How to get free cryptos? Some buy them outright, while others top up their purchases with free gifts.
How to get free cryptos? Yes, it’s possible, some people even earn money every month thanks to the cryptos they’ve received, how do they do it?
If you keep up to date with DeFi news, you’ll know that on a fairly regular basis, projects announce token distributions – in fact, this is called an airdrop.
How to get free cryptos?
Getting free cryptocurrencies typically involves participating in various promotional activities or programs offered by crypto projects. Here are some common ways to acquire free cryptocurrencies:
Airdrops: Crypto airdrops involve distributing free tokens to wallet addresses of participants. Companies do this to promote their project or as a reward for holding a specific cryptocurrency. You can find airdrop announcements on crypto forums, social media, and dedicated airdrop websites.
Bounty Campaigns: Some crypto projects offer bounty programs where participants can earn tokens by completing tasks such as social media promotions, content creation, bug reporting, or community engagement.
Faucets: Crypto faucets dispense small amounts of cryptocurrencies for free. While the rewards are minimal, they can add up over time. Websites like Coinpot or Freebitco.in offer Bitcoin faucets.
Referral Programs: Many crypto exchanges and platforms offer referral programs that reward you with free tokens or a percentage of trading fees when you refer new users.
Promotional Giveaways: Follow cryptocurrency influencers, projects, or exchanges on social media platforms like Twitter, where they often host giveaways for free tokens.
Earn Tokens by Using Apps or Services: Some decentralized finance (DeFi) platforms or blockchain-based games allow you to earn tokens by using their services or playing games.
Warning!
Remember to exercise caution when participating in these programs. Always verify the legitimacy of the project and avoid sharing sensitive information such as private keys or passwords.
In a nutshell:
Competitions can sometimes be interesting, but sponsorship or affiliation requires you to be followed by a large community in order to win significant amounts of money. There is one method that is still interesting: taking part in an airdrop.
There are several potential benefits to participating in an airdrop:
Receiving free tokens: The most obvious benefit is receiving free crypto-currency tokens. Selected participants in an airdrop often get a fixed or proportional amount of tokens, sometimes simply for fulfilling the registration requirements.
Discover new projects: Airdrops are often used by new projects or ICOs (Initial Coin Offerings) to draw attention to their token. This can enable you to discover promising projects that you might not otherwise have paid attention to.
Potential for future profit: If the token distributed during the airdrop increases in value in the future, you could make a profit without having invested any initial money.
Community engagement: Some airdrops require active participation, such as following a project on social networks or joining their Telegram group. This can promote community engagement and awareness of a project.
Portfolio diversification: Receiving tokens via airdrops can help diversify your crypto-currency portfolio at no extra cost.
Participation in loyalty programmes: Some projects use airdrops as part of their loyalty programmes, rewarding existing token holders or active users of their platforms.
It is important to note that not all airdrops are created equal and that participation in an airdrop often requires certain conditions to be met or specific steps to be followed. It is advisable to exercise caution when participating in airdrops, always checking the legitimacy of the project and avoiding sharing sensitive personal information.
What should we be wary of when we receive free cryptos?
When you receive cryptocurrencies for free, whether through airdrops, promotional gifts or other means, it’s important to remain vigilant and be wary of the following potential risks:
Fraudulent projects: Be wary of cryptocurrency projects that offer tokens for free but could be scams. Some projects may distribute tokens with no real value or exploit users by collecting their personal information.
Wallet security: make sure you use secure cryptocurrency wallets and never share your private keys or recovery phrases with third parties. Scammers could contact you claiming to be handing out free cryptos and then steal your funds.
Hidden fees: Some airdrops or promotions may have hidden fees or hidden conditions that could cause you financial losses. Always read the terms and details of the offer before participating.
Market volatility: Cryptocurrencies are notoriously volatile. Even if you receive tokens for free, their value can fluctuate considerably. Be aware of the risks associated with holding these assets.
Phishing and scams: Beware of phishing attempts where fraudsters may contact you by e-mail, direct messages on social networks or other means, claiming to be distributing free tokens. Never provide personal information or identifiers to these people.
Regulation: Make sure you comply with local laws and regulations regarding cryptocurrencies and airdrops. Some countries have strict regulations on the collection, possession and use of cryptocurrencies.
In general, it is advisable to be cautious and do thorough research before participating in free cryptocurrency offers. Be sure to check the legitimacy of the scheme and protect your personal and financial information from online threats.
Example of a successful crypto distribution:
One notable example of a successful crypto distribution is the airdrop conducted by the project Stellar (XLM). Stellar is a blockchain platform designed to facilitate fast and low-cost cross-border transactions. In 2019, Stellar announced a massive airdrop of $125 million worth of XLM tokens to users of the popular cryptocurrency wallet provider, Blockchain.com.
Here’s why this distribution was considered successful:
Wide Reach: Blockchain.com is one of the largest and most widely used cryptocurrency wallets, with millions of users globally. By partnering with Blockchain.com, Stellar was able to distribute XLM tokens to a vast audience, increasing awareness and adoption of the Stellar network.
User-Friendly Process: The airdrop was conducted in a user-friendly manner, with Blockchain.com users simply needing to sign up for the airdrop to receive free XLM tokens. This simplicity encouraged participation and engagement from a broad user base.
Strategic Marketing: Stellar leveraged this airdrop as a marketing strategy to promote its blockchain platform and demonstrate the utility of XLM tokens for cross-border payments and remittances. This helped attract new users and developers to the Stellar ecosystem.
Positive Impact on Adoption: The airdrop contributed to increased adoption of Stellar’s technology and XLM tokens, as recipients had the opportunity to use and explore the benefits of the Stellar network without the need to purchase tokens.
Overall, the Stellar airdrop exemplifies how a well-executed distribution strategy can effectively promote a cryptocurrency project, drive adoption, and engage a large community of users. However, it’s important to note that the success of such distributions often depends on careful planning, strong partnerships, and clear communication with participants.
