What are Crypto Airdrops? How to Spot Upcoming Airdrops?

What is an airdrop? A crypto airdrop is basically a framework for acquiring free cryptocurrency from a potential blockchain project. There are numerous ways to obtain these tokens. An airdrop is sometimes linked with free cryptocurrency, however, this is not always the case. You must commit time and effort or risk incurring transaction expenses. But you could also take part in an airdrop for free.

Why Crypto Airdrops?

The main purpose of a crypto airdrop is to endorse a blockchain-based company, initiative, or service. By distributing tokens to users, the organisation may kick off its initiative right away and guarantee an equitable distribution of tokens among its community. In addition, recipients of these tokens are encouraged to raise awareness and assist the project in reaching a larger audience once the token commences trading on a market. Typically, airdrops acquire popularity through promotion on a project’s website, cryptocurrency communities, and social media.

Cryptocurrency initiatives have a limited number of tokens available for distribution to anyone who match the eligibility conditions. You can gain access to these tokens by completing activities. Crypto airdrops can be obtained in a variety of methods. Signing up for an airdrop or doing additional tasks is frequently required. You can claim the tokens after completing activities or winning them, or they will be directly transferred into your wallet.

Are Crypto Airdrops a scam?

Although the majority of these airdrop offers are totally safe to participate in, there are a few crypto airdrop scams that attempt to attract consumers into making financial investments. A legal cryptocurrency airdrop never solicits monetary investment. Its sole purpose is promotions. Airdrop frauds may involve luring market participants to purchase certain security in the expectation of receiving a different item through an airdrop. 

How to discover forthcoming cryptocurrency airdrops?

Participation in airdrops has the potential to be very profitable. Several airdrop recipients have earned benefits, including the ability to purchase these tokens during the presale at a significantly reduced price. One of the simplest ways to locate them is to search for “Upcoming Crypto Airdrops” on Google or #airdrops on Twitter. These events are intended for marketing and project promotion, and they are typically easy to locate. Multiple blogs, websites, and social media profiles are devoted to informing the public about legitimate airdrops.

Upcoming Crypto Airdrops in 2022-23

SUI Crypto Airdrop

Sui is a forthcoming layer 1 blockchain that originated from Facebook’s Diem blockchain project. It employs the Move programming language.

Read more: How to get SUI Crypto Airdrop

zkSync

ZkSync is a Layer 2 scaling solution for Ethereum that provides minimal gas usage and quick transactions without sacrificing security. At any moment, individuals can withdraw assets to Layer 1. The zKsync testnet is now live, and the mainnet will shortly follow.

Read more: How to get zkSync Crypto Airdrop

Layer Zero Crypto Airdrop

LayerZero is a customizable User Application (UA) on-chain endpoint that operates a ULN. This new forthcoming blockchain intends to link all Ethereum Virtual Machine chains, bringing all liquidity pools together.

Read more: How to get LayerZero Crypto Airdrop

Arbitrum Potential Airdrop

The Arbitrum network is built by the New York-based business, Offchain Labs that aims to alleviate the Ethereum network’s congestion by increasing the validation of smart contracts. The platform utilizes the security offered by the Ethereum mainnet but enables smart contracts to operate on a separate layer.

Read more: How to get Arbitrum Crypto Airdrop

StarkNet Airdrop

StarkNet is a decentralized, permissionless Validity-Rollup. It functions as an L2 network on top of Ethereum, allowing any decentralized application to reach unbounded scalability. StarkNet transmits, validates, and bundles tens of thousands of transactions off-chain, therefore conserving gas and significantly improving system scalability.

Read more: How to get Starknet Crypto Airdrop

Quai Network Crypto Airdrop

Quai Network is a Layer 1 network of blockchains that achieves high throughput without losing decentralization via merged mining. Quai Network is running a bounty program in which participants may earn QUAI for performing basic activities. Register for the bounty program and just do some basic activities to earn QUAI tokens for free.

Read more: How to get Quai Network Crypto Airdrop

Metamask Crypto Airdrop

Metamask could also come up with a token, and there could be potential airdrop coming up. Although there are more than million users who uses Metamask everyday, it would not make sense to actually airdrop token to all the users. Metamask has recently come up with a portfolio tracker, and many more features, and there is a high chance of tokens being airdropped to users using these features. We have made a detailed guide on the same as well.

Read more: How to get Metamask Crypto Airdrop

Final Thoughts

Airdrops are a method for businesses and initiatives to promote their token or currency. It is also a method for increasing the liquidity of their security by distributing it to thousands of wallets. Despite the fact that airdrops have value and may be considered free money, there are considerable dangers involved if consumers are unaware of the possibility of airdrop-related fraud.

Please be aware that dealing with Testnet and, on occasion, the mainnet may be dangerous. If the dApps with which you interact have bugs, you run the risk of losing your bitcoin. Therefore, you should connect with a wallet that has a little quantity of bitcoin, so losing it will not an issue.