Ever dreamt of free crypto raining down from the sky? That’s what crypto airdrop is about.
Crypto projects often distribute free tokens to lucky individuals as part of their marketing strategy. This strategy results in a win-win situation for both parties; you get some freebie coins, and the project gains increased visibility and support from the community.
If you are new to the concept of crypto airdrop farming, don’t worry. This article covers everything you should know to successfully farm crypto airdrops.
What is Airdrop Farming in Crypto?
For an easy understanding of what crypto airdrop farming entails, let’s break it down and start with what crypto airdrop means.
As explained earlier, blockchain projects usually distribute free coins to a predefined audience in an effort to gain traction from the resulting engagement. It’s purely a marketing strategy. You can think of it as a way for these projects to say “thank you” to their community or to promote their tokens by creating a buzz.
The term “farming” comes into play when you actively seek and collect these airdropped tokens. Instead of simply waiting for tokens to land in your wallet, farming involves proactive participation in the qualifying tasks to maximize your airdrop gains.
Now to the important question: How can you make money with crypto airdrop farming?
How to Make Money From Airdrop Farming
There are numerous ways to make money from farming cryptocurrency airdrops, including:
- Selling: Once you’ve collected the free tokens placed in an exchange or marketplace, selling them is the simplest way to profit from cryptocurrency airdrops. However, there are some coins that may rise or fall based on supply and demand after some time. So, it’s important to do considerable investigation and analysis before selling them.
- Hodling: After analyzing the project doing the airdrop, if you believe the token has the potential to rise in value later, hodling for future appreciation might be a more profitable approach. However, this approach involves higher risk and uncertainty, as there’s also a chance the project won’t succeed or become obsolete in the marketplace.
- Staking: Depending on the projects, you might be able to lock the airdropped token in a smart contract or platform for a predetermined amount of time to be eligible for further rewards. Rewards for staking are typically given in additional tokens or other cryptocurrencies. Token holders who take part in staking programs can contribute to the project’s growth and security while also earning passive revenue.
- Referring: A few cryptocurrency projects additionally reward token owners who encourage more individuals to sign up for their community or platform with referral fees. Typically, referral benefits come in the form of additional tokens or other cryptocurrencies. This approach allows you to increase your income while promoting the project and increasing its level of awareness.
With that covered, here are some easy steps to get started with crypto airdrop farming.
Steps to Farming Crypto Airdrops
Step 1: Choose an Ideal Wallet
Before farming, you should have a place where you’ll store your harvest — a crypto wallet. Generally, I recommend you choose Metamask. The wallet supports both PC and mobile devices via a browser extension wallet and app, respectively. However, some projects might require a specific wallet to qualify for their airdrop, so take note.
Step 2: Find Potential Airdrops on Social Media or Airdrop Website
One of the easiest to find airdrops is to check airdrop websites. These are websites that share updates about the latest airdrops. Another tip for finding airdrop opportunities is to follow the official social media accounts of blockchain projects to get updated about future airdrops. Telegram and Twitter (now X) are popular channels for airdrop notifications.
Step 3: Take Part in Airdrop Initiatives
Most crypto airdrop campaigns usually include certain tasks participants are expected to fulfil to qualify for the giveaway. Some of these tasks may include joining Telegram groups, retweeting posts, following social media profiles, and referring friends.
By taking these steps, you show that you are interested in the project and raise the likelihood that you will get tokens through airdrop.
Step 4: Keep an Eye on Your Wallet
To ensure that the airdropped tokens have been credited, make sure to often check your wallet address on a blockchain explorer. This step allows you to monitor your airdrop earnings and make sure you don’t miss any distributions.
Step 5: Take Part in Exchanges of Tokens
Tokens that are airdropped might not be immediately useful or valuable. You must exchange these tokens for more well-known cryptocurrencies via decentralized exchanges (DEX) in order to leverage them.
Step 6: Look into Opportunities for Yield Farming
One way to optimize your profits is to engage in yield farming. Giving liquidity to DeFi platforms in return for incentives is known as yield farming. Examine and select DeFi projects based on your risk tolerance and investing objectives.
Step 7: Safeguard Your Resources
Put asset security first while you participate in various DeFi events and earn airdropped tokens. For long-term storage, use hardware wallets, enable two-factor authentication, and be wary of phishing efforts.
How to Farm Airdrops with Multiple Wallets
One crazy strategy that has become more popular nowadays in crypto airdrop farming is multi-account farming.
Just to be clear, multi-account farming is a form of a Sybil attack where an individual creates a large number of identities and uses them to gain an unfairly large influence.
Having more than one wallet can greatly boost the chances of getting additional airdrops. However, this strategy is rarely profitable because projects have devised strict measures to counter Sybil’s attacks.
Some multi-accounts are detected by projects through IP, cookie, and browser tracking and by looking out for activity and transfer-based clustering between accounts.
To avoid being disqualified, you need to avoid connections between your wallets. You can use crypto exchanges that provide multiple wallet addresses for funding. For example, OKX with its sub-accounts. Also, it’s good practice to ensure your wallet interactions are random and natural.
Best Websites for Crypto Airdrops
These websites are your go-to resources for current information when it comes to discovering the most recent cryptocurrency airdrop opportunities:
- AirdropAlert: It’s one of the well-known websites that specializes in listing cryptocurrency airdrops. This website makes it simple for anyone to participate by offering thorough information about each airdrop.
- CoinMarketCap: You may find current and planned airdrop campaigns in the “Airdrops” section of CoinMarketCap, in addition to its market statistics.
- Airdrops.io: This website, which lists Bitcoin airdrops, is easy to use. They send out information about impending airdrops, participation guidelines, and project details.
- ICO Drops: This website offers information about airdrop initiatives in addition to initial coin offerings. It’s a useful tool to be aware of.
- Airdrop King: is a platform that aggregates airdrops and provides a list of both current and planned airdrops. They frequently contain extra details like token distribution strategies.
- Crypto Forums: Users can discuss information on airdrops in areas of cryptocurrency forums like Bitcointalk and several Reddit subreddits. Even while these sources can be helpful, be cautious and make sure the airdrop opportunities are legitimate.
- Social media: On sites like Twitter, Telegram, and Discord, remember to follow Bitcoin projects and influencers. There are a lot of airdrop announcements issued via these platforms.
- Websites covering Cryptocurrency News: Reputable websites covering cryptocurrency news occasionally publish announcements and articles regarding airdrops. If you want factual information, stick to reliable sources.
Crypto Airdrop Scams and How to Avoid Them
Crypto airdrops can be a great way to discover new projects and get free money, but there is a risk that should be taken seriously: crypto airdrop scams.
Scams involving airdrops frequently pose as genuine cryptocurrency giveaways. They assert that they will give participants free tokens and make big airdrop payout promises. But, their goal is to take advantage of your enthusiasm and, occasionally, steal your cryptocurrency assets or personal information.
Here are a few typical warning signs to be aware of:
- Too Good To Be True: An airdrop offer that appears unduly lucrative or that offers enormous profits with little work should be taken seriously. This strategy is often employed by scammers to entice gullible victims.
- Phishing Links: Exercise caution while responding to airdrop campaigns that request that you click on dubious links or divulge private keys or wallet addresses. Airdrops that are legitimate won’t need this.
- Unreliable Sources: Airdrop announcements should only be believed by reliable sources and project websites. In order to mimic authentic enterprises, scammers frequently construct phoney websites and social media pages.
- Lack of Clarity: Reputable airdrops offer comprehensive information on the project, token distribution, and prerequisites. Avoid this information if you can’t discover it or if it seems ambiguous.
- Advance Payments: Avoid participating in airdrops that request cryptocurrency transfers or an advance payment. Airdrops that are legitimate don’t cost you anything.
How to avoid crypto airdrop scams? It’s rather simple. Do extensive research on the project, confirm the legitimacy of the airdrop, and rely on dependable sources of data. Whenever something feels strange, it probably is. Trust your gut.
Conclusion
Crypto airdrop farming is one of the ways you can make money from crypto for free. With the right information and careful planning, you can make a substantial amount doing it.
However, you should exercise caution as there are also fake crypto airdrop projects looking to take advantage of unsuspecting airdrop farmers.
