This is a guest post submitted on CryptoTapas by BitcoinZ.News
Airdrops are still around in the cryptosphere. Most airdrops are just a waste of time, however, some could turn out to be substantial.
For example, if you were one of those who subscribed for Ontology (ONT) airdrop, it could have been worth $11,000 during its peak. Even today, it is worth $1500. Not bad for free airdrop.
As it becomes difficult to raise money through ICOs or IEOs, more and more projects are choosing airdrops as a way to get traction for their projects.
What are airdrops?
Companies may decide to give free tokens to everyone who commits to an action. The action could be as simple as subscribing to your email, or tweeting or posting a comment on an article, or any number of things.
Sometimes, you could get free tokens just for holding some other tokens. If you hold your bitcoin or ethereum in wallets (not exchanges), you could receive free tokens based on a pre-set ratio. For instance, NEO holders received .2 ONT for each NEO held in their wallet.
It’s called airdrop because once the condition is met (holding a certain tokens or subscribing, etc.) you don’t have to do anything to get the tokens, they are automatically dropped into your wallet.
How do companies benefit from airdrop?
Let’s say, you mint 10 Billion in tokens.
These tokens are worthless unless people start using them. Instead of waiting for someone to come to you for your tokens, you give them out for free for them to be used on your platform. This is similar to free sample that traditional companies give out.
Let’s say, you give out 1 billion tokens for free, via airdrops.
And let’s assume, your project is viable and starts gaining traction.
Now, let’s assume each of your tokens is worth 1 cent, because your project has garnered interest in the community.
The value of the tokens you have given away is $10 Million (1,000,000,000 * .01), however, that value was derived because community involvement. Without the free tokens there was a possibility that your project was never going to see the light of the day.
Here is the kicker. The 9 billion tokens that you kept in your own wallets is now worth $90 million dollars.
The community that backed the project by circulating the free tokens and bringing its utility to light gains $10 million as well. Let’s say, you were one of the individuals who got 100,000 of these free tokens, it is now worth $1000, from just one airdrop.
Not all airdrops are worth it
Some airdrops could be worth nothing, some range from $10 to $100.
Higher value airdrops get to run out quickly if you are not in the know. And, keeping track of airdrops is a herculean task.
That’s why we have put together some handy resources for airdrops. Bookmark this page and visit at least once a week to see what hot airdrops could be out there. You never know, your 10 minutes could land you on the next ONT. Worse case scenario would be, you will learn about the new projects that are taking shape in the space. So it is not totally a waste of time.
Granddaddy of all resources, bitcointalk continues to be the best place to start looking for free airdrops. This is the place where you will find all the projects mentioning about their up coming or presently running Airdrops and Bounties, so that you can keep track of the projects and make the most out of it.
Below is a sample link to one of their airdrops.
This place is quite similar and well researched on airdrop announcements from various projects and the current status of give away, whether it’s still active or not. And the best part is that, the website shows the rules that needs to be followed to be eligible for the airdrop.Below are the other 3 top airdrop channels which are similar to cryptocreed and they provide the airdrops information from all projects. One can always subscribe to them to get notified when a new project is offering and airdrop.
One of the other website to find the latest airdrop updates is Airdrop Alert. It’s really to surf through various airdrops listed and choose which you would like to opt for.
Not all airdrops are worth wasting your time, so choose wisely.
4. Airdrop Hot List – Telegram
Air drop hot list happens to be the biggest community on Telegram.
Telegram Url: https://t.me/Airdrops_Hot_List
Another way to keep track of airdrops is by twitter and Crypto Airdrops provides all the updates.
Airdrops.io is part of this twitter page.
Airdrops are great, but you need to be cautious of some scammers and hackers. We suggest you do these while you Submit/Apply the details:
- Always make sure the airdrops or bounties with their respective official websites or community channels, such as twitter, telegram or reddit.
- Never and ever give away your private keys or seed phrases of your wallets
- When they don’t seem reliable or if their project seems shaby, just exit.
NOTE: We will be updating this article with new resources as and when we find them, so make sure to bookmark this page. If you have good recommendations, let us know in the comments.
Make sure that you have good anti-virus in general to keep trojans and trackers out of the way. We personally use Panda, it is light and doesn’t seem to affect the system performance. Since it is on the cloud, it gets updated with latest malware protection automatically.
Using a browser like Brave browser is also a good option, in our view, when dealing with all sorts of websites as it comes with inherent tracker disabling features.
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About the author
RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.
RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says “what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.” Of course, that is just his opinion.