How to Make Money with Airdrops & Giveaways

The initial approach involves crypto airdrops, a practice commonly associated with newly introduced ventures that distribute complimentary crypto tokens to enhance their visibility within their intended market. 

Participation in a crypto airdrop typically requires users to fulfill simple tasks like following the project on social media or registering their wallet address on a whitelist.

How do Airdrops and Giveaways Function?

Another avenue resembling airdrops is crypto giveaways. These entail completing certain tasks to acquire tokens at no cost. Tasks may include following a project on Twitter or joining their Telegram group. To optimize your chances of winning, endeavor to complete all tasks for maximum entries.

For those seeking ways to earn cryptocurrency without investment, consider registering with faucet websites. Similarly, users can earn crypto tokens by completing simple tasks such as filling out captcha forms or engaging with newly released games.

Do note, however, that the size of the rewards offered by crypto faucets is usually minute. In fact, this is often just a few cents worth of Bitcoin, so the process isn’t really worthwhile. On the flip side, there is no requirement to deposit funds into the faucet website, so it’s a risk-free way of earning crypto nonetheless.

Top 3 Reasons Airdrops & Giveaways Prove Effective

Let's delve deeper into why airdrops are truly impactful with these three key reasons:

1. Promotion: Startup companies often utilize airdrops as a deliberate marketing strategy to increase visibility for their primary cryptocurrency. Essentially, it serves as an additional advertising avenue.
   
2. Value Boost: Airdrops offer a temporary boost to the value of the underlying cryptocurrency. By requiring participants to hold a certain amount of one coin to receive another for free, both parties benefit in the long run. After all, who doesn't appreciate complimentary assets?
   
3. Time Sensitivity: Typically, there's a specified period during which participants must hold the base cryptocurrency. Once the airdrop concludes, the obligation to hold the base currency ceases. Consequently, this dynamic creates a fluctuating scenario where the value of the base cryptocurrency experiences significant fluctuations post-airdrop. Hence, it's advisable to sell promptly after this period concludes.
   
PRO TIP: This phase also presents an opportune moment for shorting if you engage in margin trading.

While crypto airdrops offer an excellent means to disseminate new tokens and garner project interest, their success hinges on strategic management. Explore five noteworthy crypto airdrop success stories, complemented by ten practical tips for effective airdrop management.

Now, let’s explore top 10 crypto airdrops.

Top 10 Crypto Airdrops

As an individual navigating crypto airdrops, it's a blend of excitement and challenges. Here are ten strategies to streamline your management approach:

1. LayerZero: The LayerZero project is a cutting-edge blockchain interoperability protocol designed to enable seamless communication between different blockchain networks. 

2. StarkNet: StarkNet functions as an additional layer built on Ethereum, serving as a decentralised, permissionless validity rollup known as a “ZK rollup.” 

3. ZkSync: ZkSync is an additional initiative constructed within the Ethereum blockchain ecosystem. This layer-2 solution aims to enhance transaction speeds on Ethereum and lower gas fees through the implementation of zero-knowledge (zk) technology. 

4. Ambient: Ambient is a decentralised exchange (DEX) that enables the operation of two-sided Automated Market Makers (AMMs) within a unified smart contract. By utilising a single-contract framework, Ambient effectively minimises gas fees and transaction costs, offering users the convenience of managing their assets in one place without the need to transfer tokens across various pools.

5. Shardeum: Shardeum, a blockchain network based on the Ethereum Virtual Machine (EVM), will utilise this technology to create a network of Shard chains capable of processing transactions. User requests are distributed across the shards as the network handles them. Shardeum aims for a projected speed of up to 2,000 transactions per second and operates on the Proof-of-Stake and Proof-of-Quorum consensus mechanism.

6. Kamino: Kamino represents a pioneering DeFi protocol that integrates Lending, Liquidity, and Leverage functionalities into a unified and secure DeFi product suite. Initially designed to provide users with a straightforward method of supplying liquidity and generating yield on-chain, Kamino Finance is set to introduce its token “KMNO” and conduct an airdrop for early adopters.

7. Base: The base protocol operates as a Layer 2 blockchain layer constructed atop Ethereum and serves as the blockchain platform for the prominent cryptocurrency exchange, Coinbase.

8. Scroll: Scroll is a layer 2 blockchain designed for Ethereum developers, offering a swift, reliable, and scalable network where existing Ethereum applications can seamlessly migrate to Scroll at a reduced cost. 

9.  Tea: Tea is a decentralised technology protocol to improve the sustainability and trustworthiness of the software supply chain.

10. Mode Network: Mode is a modular Layer 2 solution built on Ethereum, working in collaboration with Optimism to establish an on-chain cooperative.

Watch out for scammers! Project administrators will never DM you first on Twitter, Discord, or Telegram to offer help. Never share your wallet’s secret phrase or enter it on a provided website.