Find Best Crypto Airdrops With 3 Powerful Strategies
Arbitrum users received from a few hundred to $50,000 worth of free tokens in last week’s airdrop, and a couple of airdrop hunters even received over $1 million.
Airdrops are an awesome way to earn free crypto, especially if your crypto portfolio is small, as they can provide you with a significant amount of new trading capital.
As projects allocate higher rewards to most active wallets, early users of these protocols generally receive a much bigger airdrop than those who get in when everybody else is already farming.
But how to get the best airdrops on your radar?
In this post, we’ll go over 3 strategies, from the simplest to the most technical one, so that you too can learn to profit from free crypto giveaways.
1. Follow the right Twitter accounts
The most effortless way to hunt for airdrops is to follow the right content creators on Twitter. They regularly post new threads on projects with potential along with instructions on how to potentially qualify for an airdrop.
Here are some of the best Twitter accounts that keep you in the know about how to get your hands on free tokens:
@rektfencer, @its_airdrop, @Airdrop_Adv, @OlimpioCrypto, @MingoAirdrop
You can use 2 techniques to make the most out of these tweets.
First, you can create a Twitter list and add these accounts to it. You can do this by clicking on More and Lists in the left side menu on Twitter.
This way, the tweets posted by these accounts will appear in a separate feed and will be much easier to look through than if they were displayed inside your global Twitter feed.
The second strategy is using an app like Thread reader. Thread reader lets you add Twitter content creators to your Authors and see all the threads they publish.
This is a great way to weed out their shorter tweets since the most valuable content is usually delivered in a thread. Threads on Thread reader are also much more pleasant to read than on Twitter because they’re not cut short or intertwined with replies.
You can use Thread reader for free or sign up for a premium version to be able to download threads as a pdf file and receive email notifications when the authors you follow publish new content.
Although the “Twitter strategy” won’t make you an early bird in airdrop hunting, it’s an excellent strategy for those that don’t have the time or the knowledge to do on-chain digging by themselves.
2. Use DefiLlama
DefiLlama is one of the best online crypto aggregator tools I covered in detail here.
One of the many ways you can profit from it is for airdrop hunting by clicking on Defi and Airdrops in the menu on the left.
There you’ll find a list of all new tokenless protocols that might do an airdrop in the future. Bear in mind that these projects haven’t necessarily announced an airdrop and that an airdrop is not guaranteed.
You can scroll through this list once a week and check out protocols that have a TVL higher than $1 million for example. This way, you don’t waste time on small projects.
You can then explore their Twitter account and Discord channel to see if there’s any talk of an airdrop. You can even create another Twitter list, add new projects every week and then search for “airdrop” or “token” inside the list.
This strategy is usually best to get in on smaller airdrops but can still generate a nice profit if you use it regularly.
3. Monitor on-chain transactions
If you want to become an early adopter of big protocols to get large allocations on the biggest airdrops, you’ll have to do some extra work.
Some people spend their the largest part of their days farming free tokens and have become experts. Luckily, on the blockchain, everything is transparent. You can regularly analyze what most successful addresses are doing and connect the dots to find out if they’re potentially airdrop farming.
Lookonchain did a great thread where they exposed 6 wallet addresses that got free tokens from all recent major airdrops, like $ARB, $OP, $BLUR, $DYDX, and so on:
By monitoring the on-chain transaction history of these addresses with tools like DeBank (free) or Nansen (pricey), you can find out exactly what they’ve been doing.
If they’re using some little-known protocol, especially a tokenless one, there’s a good chance they’re expecting an airdrop.
You can also use sites like Whale Stats to discover other whales’ addresses and follow them on DeBank. Once you follow several addresses, you can correlate the information you receive from each of them to draw your conclusions.
Monitoring on-chain transactions is the best strategy for those who want to discover new hot trends and protocols before the large crowds and are, of course, willing to put in the work.
Tips
Once you do find an airdrop, it can be easy to do the required tasks a couple of times and then forget about them. If you’re serious about airdrop farming, you’ll need to get organized.
To qualify for an airdrop, you should interact with the necessary protocols at least a couple of times a week.
Carve out a specific time of the week that you dedicate to performing these tasks (it can be just 30 minutes). You can also use online planners and calendars like Trello and Google Calendar to organize tasks and set reminders.
Use a site like CryptoRank to see how much money the project has raised. The more money it has raised, the biggest the potential airdrop.
Arbitrum raised $120 million and the airdrop was one of the biggest in crypto history. zkSync has so far raised over $400 million. Can we expect an even bigger airdrop? Possibly.
Final thoughts
Airdrops are a great way to get fresh free capital to your wallet, even if you’re a little late to the party. That’s because, at the end of the day, the number of people that qualify for an airdrop is relatively small.
For example, it might seem like the entire Twitter is talking of nothing else than the Arbitrum airdrop, but the number of addresses that actually got free tokens is just around 600,000.
This means that over 1 billion ARB tokens were distributed to a relatively small number of people which of course increased the share these users got.
Remember that Web 3.0 is used only by a handful of people. Among them, even fewer have the knowledge and discipline necessary to hunt for free tokens. This gives you better chances to get bigger allocations and, hopefully, the motivation to do your due diligence.
PS: If you want to learn how to make a consistent profit from the Metaverse in 2023 and beyond, check out my free guide How To Make Your First $1000 In The Metaverse.
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Disclaimer: This content is for educational purposes only and should not be considered as financial or any other advice. Always do your own due diligence before investing your hard-earned money.
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