Simple Guide On How To Earn Free Cryptocurrency From Airdrops

It’s always a big blow for people who wish to invest in cryptocurrencies but have limited or no funds to start with. This could sometimes be frustrating. If you’re in this category, you don’t have to worry anymore. Today, I will be showing you how you can earn free cryptocurrency by completing simple tasks online. All you have to do is read to the end of the post in order to get every detail.

Earn Free Cryptocurrency

Airdrops are actually very important events that take place in the cryptocurency world and they can actually put a few bucks in your pockets if you do them the right way. You will get to know what airdrops are, how they work, and how you can involve yourself in them. In order to know how airdrops work, you should be familiar with a couple of terminologies.

Airdrop
An airdrop is a procedure through which a blockchain project (could be new or existing) distributes free tokens to its community. One has to participate in certain tasks in order to earn free cryptocurrency from airdrops. Some of these tasks include subscribing to the project’s feeds, posting on social media, writing a blog post about the project and lots more.

Blockchain
This refers to as a transparent system that is frequently updated through a network of personal computers. It is completely decentralized and very difficult for anyone to corrupt the system. It is more like the trust layer of the internet as information on a blockchain can’t be manipulated.

ICO
The full meaning is Initial Coin Offering. This is similar to an IPO in the non-crypto world. Blockchain startups issue out their own token in exchange for Bitcoin or ether.

Token
This refers to ‘currency’ of projects hosted on the ethereum network. They raise money by issuing their own tokens to the general public. Tokens have a significant use in the project's ecosystem. Examples of tokens are Enjin Coin (ENJ), Zilliqa (ZIL), OmiseGO (OMG), Augur (REP) etc.

Wallet
This is a software program where you can store your coins or tokens. It facilitates sending and receiving of cryptocurrencies.

What is an airdrop?

An airdrop is a procedure through which a blockchain project (could be new or existing) distributes free tokens to its community. One has to partake in certain tasks in order to earn free cryptocurrency from airdrops. Some of these tasks include following the project’s profiles on twitter, telegram and other social media platforms, subscribing to the project’s feeds, posting on social media, writing a blog post about the project and lots more.

In other words, airdrops give you to opportunity to get tokens that you would have bought at ICO stage for free. You can always sell your airdrop tokens when they get listed on an exchange, you can also sell them as soon as you get them in the case of already existing projects. Most crypto airdrops we have today are hosted on a smart contract like Ethereum. Tokens hosted on smart contracts are called ERC20 tokens and they can be stored in ERC20 compatible wallets like Myetherwallet, Metamask etc.

Types Of Airdrops

Google forms: A lot of new projects create this form with the help of forms.google.com. It’s more like providing answers to certain questions.

Typeform: This one is very similar to google forms.

ICOs: It is very possible for a project to cancel its token sale exercise and decide to give them out for free to its community members. Examples of projects that did this include Hydro, IGtoken etc.

Telegram bots: A project may decide to use robots during its airdrop campaign by creating a Telegram bot. Airdrop participants have to answer specific questions by interacting with the bot.

Self drop: In this case, the project devs set up an auto response system to the token smart contract to give out a specific amount of tokens to any address that sends in 0 eth. Sometimes you may have to send up to 0.001 or more to the smart contract before you get tokens. I’m not really a fan of this particular type of airdrop as airdrops are meant to be completely free provided you have done the necessary tasks. Involving yourself in this kind of airdrop is a decision that should be taken by you alone. In a nutshell, you’re solely responsible for the aftermath be it good or bad.

Bounty: You can also earn free cryptocurrency by participating in bounties. A bounty is a more difficult way to get free crypto tokens but it pays more than the regular airdrops. You’re expected to take part in tasks like translation of project documents from one language to the other, writing about the project, making video reviews about the project etc.

Note that there is a difference between airdrops and ICOs. You buy tokens during ICOs while airdrops are completely free.

Requirements To Earn Free Cryptocurrency From Airdrops

There are a couple of apps you will need before you can involve yourself in airdrops. You might already have some of them.

Email address: I will advise you to create a new email address specifically for airdrops.

Social media accounts 
Facebook: A Facebook profile link looks like this>>https://www.facebook.com/Satonova19.  The username is Satonova19.

Twitter: Create a twitter account if you don’t have one. Get at least 100 followers as a few projects will demand that you have a specific minimum number of followers in order to participate. A twitter profile link looks like this>>https://twitter.com/Satonova19 (@Satonova19 is the twitter username). Some projects will ask for username while others will demand for just your username.

Whatsapp: I’m pretty sure that most of you already have this on your mobile phones. Nevertheless, you have to download the app to your phone if you don’t have one yet.

Telegram: You need to download the Telegram App on your Smartphone. This app is available on Google Play Store. This is one of the most important tools for you to earn free cryptocurrency. Create an account and verify it with your phone number. Set your Telegram username by navigating to settings, type your desired username in the box and save. A Telegram account link looks like this>> https://t.me/Satonova19. The username is @Satonova19.

You will also need the following social media accounts in order to earn free cryptoccurrency from airdrops.
  • Bitcointalk.org account. Register here.
  • Linkedin. Register here.
  • Reddit. Register here.
  • Medium. Register here.
  • Discord. Register here.
  • Steemit. Register here.
Multi-Currency wallets
These kinds of wallets support various tokens, meaning that you can store hundreds of tokens in one place provided it’s an ERC20 token. Some of them are MyEtherWallet.com (recommended), imtoken, Waves Wallet, coinomi, blockfolio etc.

You’ll also need time, a good internet connection and little Eth for gas fees.

How To Earn Free Cryptocurrency By Participating In Airdrops

Participating in airdrops is not in a way a big deal. It’s more like filling the required information needed by the project team. It’s similar to registering an account online. All you need are the necessary tools that are listed above.

Step 1: Create a new Ethereum wallet via MEW. Store your private keys and passwords in a safe place for security reasons.

Step 2: At this point I want to believe your airdrop email has been created. Please do so if you haven’t. Be sure to also copy all your social media profile links and usernames, Ethereum address onto a notepad for easy access when filling the airdrops. Be very careful when filling airdrop forms as mistakes will lead to disqualification. Always ask questions via the project’s social media platforms if you ever encounter any issue while filling an airdrop.

Step 3: Once you have filled an airdrop correctly, you should get tokens in return at a given time. You can track your airdrop tokens on https://ethplorer.io. Enter your Ethereum address on the site and click on “explore”, you should see all your received tokens under transaction history.

Step 4: It is very important to enter the token details after receiving a particular token. To do this, log into your MEW and click on “Add Custom Token”, enter the contract address, token symbol and decimal number which can be found by clicking on the token name under “Balances” on the Ethplorer page and click save. Make sure the data you’re entering is correct.

Take Note Of These Things:

  • The procedure for creating a wallet is almost the same irrespective of your choice of wallet. Keeping your passwords and private keys safe is important. Making your private keys available to a stranger is the same thing as handing over your wallet to him.
  • There are many airdrops that are web based i.e your tokens can only be seen on your dashboard pending the time airdrop distribution commences. In cases like this, you have to keep your login details somewhere safe.
  • Always keep record of any airdrop you take part in. This will enable you to know when the distribution starts and also know when the airdrop gets listed on an exchange..
  • Don't ever underestimate any project. Participate in as many airdrops as you can.
  • Submit your details correctly in cases where you're to submit them to a Telegram bot. Avoid making mistakes as they can get you disqualified.
  • And lastly, make sure you HODL your airdrop tokens for some time so as to get good value for them. 

I want to believe that this article was able to help in your quest to learn how to earn free cryptocurrency. You can take part in airdrops irrespective of your stand in the crypto space. All you need is to really understand the whole concept behind airdrops. You can get latest airdrop updates on the Buzzin Website. Good luck

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  1. Thanks for the information. I've been searching the whole internet for this, thanks to this blog. I'll surely visit again.

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    1. I'm glad the article was helpful. Thank you for visiting.

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