Airdrops

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What is an Airdrop?

An airdrop is a popular marketing strategy used by blockchain projects to distribute free tokens or coins among the crypto community. It’s a way to reward and incentivize engagement from the community.

Typically, the airdropped tokens or coins are distributed for free or in exchange for completing specific tasks such as following the project on social media, joining a Telegram group, or participating in a survey.

What is The Point of an Airdrop

The idea behind airdrops is to create awareness about the project, increase adoption, and attract new users to the platform. Airdrops have become a common way to introduce new cryptocurrencies to the market and create a buzz around them.

When blockchain projects distribute free tokens as airdrops, it attracts a large number of users who are interested in the project even those who have not been aware of it before.

When this happens, it helps to kickstart the adoption of a new cryptocurrency among investors and drive up its value in the market.

Types of Airdrops

There are two main types of airdrops to keep in mind:

Bounty Airdrops:

These involve completing simple tasks like following social media accounts, joining a Telegram group, or retweeting a post. Easy peasy, free tokens!

Unlike standard airdrops, which distribute tokens widely with little to no action required from the recipients, bounty airdrops require participants to engage in specific actions that help market the project.

Some of them include social media engagement, content creation, bug reporting, and other forms of contribution that benefit the visibility and development of the project on the long run.

Holder Airdrops:

Here, you get rewarded for holding a specific coin in your wallet during a snapshot (a moment in time when the project records token holders).

The tokens are evenly distributed to existing holders of a particular cryptocurrency and the amount of new tokens received often depends on the quantity of the original tokens held.

This method is used by blockchain projects to reward loyalty among their user base, ensuring that those who have invested in the cryptocurrency receive additional benefits while holding and participating in the ecosystem.

Basically, just hodl (hold on for dear life) and you might be surprised with free tokens!

Hard Fork Airdrops:

Hard fork airdrops occur when a blockchain undergoes a significant protocol change that results in two separate chains: the original and a new version. The new chain is an offshoot of the original, but with changes that make it incompatible with the old one. This split is called a “hard fork.”

When a hard fork happens, it is common for the new chain to distribute free tokens to existing holders of the original to ensure that the new chain has a familiar broad user base and to reward the original holders.

How do I participate in an Airdrop?

Participation usually involves holding a certain cryptocurrency, being part of a community, or completing specific tasks which can involve holding a specific cryptocurrency in your wallet, being an active community member, joining social media groups, or contributing to forums.

Some airdrops may require you to perform social media activities like sharing posts or tagging friends to interact on their socials with certain tags, keywords, or hashtags.

To view the specifics of each airdrop, click on the details of the intended airdrop you would like to find information on and head over to the official website.

There, you can be able to learn the terms and conditions, requirements, restrictions, and other information on the project.

How can I find Upcoming Airdrops?

Staying updated with crypto communities, web3 influencers, and blogs that publish updates on airdrops can help you discover new airdrops.

Crypto airdrops are often announced on various cryptocurrency forums and social media platforms such as Reddit, Twitter, Telegram, and Discord.

Spend a lot of time on these communities and forums. You should be able to discover new airdrops that you may not have heard of otherwise, which can help you accumulate more tokens and expand your cryptocurrency portfolio.

Additionally, being part of our community on Telegram will help you get up-to-date information in the crypto space and also get to ask your questions and join in on our AMA sessions for educational and informational purposes.

Popular Airdrops Website

To stay updated on the latest airdrops opportunities it is necessary for you to subscribe to popular and reliable website that constantly publish amazing airdrop opportunities.

Below are some of the best and most reliable websites you can subscribe to.

Dipprofit Airdrop Alert:

Dipprofit is a reputable website known for it’s experience in providing educating and informational articles in both trading and the cryptocurrency space. We also ensure to give amazing information and updates on the best and latest airdrop opportunities while also ensuring their security while participating in these airdrop programs. You can subscribe to Airdrop Alerts by clicking this Link or the button below.

Free airdrops:

Another notable website for airdrops update is the freeairdrops.io platform, you can either download their app from playstore or visit the website freeairdrop.io to start following the daily airdrops update on the platform.

Airdrops.io:

Airdrops.io is another website where you can easily get up to date airdrop opportunities. Like dipprofit, they have several airdrops category ranging from the free airdrops to the airdrop gotten through staking and so on.

Are Airdrops Profitable?

When it comes to airdrops, the chance of profitability is always 50% and this is because not all project are genuine. Some projects are just created by scammers to basically get users private information and make use of the information to exploit the users.

Therefore, when carrying out any airdrop tasks that involves user connecting their wallets or entering some sensitive informations like also connecting twitter accounts or even paying a required amount to stake tokens and qualify the user for bonus airdrops, the user must ensure one of the following:

That the platform offering the airdrop opportunity is a reputable platform by carrying out a detailed research. This is especially so if you are going to commit financially to the project.

The second security measure to carry out is to ensure that you don’t give out wallet addresses or connect wallet where you have other valuable crypto assets stored when participating in these airdrop opportunities. What you should do is to create burner wallets (new wallets) for these projects that have no assets in them. For projects that involves connecting social accounts like twitter, you can create a separate account for these airdrops.

In conclusion, yes airdrops are profitable, depending on the organization carrying out the projects and the utility of the project. As long as you take proper security measures and follow us here on dipprofit, you have nothing to lose, airdrops are mostly free and cost you nothing, so why not try right.

Popular Notable Airdrops

Uniswap (UNI): The largest crypto airdrop, Uniswap distributed $6.43 billion worth of $UNI on September 16, 2020.

• Apecoin (APE): Apecoin had the second-largest airdrop, distributing $3.54 billion worth of $APE on March 17, 2022.

• dYdX (DYDX): The third-largest airdrop, dYdX distributed $2.00 billion worth of $DYDX on September 8, 2021.

These three airdrops alone comprised 45.1% of the top 50 biggest crypto airdrops. The year 2021 saw the most activity with 18 out of the top 50 airdrops occurring, while 2022 and 2023 saw a decline in major airdrops, which can be attributed to the crypto winter bear market.