops are some of the best ways to get free crypto and rewards. Despite a short history, there have been some pretty big airdrops happen. These have given crypto enthusiasts incredible gains from little to no upfront investment.

One of the biggest airdrops in crypto history was back in 2016. This came from Decred, which is a currency “with a strong focus on community input, open governance, and sustainable funding for development”.

Users were able to claim 258.93958076 $DCR tokens by simply providing them with a wallet address. Over 3000 people entered spread across 99 countries.

Another huge historical crypto airdrop came from Ontology. This blockchain allows development teams to build dApps on their distributed ledger network.

At the time the $ONT token was worth around $10 and to many users’ surprise, 1000 of the token was distributed to wallet addresses. That is a huge gain, and all they had to do was sign up to their email newsletter.

Are airdrops worth it?

At the end of the day, this is the ultimate question, and the answer to it really depends on what you are getting from the airdrop, and if it is a scam or not. There are quite a lot of crypto airdrops out there that end up being completely useless and worthless, while there are some that can really explode in value if the product behind them tends to become popular.

Doing some research before you get involved with an airdrop is highly suggested because even if they are completely legit, they can end up being a waste of time if they are worthless, and we probably all know the famous “time is money “ quote very well.

When it comes to the implications that an airdrop is a scam, you should never give away your private key or connect your wallet to an untrusted party. Scammers also tend to add a fake token to your wallet sometimes which is hard to discover, and the best way to treat airdrops is as if they are a scam, to begin with until your research proves otherwise.

If you randomly see a celebrity or influencer promoting a crypto project or airdrop you may want to stay clear. Previously the likes of Jake Paul and Soulja Boy have faced lawsuits for the promotion of crypto that then lead to investors and fans being scammed. Stay clear if a celebrity tries to give you financial advice, (unless they are qualified to do so!).

It is always best to do your own research. We have explained crypto airdrops, but if this is your first exposure to them be sure to do more research.

@ Brickken

Top Crypto Airdrops for 2024

Crypto airdrops in 2024 are looking promising with some really big projects looking to distribute tokens to users. Below are the best crypto airdrops for 2024.

Tamadoge

Tamadoge is the next big . It is a gaming platform that has a number of doge themed games on it in an 8-bit style. 10 lucky winners have the chance of winning $3000 worth of TAMA.

Tamadoge had an extremely successful presale for $TAMA, so we can expect the same for this airdrop.

MetaMask

MetaMask is one of the biggest non-custodial wallets operating on Ethereum. They are hinting at a release of their own native token this year, which could lead to an airdrop. This could be the biggest crypto airdrop of 2024.

We hope this goes as planned as this would be a great advancement for MetaMask.

ConsenSys

In celebration of the Ethereum Shanghai/Capella upgrade, an NFT collection called “Ethereum, Evolved: Shanghai” is being released. This is a limited drop, only available for 24 hours. ConsenSys is a platform that allows devs to build via the Ethereum blockchain.

Whilst this is a free airdrop, please be aware you will require ETH to cover gas fees!

There we have our guide to crypto airdrops in 2024. Airdrops are a great way to gain exposure to web3. Not only are they often free to get, they can also offer lucrative long term gains if you choose the right project!

Of course there are drawbacks, but overall if you do the correct research and due diligence you are in for a treat. Keep your eye out on social media and big exchanges like Coinbase and Binance for the best crypto airdrops this year.