What is Airdrop?
Airdrop is a form of distributing tokens for free to users. Projects often use airdrops as a marketing strategy to promote the project, build a community, and increase engagement.
Why do projects do Airdrops?
There are three main reasons for project airdrops:
Increase Awareness: Airdrops help projects reach a larger audience, thus increasing awareness.
Build Community: Airdrops assist in building a loyal user community.
Boost Engagement: Airdrops encourage users to participate in project activities, enhancing engagement.
What should you prepare for Airdrop Hunting?
To participate in airdrop hunting, you should prepare the following:
Social Media Accounts: Platforms like Twitter, Telegram, Discord are commonly used for airdrop announcements.
Non-Custodial Wallet: This type of wallet ensures you have full control over your private key, securing your assets.
Basic Knowledge: You need fundamental knowledge about cryptocurrencies, including wallet creation, transaction execution, and asset security.
Is Airdrop Hunting easy?
The answer depends on you. If you simply join straightforward airdrops that require no investment, it's relatively easy. However, if you aim for higher-value airdrops that involve more complex tasks, it becomes challenging.
What is the purpose of doing Airdrops?
Airdrop tasks typically include:
Account Registration: The simplest airdrop task; just create an account on the project's website or app.
Social Media Tasks: These tasks often include following, retweeting, commenting on platforms like Twitter, Telegram, Discord.
Testnet Participation: Testnet is the trial version of the project's product. You can join the Testnet to experience the product and earn airdrops.
Mainnet Product Experience: When the project officially launches, you can participate in experiencing the mainnet product and earn airdrops.
Which projects should a newbie choose to start with?
For newbies, consider:
Simple, No-Capital Airdrops: These may have lower value, but they provide an easy entry for accumulating experience.
Testnet Airdrops: These tend to have higher value, but you need to invest time in understanding how the project operates.
Is it guaranteed to receive rewards from Airdrops?
Nothing in the cryptocurrency market, including airdrops, is guaranteed. Many projects may not confirm airdrop information or adhere to reward conditions.
How to receive Airdrops, and when do you get the funds?
Upon airdrop announcements, projects will provide specific instructions on how to receive airdrops. The time to receive airdrops can take several months or even more than a year.
How much capital is needed for Airdrop Hunting?
Zero Dollars: You can still participate in simple, no-capital airdrops.
Minimum Capital of $100 - $200: This is suitable for participating in airdrops that require users to perform more complex tasks, such as experiencing mainnet products.
Is it still possible to start now? The answer depends on the project. Some projects have taken a snapshot of airdrops long ago, while others have not. Stay updated by following project announcements.
Can you create multiple wallets?
No one prohibits you from creating multiple wallets, but consider:
Sybil Attack: Creating numerous wallets may raise suspicions of conducting a Sybil attack.
Management: Managing multiple wallets can be complex and time-consuming. Ensure you have the ability to manage them efficiently.
Cost: Creating and maintaining multiple wallets can be costly. Calculate these expenses before deciding.
How many transactions need to be performed for retroactive mainnet hunting?
This depends on the project. Each project has different conditions regarding the number of transactions, points, transaction volume, and operational time. Research the project's conditions to determine how many transactions are required.
With so many projects, how to filter and choose?
You can filter projects based on the following criteria:
Reputable Projects: Choose projects developed by experienced teams with growth potential.
Large Community Projects: A large community indicates that the project is receiving attention and has growth potential.
Projects with Good Products/Services: Select projects with good products or services that address real-world issues.
Where to get information about projects?
You can get project information from:
Project's Communication Channels: Projects often announce airdrops on their official channels such as websites, Twitter, Telegram, Discord.
Airdrop Aggregator Websites: There are many websites that aggregate airdrops, making it easy to find airdrop projects.
Cryptocurrency Communities: Join cryptocurrency communities to learn more about airdrop projects.
*Additional Notes:
Never share or disclose your private key/passphrase. These are the keys to access your wallet, and sharing them could lead to the loss of your entire asset.
Use a non-custodial wallet to have full control over your private key.
Avoid participating in airdrops with unclear conditions. If you don't fully understand the terms of an airdrop, you may face risks.
We hope this article helps you gain a better understanding of airdrop! Follow us for more