Published
Time to read
5 minutes
EN
Token Airdrops Beginner Guide
This in-depth guide explains the intricacies of token airdrops so you can get free tokens from DeFi projects
Airdrops are a common way for crypto projects to grow in popularity and reward dedicated users and supporters. A crypto drop disburses the project's tokens to users who meet certain eligibility conditions.
These eligibility requirements vary and can be based on social engagement, transactions made, or longevity of interaction with the platform.
The best airdrops come from bridges, ZK rollups, DeFis and other projects built on Layer-1 ecosystems. Researching new protocols within popular emerging blockchains is a good way to net valuable tokens for free.
What are Airdrops?
Airdrops have become more frequent in the crypto space. These token giveaways contribute massively to the growth of the cryptocurrency ecosystem by attracting new users and investors.
A token drop involves disbursing tokens for free to those who qualify to receive them. In most cases, the qualified participants are early adopters of a project. Sometimes, the project rewards them for helping to spread the word on social media. An airdrop can also be given as a reward to holders of another token.
Many new decentralized application (dapp), decentralized finance (DeFi), metaverse and NFT protocols implement some form of airdrop as a way to get the ball rolling and quickly become relevant. The distributed tokens are used for a variety of narrow functions such as governance, utility and anti-manipulation by whales.
The right airdrop can provide a lucrative opportunity for recipients. In recent times, a few projects have distributed airdrops worth thousands of dollars in value. Rarely, these come out of the blue; often, they're highly anticipated and competitive drops. In airdrops, as with general token trading, getting in early is the name of the game.
Many DeFi protocols have gone on to distribute airdrops for their earliest community members. Many people who traded on these platforms at the beginning have gotten rich from token drops.
As a result, the spotlight has turned to popular and thriving protocols currently without a token. Swapping, staking and other DeFi activity on these platforms has spiked in anticipation of retrospective token airdrops. Following the example of Ethereum Name Service (ENS) , retrospective drops have become the favored medium by tokenless protocols.
But what's the best way to qualify for big token airdrops? There are a number of good strategies to employ and get eligible for drops potentially worth thousands of dollars with little to no upfront investment.
How to Find Good Airdrops
There is a crypto airdrop every single day but most of them are crap. The airdrop mechanism has been hijacked by all sorts of low-quality and bogus projects as a shortcut to gaining followers. Therefore, to find the real quality airdrops out there, you can use the following strategies,
1. Research Potential Airdrops
Scouting for legitimate airdrops will naturally increase your chances of nabbing at least one. The best source of potential drops are popular protocols that haven't issued a token yet. This doesn't mean they will definitely have a token in the future but the potential is there.
One quickfire way to find notable projects is to check individual protocol TVL on popular blockchains like Ethereum, Binance Smart Chain, Solana, Terra, Cardano and Avalanche. Target projects with considerable locked liquidity that don't have a token. Look for news and rumors that suggest a token is in the pipeline.
Social media and dedicated crypto websites are a great source of ongoing and rumored airdrops linked to quality projects. Important crypto sites like CoinMarketCap and DappRadar often partner with projects to host airdrop events. You can also follow respected accounts on Twitter, YouTube and other social media platforms to learn about rumored airdrops.
Several popular crypto platforms are expected to launch their own tokens and distribute airdrops to users in 2022. The most promising are Layer-2 solutions on Ethereum like Optimism, Arbitrum, Zapper and ZkSync, NFT marketplaces like OpenSea, Foundation and Valuables, cross-chain bridges like Hop Protocol, and decentralized exchanges like Cowswap and Clipper.
2. Get Involved in New Crypto Projects
There was a time when new crypto projects were happy to airdrop tokens to whoever showed interest, liked and shared their social media posts, or made token transactions. Now with the rapid rise of users in crypto, this is less likely to be enough to secure the most lucrative airdrops.
An effective way to position yourself for airdrops is to interact with new and promising tokenless protocols. New projects regularly launch on popular blockchains like Ethereum, Fantom, Solana, Cardano and Near. Interacting with these before they go mainstream and get more attention is a great way to become eligible should the protocol deploy a token drop later on.
Connect your wallet to the project and interact with it as much as possible. If it's a DeFi project, you could use its swap function, add liquidity to its pools, or use its farm offerings. You should immerse yourself in its various features as much as possible to increase your chances.
3. Increase Your Activity
The rise of retrospective airdrops has also led to an increase in sybil attacks — a phenomenon where people try to secure airdrops by carrying out small one-time transactions from multiple wallets.
Hence, simply being an early user and interacting with the platform once or twice is no longer enough in a majority of cases. Airdrop eligibility conditions are now stricter across the board.
Gone are the days where users easily got thousands of dollars from ENS, dydx and Uniswap token drops.
A good example is ParaSwap's recent airdrop. It went to users who had used the platform to transact at least 5 times. CowSwap, meanwhile, announced that only users who'd made an aggregate trading volume of at least $1000 across at least 3 trades will be eligible for their upcoming token drop.
4. Give the NFT Space a Look
Holding the right NFT can make you eligible for free airdrops. Holders of popular NFTs like Bored Ape Yacht Club have enjoyed several drops in the past and will get more in the future.
Get active in the NFT space and focus on projects with big and active communities. It's one of the best ways to land airdrops which can be either new tokens or new NFTs (or both).
Since the goal of pursuing airdrops is to earn money, you can also look at NFTs that have lots of benefits attached to holding them. For example, you can get up to 55% APY simply by holding these NFTs for a set duration.
5. Staking & Farming
Staking and farming tokens are a nice way to earn free tokens without stress. Certain decentralized protocols reward users with token drops for staking, farming or liquidity mining.
Some layer-1 networks (e.g. Cosmos) implement stakedrops, airdrops rewarded to those who stake the blockchain cryptocurrency (e.g., ATOM) on the network.
6. How to Find Good Airdrops
The beauty of airdrops is that no two are alike in all respects. There are lots of other ways to get lucrative drops other than those mentioned above.
A project could just randomly decide to airdrop its tokens to users of a cryptocurrency exchange who also hold the exchange's utility token like BNB, KRRX or KCS. This usually happens as part of a deal to list on that exchange. Here, the user happens to be in the right place at the right time.
Some projects implement an airdrop on an FCFS (First Come First Serve) basis. A date and time is given and people try to claim before the allotted items run out. An example is the recent Pepsi Mic Drop NFT release.
Parting Tips
All in all, it's worth striving for a rumored airdrop when it's sure to be very lucrative. Your target should be popular and successful layer-2 protocols on major networks like Ethereum. The emerging GameFi and metaverse spaces also offer rich potentials for rumored airdrops.
It's worth keeping in mind that some airdrops won't be worth the hassle to obtain them. The vast majority of drops aren't worth the bandwidth used to obtain them. That's why it's important to stick to safe airdrops promoted by legitimate sources.
With airdrops, timing is key. Depending on the type of tokens, you can either decide to sell off at the height of hype or hold in expectation of more pumps in the future.
Related articles
Big Trading Opportunities with Kyrrex: How to Maximize Your Profits in Cryptocurrency Trading
The cryptocurrency market is a rapidly evolving landscape that offers big opportunities for profit. However, navigating this market can be challenging, particularly for those who are new to the space. In this article, we will explore how you can maximize your profitability in cryptocurrency trading by taking advantage of Kyrrex's wide range of trading opportunities.
The Relationship Between Open Crypto Trades and Profitability
Open trades are trades that have not yet been closed. These trades can have a significant impact on profitability, as they represent potential gains or losses. In general, having more open trades can increase profitability, as long as they are managed effectively.
One way to manage open trades is to use stop-loss orders. A stop-loss order is an order that automatically closes a trade when a certain price is reached. By using stop-loss orders, traders can limit their losses and protect their profits.
For example, if a trader buys a coin at $10,000 and sets a stop-loss order at $9,500, the trade will automatically close if the price falls to $9,500. This can help the trader get out of a bad trade before their loss becomes bigger.
Another way to manage open trades is to stay up-to-date with market trends. By staying informed on market trends and using technical analysis, traders can identify potential trading opportunities early and make informed trading decisions.
For example, if a trader notices that the price of a particular cryptocurrency is trending upwards, they may decide to open a long position (i.e. buy the cryptocurrency) with the expectation that the price will continue to rise.
However, it is important to remember that open trades are never risk-free. If the market moves against the trader, they may end up losing money on the trade. To minimize this risk, it is important to use appropriate risk management strategies, such as setting stop-loss orders and diversifying your portfolio. Stop-loss on a winning trade locks in your profits while a diversified portfolio helps to spread risk around.
The Importance of Trading a Wide Range of Cryptocurrencies
Trading several cryptocurrencies, instead of just one or a few, is essential for maximizing profitability. By limiting yourself to a small number of cryptocurrencies, you are potentially missing out on gains that could be made by trading in other coins. Additionally, trading more cryptocurrencies can help to minimize risk, as losses in one coin can be offset by gains in another.
Here are some benefits of a diverse cryptocurrency portfolio:
- Increased exposure to potential gains: By trading in a diverse range of cryptocurrencies, traders can increase their exposure to potential gains in the market.
- Minimized risk: By trading in a diverse range of cryptocurrencies, traders can minimize their risk by offsetting losses in one coin with gains in another.
- More opportunities for profit: Traders can open more orders in more cryptocurrency pairs, which increases the potential for profits.
Wide Crypto Trading Opportunities with Kyrrex
Kyrrex is a leading crypto-fiat platform that offers comprehensive services for individuals and institutional clients alike. With its advanced trading, storage, and payment technologies, Kyrrex is designed to meet the needs of modern cryptocurrency enthusiasts.
One of the main advantages of Kyrrex is its wide range of trading opportunities. Users can access the built-in trading terminal, which allows for seamless transactions in cryptocurrency pairs. Currently, Kyrrex offers a total of 20 currency pairs, including popular options such as AVAX/USDT, ETH/USDT, and XRP/BTC. By offering a diverse range of currency pairs, Kyrrex enables users to trade in a way that best suits their needs and preferences.
The Kyrrex trading platform boasts flexible functionality. Users can easily analyze and track quotes around the clock, select limit and market orders, and enjoy reduced trading commissions. These features make it easy for users to make more trades and analyze market trends, thereby increasing the chances for gains.
In addition to its trading capabilities, Kyrrex offers a comprehensive set of features to help users manage their cryptocurrency assets. With its state-of-the-art storage technologies, Kyrrex ensures the safety and security of user funds. Users can also take advantage of the platform's advanced payment technologies, which enable them to make and receive payments in a variety of currencies.
Conclusion
Maximizing profitability in cryptocurrency trading requires a combination of trading in a wide range of cryptocurrencies and effectively managing open trades. Kyrrex's wide range of trading opportunities, advanced trading tools, low trading fees, and real-time market data make it an ideal platform for those looking to engage with the cryptocurrency market.
5min reads
BTCUSDT: Analyzing Bitcoin's Performance on TradingView
Bitcoin (BTC) has emerged as one of the most popular cryptocurrencies in the world, and its value has skyrocketed in recent years. As a result, traders and investors have become increasingly interested in BTCUSDT trading on platforms like TradingView.
TradingView is a popular charting platform that allows users to analyze and trade financial markets. With BTCUSDT trading, traders can track the performance of Bitcoin against Tether (USDT), a stablecoin that is pegged to the US dollar. This pairing is commonly used on crypto exchanges, and TradingView provides comprehensive BTCUSDT charts and indicators for traders to make informed decisions.
BTCUSDT Price Action
BTCUSDT's price action has been volatile, with sharp price swings and fluctuations. However, the overall trend for BTC has been bullish, with the cryptocurrency hitting all-time highs in recent years. TradingView's BTCUSDT charts provide traders with the ability to track BTC's price movements in real-time, as well as view historical price data.
Technical Analysis on BTCUSDT TradingView
Technical analysis is a popular method for traders to analyze financial markets, and BTCUSDT trading is no exception. TradingView provides a wide range of technical indicators and charting tools to help traders analyze BTC's performance.
One popular indicator used in BTCUSDT trading is the Moving Average Convergence Divergence (MACD) indicator. This indicator can help traders identify trend reversals, as well as potential entry and exit points. Additionally, traders can use other technical indicators like Relative Strength Index (RSI), Bollinger Bands, and Fibonacci retracement levels to gain further insight into BTC's price action.
Fundamental Analysis on BTCUSDT TradingView
In addition to technical analysis, fundamental analysis is also important in BTCUSDT trading. Fundamental analysis involves analyzing the underlying factors that affect BTC's price, such as adoption rates, regulatory changes, and economic events.
TradingView provides traders with access to news feeds and economic calendars, which can help traders stay up-to-date on the latest developments that may affect BTC's price. Additionally, traders can use TradingView's social networking features to discuss and share information with other traders and investors.
Final Thoughts
BTCUSDT trading on TradingView offers traders a comprehensive set of tools and indicators to analyze Bitcoin's performance. With both technical and fundamental analysis options available, traders can make informed decisions about when to enter and exit the market. However, as with any financial market, BTCUSDT trading carries risks and traders should exercise caution and conduct their own research before making any investment decisions.
5min reads
Top 5 Crypto Charities
There are two sides to everything, though humans tend to focus on one side of the coin. The latest weapons can help through deterrence, not just destruction. Artificial intelligence is an incredibly useful tool despite its dangers. And cryptocurrency, just like everything else, can be a force for good in the world.
Crypto is about PnLs, market and limit orders, DeFi and staking, coin offerings and L1s. It is also about borderless payments which can facilitate goodwill donations by anyone from anywhere to any organization that works towards a noble cause.
The philanthropic space, just like health, finance and sports, has realized the benefits of adopting crypto. Some of the best known global and regional charities have created channels for crypto donations.
Bitcoin, Ethereum and stables like USDT are the most popular coins supported by charities accepting crypto. Depending on the type of crypto charity, other popular digital coins like Dogecoin, Monero, Bitcoin Cash and Litecoin may also be accepted.
So if you're moved to reserve some of your cryptocurrency holdings or trading gains for a worthy cause, there are lots of charity crypto projects that would be happy to receive your donation
These crypto-affiliated charities vary by mission. Some are dedicated to helping oppressed peoples in war-torn areas like Ukraine to stand up to the aggressors. Others utilize blockchain technology to support next-gen ideas and technology like effective altruism and AI.
These organizations all have noble goals and have thrived through the benevolence of citizens who use some of their crypto for charity. This article presents 5 reliable and dependable crypto charity projects. So if you're looking for charities that accept crypto, you've come to the right place.
1. Electronic Freedom Foundation
The Electronic Freedom Foundation (EFF) is a U.S. 501(c)(3) nonprofit that has a mission to defend civil liberties and human rights both online and offline, but especially online. It supports outreach and legislation that protect digital rights and provides funding for projects that promote the rights of the individual to free expression in the digital space.
The EFF sees increased legislation and user restrictions in the digital age as a wall that stifles creativity and infringes on the rights to liberty. Thus, it campaigns hard against moves that seek to restrict people's rights and freedoms, especially online. The organization has a long and proud history of canvassing change and is one of the best charity crypto projects around. It accepts Bitcoin, Bitcoin Cash and Ethereum from individual donors and you can also elect to receive some cool swag if you donate at least $100.
2. Kyrrex Charity
The start of the war in Ukraine has led to a groundswell of governmental, institutional and individual support for the beleaguered country which continues to maintain its independence in the face of overwhelming odds. The Kyrrex Charity is the social arm of Kyrrex, a regulated crypto-fiat ecosystem. Its goal is to work towards the war's end and victory for Ukraine by supporting the country's civilians, volunteers and defenders through financial aid.
The foundation organizes charity events and fundraisers all over the western world to raise money which it then distributes to various agencies across Ukraine.
Because of the difficulties caused by the war, crypto donations to Ukraine is one of the best ways to get money across to those who need it on the ground. That is why the Kyrrex Charity's main vehicle is a crypto charity fund. Benevolent individuals and organizations can directly donate Bitcoin, Ether and USDT through the foundation's Ukraine crypto donations wallets and be rest assured the money will be used for a worthy cause.
So if you have excess coins gathering dust in your wallet or cold storage and wondering how to donate crypto to Ukraine, you can send your coins to a Kyrrex Charity wallet and sleep easy knowing you've just done a great deed for humankind.
3. UNICEF Cryptocurrency Fund
Unicef, or the United Nations Children Fund, works in 190 countries across six continents to help children overcome developmental and geographical challenges and achieve their full potential from early childhood to adolescence. It's long been one of the most visible agencies of the UN and its impact has been felt in every corner of the globe for decades.
In 2019, UNICEF launched a crypto fund to simplify fundraising and grants distribution and reach their networks of donors and beneficiaries faster than the complicated web of traditional finance would allow. Donors can send BTC and ETH directly to the UNICEF CryptoFund. To date, the fund has received 8 BTC and 2527 ETH which is distributed to open-source frontier tech solutions showing promising results.
All donations made by the funds are done in BTC and ETH only and capped to $100k. Through this scheme, UNICEF has invested 52 ETH in a digital cash and voucher transfer platform in Nigeria, 43.5 ETH in a platform for digital healthcare savings in DR Congo, and 21 ETH in a tool for visual eye tests to detect vision disorders among children in the UAE.
4. The Giving Block
Would you like more control and flexibility over your charity crypto donations? Then you can check out The Giving Block. This donations service is like a crypto charity marketplace that allows you to give crypto to a nonprofit, charity, university, faith organization, environmental NGO or any other mission-driven agency of your choice.
The Giving Block emphasizes choice and flexibility. Donors are free to choose any of the 100+ organizations that accept crypto donations through the service. You can use their search tool to filter available organizations. For example, a "crypto donations Ukraine" search brings up the Ukrainian American Coordinating Council, the US-Ukraine Foundation and similar organizations. You can also switch to "Impact index funds" and donate crypto to a particular cause, such as the war in Ukraine, women and girls empowerment, or arts and culture.
Another big draw of The Giving Block is the versatility provided for those who use the platform to donate crypto to charity. Most blockchain-positive philanthropic platforms support just a few cryptocurrencies. But on The Giving Block, you have your pick of more than 70 crypto options to donate with such BTC, ETH, USDC, USDT, DAI, MAKER, AVAX, SOL, and many more.
5. The Tor Project
Tor, or The Onion Router, is the free and open-source browser that enables anonymous communication through a network of volunteer nodes spread across the world. The Tor project and its browser allow users to bypass censorship and restrictions on internet usage. It generates a semblance of digital privacy and independence in an environment rife with governmental policy.
The Tor Project accepts donations in crypto and other avenues to keep the Tor network running and protected against intrusion by global institutions and governments. Tor accepts crypto donations in 9 currencies including Bitcoin, Ethereum, Dogecoin, Augur, Dash, Litecoin, Monero, Stellar Lumen, and ZCash.
Donating Crypto to Charity
If you'd love to donate crypto to charity, you can try one of the organizations on this list or another one that accepts digital currencies. You can donate your crypto directly—no need to convert into a stablecoin or fiat money first. Moreover, if you have a stablecoin in your portfolio, you can donate that. The price of a stable fluctuates less compared to traditional cryptocurrencies, which can benefit the charity of your choice more than a volatile coin would.
Making donations to a charity actually helps fulfill one of the founding principles of cryptocurrencies—anonymity. By donating through crypto, you show that you truly care about a cause and aren't donating just to look good in the news or on social media.
5min reads