Cryptocurrency Airdrops: What are they and tips to maximize them

coins

wiredshut2

May 8, 2018

Money really does grow on trees

Everybody is making money in the cryptocurrency and blockchain industry. Whether you are a miner, a trader, you #HODL, program, consult, etc people are getting paid money. Lots of money. But there is another approach to making that sweet, sweet crypto that has nothing to do with the above list. It’s called an Airdrop, and basically it’s free money.

By normal standards, an airdrop is a simple act of dropping supplies, or troops, or equivalent via parachute from an aircraft. Think the Berlin airdrop, or the Apple Iphone airdrop feature used to troll people.

In the crypto world, an airdrop is the process of distributing tokens to a crypto wallet at no extra cost. Zero. Zilch. Freeeeeeee. Companies that are trying to reward loyal customers, generate awareness about a new cryptocurrency (e.g ICO) or build a database of information for marketing generally employ airdrops.

Airdrops also happen when there is a fork in a cryptocurrency. Think Ethereum (ETH) and Ethereum Classic (ETC), or Monero (XMR) and Monero Original (XMO) and Monero0 (ZMR) and Monero Classic (XMC) and MoneroV (XMV)……You get the point.

But we don’t care about any of that, right? What we want to know is how can we maximize the amount of airdrops received and make that phat phat crypto loot? You can check out this article for what airdrops are Cryptocurrency Airdrops, but in this piece we will see how to maximize the amount of airdrops you receive.

Open a Bitcointalk.org account

This may seem silly but Bitcointalk.org is one of the best resources for anything crypto related, Airdops included. Which makes this first step very important, since in many airdrops, they will request your Bitcointalk nickname to enter.

You will also find that 90% (clearly not scientific) of the airdrops are published here with some being exclusive for Bitcointalk members. It is highly recommended that you “work” your account and raise it to Jr. Member rank, although it is preferable to become a Member to obtain the maximum benefit.

**NEVER EVER GIVE OUT YOUR PRIVATE KEYS. PERIOD

Crypto Exchanges

Gotta register for ‘em all! Each exchange has a specific list of crypto markets they trade. No two exchanges will have the same list of crypto assets, which means if you want to take advantage of Airdrops you will have to be registered on many, many exchanges. Don’t limit yourself you the Big 5: Binance, OKEx, Huobi, Bitfinex, and Upbit. Start opening accounts on lesser-known exchanges like TradeOgre, Cryptobridge, EXMO, Cryptopia, Ethfinix, Etherdelta etc.

Social Media

In many airdrops there are demand tweets, retweets, follows, Facebook page likes, join Telegram groups and so on. If you are willing to hunt airdrops, it is indispensable you open a Twitter account, a Facebook account, an Ethereum wallet and an exclusive Telegram account for airdrops.

As mentioned in the intro companies are trying to make their product shine in the overcrowded cryptocurrency world. To do so they will employ all level of marketing including influencers, paid shills (McAfee – The glorious bastard), and company reps to mount fierce marketing campaigns. If you spend enough time on social media, you will find plenty of opportunities….And scams. Don’t forget to check Steemit and Medium as well.

Be selective

This may seem counterintuitive   as you want to cast a wide net when looking for airdrops, but you don’t want to pull up used tires either. This will save you time and research, and we all know time is money. If the form asks for too many requirements such as your address, that you have a million followers on Twitter or take a selfie, abort that mission. Obviously, discard those who ask for mandatory donations or keys and denounce them to the community immediately.

Bitcoin Prime (Not to be confused with Bitcoin Private) is a good example of a selective airdrop. Plenty of information provided on the thread, and steps to receive the airdrop like: Follow on Twitter, join Telegram group, basic form and which exchange the asset will be traded on. This is a good blog to checkout for airdrops.

Check dedicated Airdrop tracking websites

Because Airdrops are becoming big business, a few sites list airdrops with dates and token equivalency. We know and use Airdropalert, Airdropaddict, Airdroptracker, etc.

FLIP IT!

Rush to your exchange and flip that airdrop. You are not here to speculate on whether a coin has a future or not. You are here to maximize profits and make more BTC. Once you receive your airdrop, go to the exchange it is listed on and start finding the price you are comfortable selling at. Be heartless. This is free money.

If you fall asleep and do not sell at the right moment, the airdrop tokens will lose value and all this work would have been for nothing. Do not be surprised if the original token you were holding also crashes. Let us take the Zclassic and Bitcoin Private airdrop in February, a disaster of epic proportions.

ZCL Airdrop Crash

For starters, Bittrex stated that they would NOT support the Bitcoin Private fork due to issues with the Zclassic wallet – #Yuge Blow. One of the largest exchanges in crypto not being able to guarantee tokens doesn’t bode well for your airdrop. The Bitcoin private fork was originally announced on December 16th and absolutely tanked the price. This is a rare example where an airdrop done wrong can have a drastic effect on price.

Security and Scams

Airdrops are an effective technique to raise awareness about a new token or project, but it can also be used to phish for people’s data, credentials and private keys. Be on guard for scams and swindlers who will try at anything to get your crypto. Store your precious crypto on secure wallets – hardware of software.

And once again NEVER share your private keys with anyone. Not even your grandmother.

Conclusion

Airdrops are an excellent, and legitimate, way to make extra BTC. That’s what we’re here for right? To increase our Bitcoin stack. If you follow these basic steps, you will find that money does actually grow on trees. Until regulation comes into play you should be doing everything to increase BTC. You won’t regret it when Bitcoin hits $50,000 😉

Interested in other cool crypto posts….check out Mining Wars: Bitmain vs Dragonmint and The Price of Bitcoin vs Cost of Mining.

Follow us on twitter @cryptoiscomin

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