What are Airdrops?
Crypto currencies such as Bitcoin or Ethereum have become commonly known over recent years, and there are more and more people wanting to get in on the action. So called ‘Airdrops’ are a way in which anyone can take up this outstanding opportunity!
One receives new Coins free of charge from Airdrops, by doing different tasks on social media. This includes, for example, “liking” a post, or “sharing” an article. An Airdrop will reward you, so to speak, for the fact that you are advertising a new project – a win-win situation for everyone involved.
But one thing you should be aware of beforehand: You don’t get rich overnight with Airdrops!
At first, some preparation is required to participate in an Airdrop. Secondly, it sometimes takes weeks or months to get the coins from an Airdrop. Airdrops are usually performed before the introduction of a new crypto currency. The Airdrops should generate attention for the project and present the corresponding coin to a broad mass. In this context one often hears of the Initial Coin Offering or ICO. The various ICOs usually run for several weeks or months. After completion it takes further time until the corresponding coins from the Airdrop are distributed, and then these can be traded on the different crypto exchanges.
As long as you are aware of the waiting times, you can prepare accordingly, so there is no reason not to take advantage of the opportunities that Airdrops provide. Especially since the value of some Airdrops can reach astronomical heights. The best example is the Ontology Airdrop, which was performed in early 2018. Participants received 1,000 ONT tokens for simply subscribing to the newsletter. The all-time high of the Ontology coin was $10.92, which corresponds to more than $10,000 for 1,000 ONT tokens !
How do you participate in Airdrops?
In the following steps we will take you through all the preparations you should make, if you want to participate in an Airdrop. As already mentioned, these preparations take some time. Then the different Airdrops can be claimed with a few clicks.
Create ETH adress (ERC20)
An ETH wallet address is almost essential if you want to participate in an Airdrop. This address is needed for more than 90% of all Airdrops. An ETH address can be simplified as your personal account number to which the coins are transferred after an Airdrop.
MyEtherWallet is in our opinion currently the best provider to create an ETH address or wallet. The process is very simple:
- Open MyEtherWallet web page
- Click on “Create new Wallet“
Create a new wallet
In our experience, method 2 has proven to be the most effective: “By Keystore File”. Here you open your wallet with a password + keystore file.
- Click on “By Keystore File” and create password. Then click on “Next“.
The password should not be forgotten (❗️), as there is no way to recover it.
- Download Keystore File
Download Keystore File
The Keystore File should not be lost or shared with anyone! It is best to create different backups of this file, because this file is the only access to the wallet.
- Click on “Access My Wallet“
The personal wallet or ETH address (ERC20) is now created. This can be operated as follows:
- Click on “Software“
Access your new wallet
- Click on “Keystore File” + click on “Continue“.
- Upload the previously downloaded file (see point 4)
- Enter password
You now have access to your wallet. At the top left you will find your personal ETH address. This is the address you have to enter when you are asked for an ETH address or ERC20 address at an Airdrop.
Tip: You don’t have to log into your account to view your coins. You can simply use the website Etherscan. If you enter your ETH address in the search field, the current account balance will appear.
Note: ETH = ERC20
The ETH address is often referred to as the ERC20 address. ERC20 is a standard provided by the Ethereum platform to create new coins. The ERC20 Coins are compatible with the MEW Wallet. Therefore they can be managed without any problems with the MEW Wallet.
Create a new email address
If you want to participate in Crypto Airdrops, you should first create a new email address. You will receive a lot of emails, which could quickly swamp your private email account.
In our experience, Gmail, the email provider of Google, is the best choice, as Gmail offers users webmail access that can be accessed quickly from all devices, anywhere.
Create Telegram Account
Telegram is the most important app if you want to participate in the different Airdrops.
Telegram is a messaging platform that focuses on security & encryption of communication. Telegram also allows users to quickly and easily create groups and channels on various topics. Meanwhile almost every blockchain project is represented on Telegram and there are numerous Telegram channels on which the newest Airdrops are listed.
If you participate in an Airdrop, you are often asked for your Telegram name. This usually looks like this: @JanShanti
Sometimes it happens that you are asked for your link to your username. It looks like this: https://t.me/janshanti
Tip: With Telegram there is the possibility to add members to channels or groups without their consent. In our experience, this function should be deactivated, otherwise you will quickly lose track:
- Click on the three horizontal lines in the top left corner
- Click on “Settings”
- Click on “Privacy and Security”
- Click on “Groups”
- Select “My contacts”
- Click on “Save”
The tasks at a Crypto Airdrop often include liking a Facebook page or sharing a specific article. For confirmation you usually have to provide the link to your Facebook account.
A Facebook profile link looks like this: https://www.facebook.com/myusername
You can find your Facebook link like this:
- Access your own profile
- Click on “More” below the profile picture
- Click on “Copy link to Profile”
At numerous Airdrops you will be asked for your Twitter name. It usually looks like this: @JanShanti
From time to time you maybe asked for a link to your username. It looks like this: https://twitter.com/janshanti
Once you have made these preparations, you are ready to participate in a variety of Crypto Airdrops. Sometimes the following additional accounts are needed to participate in further Airdrops: Reddit, LinkedIn, YouTube, Instagram, Bitcointalk, Medium, Discord
Beginner’s Guide to Airdrops: Summary
As the explanations show, a lot of preparation and organization is needed if you want to participate in Airdrops.
However, once the preparations are finished you can quickly and easily participate in new Airdrops – and as the Ontology Airdrops example shows, these can be more than rewarding!
Therefore, Crypto Airdrops are an excellent opportunity if you want to earn money on the Internet or if you want to build your own Crypto Portfolio.
|COINSBIT (CNG)||30,000 CNG ~ $300?||Medium||Step-by-Step Guide|
|cUSD CURRENCY (CUSD)||10 CUSD ~ $10||Easy||Step-by-Step Guide|
|MULTIPLYCOIN (MYC)||100 MYC ~ $30||Easy||Step-by-Step Guide|