What Is A Cryptocurrency Airdrop?

Crypto airdrops are free giveaways where projects distribute tokens to certain users. An airdrop essentially sends free money to user wallets while in return, the project gets lots of marketing and awareness. To be eligible for an airdrop, the user has to perform certain actions such as using a Dapp early. Others encourage users to perform small promotional tasks such as following their social media.

The largest crypto airdrops have distributed millions of dollars to their users. UNI and ENS delivered over $10,000 worth of tokens for users who traded on their platforms in the past. These airdrops were unannounced and caught users by surprise.

Advantages of Crypto Airdrops

1. Get free crypto tokens. Can be worth $10K+ sometimes
2. Can be sold on CEXs and DEXs
3. Rewards early users of a project
4. Little work required
5. Multipliers for meeting certain eligibility criteria

Disadvantages of Crypto Airdrops

1. You’re not guaranteed to get every drop
2. Most airdrops aren’t worth much
3. Tons of scams and risks of wallet-draining if you connect to malicious websites
4. Downward pressure on token price
5. Claim restrictions (eg. only claimable in 3 months)

Types of Crypto Airdrops

1. Retroactive Airdrops
2. Holder Airdrops
3. Bounty Airdrops

1. Retroactive Airdrops

A retroactive airdrop is when a project distributes its native token to early protocol users. To enter, you need to find tokenless projects that are rumored to airdrop in the future. Then, interact with the protocol which could include using DEXs, minting NFTs, or trying other dapps.

For example, anyone who traded at least $1 on dYdX, a decentralized exchange, prior to the launch of their token, qualified for a $4,300 airdrop. Users with more trading volume earned over $100k! Other popular airdrops include Arbitrum ($1k-$20k) and Optimism ($1k-$30k).

These are the most profitable airdrops however, they are also uncertain since you don’t know what the qualifications will be or when the airdrop will take place. Check out my airdrop checklist if you want the easiest way to hunt these airdrops.

Past Examples:

1. Uniswap airdropped $10,000 in UNI tokens to users that traded on their DEX before the UNI token launched. In total, they gave out around $350 million worth of tokens!
2. Ethereum Name Service gave away ENS tokens to users who registered Ethereum NFT domains. Many claimed up to $20,000 or more in this airdrop. The more domains registered, the higher the value of their airdrop.
3. Optimism distributed up to $50,000 in OP tokens for users who traded on their L2 scaling solution.

2. Holder Airdrops

In a holder airdrop, cryptocurrency or NFTs are distributed to investors based on something they own in their wallet. Since wallet balances are on a public ledger, developers can set up airdrops according to certain criteria. Blockchain projects will use holder airdrops to gain awareness or reward their existing community with free NFTs or tokens.

These airdrops can be worth thousands of dollars as well. However, they are harder to chase and typically require more investment because you have to hold quality projects. Most of them are unannounced and come down to pure luck, but you can find opportunities by studying the project roadmap, team, and other criteria.

Past Examples:

1. Yuga Labs airdropped 10,000 Apecoins (valued $270,000 at the time) to any crypto wallet that held a BAYC NFT.
2. Stellar Lumens (XLM) airdropped 3 billion XLM to Bitcoin wallet holders in 2016.
3. Blockchain projects will often airdrop NFTs or Tokens to famous celebrity wallets as a marketing stunt. For example, Vitalik (ethereum co-founder) was given 50% of Shiba Inu’s supply worth $6.7 billion (!!)

3. Bounty Airdrops

Bounty airdrops (aka exclusive airdrops) are based on completing tasks, usually related to promoting the project, such as following their Twitter account, joining their Discord group, or engaging with their social media accounts in exchange for rewards. Bounty airdrops can be done in a few minutes. To claim it, you typically need to fill out a form and provide your wallet address.

With Bounty airdrops, the project usually partners with a third-party site to offer free tokens to its audience. For example, CoinMarketCap has offered more than 400 bounty airdrops through its partnerships.

While these are very easy to enter, the reward is usually very small like $10. Plus, a lot of them are limited and done as a raffle, so you’re not even guaranteed to win.

12 Best Sites to Find Crypto Airdrops

Now that you know the different types of airdrops, let’s see how you can use them to find the latest opportunities.

1. Airdrops.io

1. Website: Airdrops.io

Airdrops.io is the largest and most-detailed airdrop website, featuring information about all ongoing, future, and potential airdrops.

On the Airdrops homepage, users can locate the latest verified airdrops, including finding information about historic airdrops that are available for claiming. If the airdrop is ongoing or finished, they will list the USD value of the airdrop.

I recommend using their “Hot Airdrops” and “Potential Airdrops” section, which lists tokenless protocols that might distribute an airdrop. There’s no simple way to compare airdrops and see which ones have the most potential, but you can find tons of projects and each one has a short guide to help you qualify.

They also have guides on the most speculated airdrops like MetaMask and zkSync which could potentially be the next five-figure drop.

2. RankFi’s Airdrop Checklist

1. Website: RankFi.com/airdrop-checklist/

If you want the easiest way to start farming airdrops, the Airdrop Checklist organizes all the research and tasks you need in one place.

With hundreds of potential airdrops, you want to cut through the noise and focus on the best opportunities. That’s why I made the Airdrop Checklist to help you research and enter the projects that will pay the highest rewards.

It compares the top tokenless projects based on funds raised, airdrop likelihood, total cost, and more. It also gives step-by-step tasks for every airdrop to help you start farming immediately. Everything is based on studying dozens of case studies from past airdrops to help maximize rewards.

So far, the Airdrop Checklist has predicted over 10 airdrops, including Starknet, Dymension, ZetaChain, and many others. It’s the ultimate resource if you want to start hunting airdrops as quickly as possible.

3. EarnDrop

1. Website: EarnDrop.io

EarnDrop is an airdrop tracker that will notify you when your wallet is eligible for an airdrop. The free plan lets you track up to 8 wallet addresses which is perfect for airdrop farmers.

The paid plans, for serious airdrop farmers, lets you track more wallets, get curated airdrop lists, and access to discord channels.

If you’ve been in the crypto space for a while and interacting with different protocols, you might be eligible for airdrops you don’t even know about. In fact, there are millions of dollars of unclaimed crypto right this second. EarnDrop helps make sure you don’t miss out on these rewards.

4. Bankless Claimables

1. Website: Bankless.com/claimables

Bankless Claimables (previously Earni.Fi) is another airdrop tracker helping you find unclaimed airdrops. Simply paste your public wallet address and they will show you any unclaimed airdrops that you might have missed. Bankless also owns “Airdrop Hunter,” a subscription service that helps you hunt potential airdrops through step-by-step guides.

5. YouTube Channels

Go to YouTube and use different searches and search filters to find potential airdrop opportunities. Search filters you can use include “Best crypto airdrops” and “crypto airdrop” > filter by published in last 30 days. Here are some good airdrop channels and playlists that I’ve subscribed to:

• @RankFi (my airdrop playlist)
• @CoinGeckoTV
• @DEDOTFI"">@DeDotFi
• @VirtualBacon
• @BoxMining

6. Crypto Twitter

Just like YouTube, Twitter has fantastic crypto airdrop guides and detailed threads. Just keep in mind, Twitter also has tons of airdrop scams so make sure to follow reputable creators and be careful when clicking links from people you don’t know. Here are some Twitter creators with great airdrop content:

• @Leshka_ETH
• @MingoAirdrop
• @0xFastLife
• @Airdrop_Adv

7. DappRadar

1. Website: Dappradar.com/hub/airdrops

DappRadar is an aggregator that lists the most important dapps. Users can locate the top Play-to-Earn games, NFTs, Metaverse platforms, and other trending crypto projects across blockchains.

Additionally, users can participate in airdrops in just 1 or 2 clicks after connecting their wallet. Their airdrop section has had many top-tier projects such as The Sandbox, Gods Unchained, Matic and many others. However, similar to CoinMarketCap, users are not guaranteed to win. Typically, it’s limited to 100 participants per award.

You can check it weekly or monthly for new listings.

8. CoinMarketCap

1. Website: CoinMarketCap.com/airdrop/

Since it started, CoinMarketCap has had over 425 airdrops that anyone with a free CoinMarketCap account and crypto walllet could have entered. It takes seconds to enter and the coins are vetted and reviewed by their team.

The majority of airdrops on CMC are task-based and take seconds to enter. You will need to add the project to your watchlist, follow their CMC account, and do similar tasks. However, I’ve found you can just click the boxes and still participate without doing all the work (don’t tell anyone).

On the downside, the airdrops are raffle-based so you are not guaranteed to win. For most of them, hundreds of thousands of people participate. You can check CMC every month for new drops, but recently there hasn’t been any activity.

9. Airdrop Alert

1. Website: AirdropAlert.com

AirdropsAlert is an airdrop aggregator that covers different categories of airdrops including NFT airdrops, DeFi airdrops, Metaverse airdrops, and more.

The service has 400,000 investors on their newsletter that sends weekly information about the most promising airdrops.

The homepage gives access to hundreds of airdrops which can be accessed immediately. The downside is that anyone can submit their airdrop to the website which means users have to be very careful when connecting their wallet to coins listed here.

10. AltcoinTrading

1. Website: AltcoinTrading.net/airdrops

AltcoinTrading aggregates the most promising and long-awaited airdrops in the industry. The teams managing the platform vet thousands of potential airdrops and filter them down to only a few dozen that users should pay attention to.

The main advantage of the website is daily social media alerts using apps like Telegram. Users can join their channels and receive daily updates about new airdrops, closing airdrops, and more.

The platform has designated safety guidelines that explain how users can stay away from airdrop scams and protect their wallets.

11. ICO Marks

1. Website: ICOmarks.com/airdrops

ICOMarks is a dual Initial Coin Offer and Airdrop aggregator that promotes valuable projects in the crypto sphere and allows investors to get in at the early stages.

In the airdrop section, they list airdrops with a drop schedule and include task requirements – allowing airdrop hunters to get the job done in half the time.

ICOMarks is also the only airdrop aggregator that estimates the approximate value of the airdrop before it occurs, with most airdrops ranging between $50-100 in value.

Users can also navigate based on the category and choose airdrops from categories they have experience in.

12. AirdropBob

1. Website: AirdropBob.com

AirdropBob is a small airdrop aggregator that specializes in airdrop calendars and provides key information about the most important airdrops in the industry.

The main advantage of AirdropBob is that they include exchange airdrops on their list by analyzing all exchanges and current campaigns.

The airdrop calendar tells people exactly when an airdrop starts and ends and the homepage lists the hottest trending airdrops in the industry.

Tips To Stay Safe With Airdrops

Crypto airdrops carry risks and a user has to apply due diligence to avoid falling for a scam. Use the following precautions to stay safe with airdrops:

1. Only Connect Your Wallet To Trusted Sites. Avoid connecting your wallet unless you’ve double checked the URL, vetted the social media, and trust the website. There are many phishing sites and this is akin to giving permission to drain your wallet.
2. Use A Burner Wallet. A burner wallet is a secondary wallet that you can afford to lose and is separate from your main assets. It’s useful if you want to enter lots of airdrops, NFT giveaways, or earn free crypto strategies.
3. Never Give Away Your Seed Phrase. No legitimate airdrop is going to ask for your seed phrase or ask you to share private details about your wallet.
4. Don’t Send Anyone Money. Airdrops are free to claim and users don’t need to send an upfront payment to receive their tokens.

Learn The Airdrop Game

If you’re serious about airdrop farming, check out my Airdrop Playbook and Multi-Wallet Guide to learn the airdrop game in-depth. I unpack all the strategies and tactics to successfully hunt airdrops.

For all my airdrop guides and research, check out my Free Airdrop Checklist here.

Disclaimer：

1. This article is reprinted from [RankFi], All copyrights belong to the original author [RankFi]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.