Is there a way to earn cryptocurrency without actually paying for it? Yes, it is possible to earn up to several digits in cryptocurrency without actually buying the coins. The airdrop in the crypto world is a popular promotional strategy that offers free tokens to the wallet. Now, this would be an inviting offer for it could exceed your annual income by a large margin easily. All that the users have to do is simply time their presence in the crypto space.
Airdrop in the crypto space is a marketing strategy used by cryptocurrency entrepreneurs. It involves the distribution of bitcoins or tokens to existing cryptocurrency traders’ wallets for free or in exchange for a little promotional service.
There are hundreds of announcements coming in every day regarding upcoming airdrops.
‘Airdrop Farming’ became a prominent trend in the second part of the year, with some protocols being extremely generous to its early adopters.
This trend has gained momentum in the second half of 2021, and many platforms have dropped meaty perks to their users. The following list includes some of the most noteworthy airdrops from 2021.
A remarkable platform for non-fungible trading tokens, SuperRare, has dropped a bulk of RARE tokens in August for its early users. Reportedly, some of the wallets show a seven-digit figure from the drop.
The DYDX airdrop reached wallets with a deposit as low as $100. For a single trade, these wallets received around 370 $DYDX tokens, which valued around $3700 at the time of the drop. However, residents of the United States were excluded due to regulatory limitations. The larger tokens, according to the reports, received a sum between $100000 to $1 million depending on their performance.
At the beginning of November, the ENS token announced an airdrop to its users. The tokens were claimed based on the time from when the users’ .eth address has been active and the time until its expiration. The claim was 150 $ENS on average. After the launch, ENS tokens traded at $85 at that time, and the drops’ values rocketed close to $100,000 for some.
Following the market performance of Loot NFT, many tokens were quick to copy the design. Adventure Gold is one of the unofficial offsprings of text-based NFT, which offered free claims to the $AGLD tokens for Loot NFT holders. Each LootNFT was eligible to claim 10,000 $AGLD tokens. Those who cashed out early made 20k to 70k US dollars per LootNFT.
Ribbon Finance is a DeFi protocol powered by OTM features. Around 30 million tokens $RBN tokens were dropped for early users in May and unlocked in October. Users who made a $100 deposit received 12000 $RBN tokens. More than 100 early users on Discord received six-figure airdrops, according to the distribution.
At launching, $RBN was trading about $4. This made even the smallest airdrop over $50,000 in value. Several Ribbon users qualified for airdrops in six figures.
Despite being generous, the airdrop was tainted by controversy when it was found that crypto VC fund Divergence Ventures claimed 2.5 million dollars worth of $RBN tokens by interacting with the platform through numerous wallets. The money was eventually refunded to the Ribbon treasury.
Statistics show that many in the US have received a sum larger than $56k, the average annual income, through air drops. Excitingly, even the smallest deposit, if timed well, could reach unimaginable profits with airdrops.