How To Make Money With Airdrops In 2024

In 2020, an Ethereum token, MEME, was airdropped to the community, and each person received 355 tokens for free. Today, those 355 tokens are worth around $60,000 and over $700,000 at their peak! And if you staked those tokens, you would have earned an additional 7,600 tokens today.

Airdrops are free tokens distributed by new or already existing crypto projects to reward their community or, in some cases, market the project. For you, it’s a means to earn free crypto money.

Let us look at how to make free money through airdrops, how to find them, and some potential airdrops in 2024.

How To Make Money By Selling Or Staking Your Airdrop

So, how do you sell or stake an airdrop?

Selling Your Airdrop 

Selling your airdrop is straightforward. When you receive the tokens, you can either sell them on a decentralized exchange or search for the best crypto exchanges where the tokens have been listed and sell them there. 

You can sell the tokens immediately, or if the project is still strongly hyped, you can wait for the tokens to hit a peak value before selling.

Here’s a step-by-step process:

• Receive the tokens in a designated crypto wallet (decentralized wallet or exchange wallet)
• Hold the tokens in the wallet or transfer them to an exchange that has listed the token.
• When the token reaches a peak value you’re satisfied with, swap the tokens on the exchange to a stablecoin or any other token.

Staking Your Airdrop

Many projects allow you to stake your airdrops into a mechanism to farm more of the same or other types of tokens. In some cases, you can receive NFT rewards. These projects are built with a Proof of Stake (POS) consensus mechanism. 

Here’s how you can stake your airdrop:

• Send your airdropped tokens to an exchange that offers staking services.
• Join a staking pool with your tokens, which will be locked during the staking period.
• Get rewards in the same token or another token for staking your airdrops.
• Staking yields can go from 1% to as high as 100%.

5 easy ways to Find Valuable Airdrops

Discovering and participating in valuable airdrops requires proactive research to ensure you aren’t wasting your time, resources, and hopes. To find valuable airdrops, use these steps:

Step 1 : Actively Follow Airdrop Websites

Several websites list upcoming and ongoing airdrops. These platforms often provide all the information you need concerning the project, the airdrop requirements, and the distribution process. Some of these platforms, like Coinmarketcap, also host the airdrop for the projects. Some popular airdrop websites include Airdrops.io, Airdrop Alert, and Airdrop Bob. 

Additionally, in partnership with new crypto projects to be listed, some exchanges host airdrop campaigns and share a portion of the new tokens with their users.

Such exchanges include Binance, Kucoin, Bybit, etc. You hold a particular asset designated by the exchange for some time, and they take portfolio snapshots for verification and token allocation.

Step 2 : Join Airdrop Communities

Telegram, Twitter, and Discord are major platforms where you can find crypto airdrop communities, and is a great way to stay informed on the latest airdrop opportunities. 

These online communities often share exclusive airdrop announcements and provide insights and discussions related to participating in the airdrops.

You can also gain followers and referrals for referral contest Airdrops if you’re an active community member. Some legit telegram airdrop channels include Airdrop Alert, Airdropster, bounty alerts, and so on.

On Twitter, you can join Airdrop spaces and follow famous crypto figures who often post legit Airdrop updates.

Step 3 : Participate in Crypto Forums

On forums like Bitcointalk and Reddit, you can find dedicated sections where people discuss upcoming and ongoing airdrops. You can engage with the community, ask questions, provide answers, and stay active to take advantage of every opportunity.

Step 4 : Subscribe to Airdrop Newsletters

Many crypto websites and blogs offer newsletters that email updates on airdrops, ecosystem news, new projects, and industry trends. Sites like Airdrop alert, Airdrops.io, offer Airdrop newsletter services.

You can subscribe to these newsletters to receive timely information about airdrops directly in your mail. 

Step 5 : Follow Airdrop Influencers And Stay Active On Social Media

One of the best ways to find airdrops and receive timely information about airdrops is by following airdrop influencers, as some of them have actual relationships with some dev teams and learn about the airdrop before it is published. You can follow crypto influencers on Linkedin and Twitter.

Some Twitter profiles to follow for airdrop updates include @Airdrop_Announc, @AirdropKingNews, @AirdropAlert, etc.

How To Organize Your Airdrop Research And Track Your Rewards

Tracking your airdrop tokens and rewards across all platforms and chains is essential to stay organized and monitor their value. 

Coinmarketcap’s airdrop section helps you list airdrops hosted on Coinmarketcap that you have participated in. Other platforms do something similar, but you can create a personal record to keep track of your airdrops for better organization across different platforms.

Here are some methods to help you effectively track your Airdrops:

Use Excel or Google Sheets to create a register 

You can create a spreadsheet to manually track your airdropped tokens. Include columns for the token name, quantity, value, and relevant information like the blockchain network and the wallet with which you participated in the airdrop. Regularly update the spreadsheet to record your airdrops and token holdings accurately.

Use Portfolio Tracking Apps For Automated Tracking

Use portfolio-tracking apps like Delta, Blockfolio, or CoinStats to automate your token-tracking process. You can log on to these apps with a wallet address, and they can provide live updates on token prices and overall portfolio status.

Find Any Transaction or Wallet With Block Explorers

You can use block explorers like Etherscan for Etheruem-based tokens, Solscan for Solana-based tokens, or BSCscan for BNBchain-based tokens to track your airdropped tokens, crypto transactions, or wallet addresses. 

Use Token Tracker Websites To Keep Track Of Airdrop Value

Some projects build websites with a tracking system that you can employ to track your airdropped tokens and rewards. If the project provides such tools, utilize them to monitor your tokens effectively. 

If the project doesn’t have one, you can utilize tracking websites like Dexscreener, Dextools, or Poocoin to track the price of your tokens. All you need is to copy the contract address, paste it on the tool, and do the maths to get the value of your tokens.

Top 6 Potential Crypto Airdrops In 2024

Some potential crypto airdrops to look out for in 2024 include LayerZero, MetaMask, and zkSync. There are decentralized exchanges like Ambient, lending protocols like Marginfi, and Layer 2s like Scroll.

In 2023, we’ve already witnessed the Arbitrum airdrop, with over 42 million ARB claimed in the first hour. Other high-profile airdrops between 2022 and 2023 include TIA, Blur and Bonk.

Let’s look at potential airdrops that might happen this year and how you can position yourself to claim these upcoming crypto airdrops.

Ambient: Efficient Ethereum-based DEX

 Ambient is a decentralized exchange that allows two-sided Automated Market Markers to run in a single smart contract. Its single-contract architecture lets Ambient reduce gas fees and taxes while letting you manage their collateral in a single location without moving your tokens between pools.

Why there might be an Ambient token airdrop

Ambient surpassed $100 million in total trade volume on December 19h, 2023. The project made a cryptic tweet, which has led to community speculations that an Ambient token is imminent.

Positioning for the Ambient token airdrop

To position yourself to receive the Ambient airdrop, you can interact with the DEX by swapping, setting limit orders, and providing liquidity. You can also improve your chances of getting a Scroll airdrop by selecting Scroll as your wallet network.

Scroll: zK Layer 2 Tackling MEVs Through L2 Mining

Scroll is a zero-knowledge (zK) Layer 2 project that aims to scale Ethereum while maintaining user privacy. It uses a hierarchical zero-knowledge proof system for easy deployment, efficient verification, and L2 mining. Scroll can establish communication channels between dApps on Scroll and dApps on other Layer 2s, which opens the opportunity for strategic partnerships between applications. 

Why there might be a Scroll airdrop

As a Layer 2 solution, Scroll will probably release a token for protocol governance like Optimism, Arbitrum, and zkSync’s confirmed (but unreleased) token. 

Positioning for a potential Scroll airdrop

The Scroll Alpha Testnet is currently live. You can connect your wallet, switch to the Scroll network and participate in the testnet. Once you’re in, you can join the Scroll guild, interact with the Uniswap version on the testnet, and explore other dApps on Scroll.

MetaMask: Crypto Wallet With Over 30 Million Users

MetaMask is one of the most famous wallets in the crypto space. They recently introduced features like built-in swaps, fiat on-ramps, bridge aggregators, and liquid staking services. 

Why there might be a Metamask token airdrop 

In March 2022, the founder of Consensys, Joe Lubin, confirmed that there will be a native token to grant governance through a DAO to pursue ‘progressive decentralization.‘ However, there has yet to be confirmation whether the token will be distributed via an airdrop.

Positioning for a potential Metamask token airdrop

To improve your chances of getting airdropped, you can interact with the built-in features on MetaMask and various networks, protocols, and DEXs.

This includes depositing and buying tokens, using the swap feature on Metamask, bridging tokens across different blockchains, connecting your MetaMask wallet to various dApps, and using Metamask’s liquid staking feature. Consider the frequency of your transactions, as that may also be a criterion.

LayerZero: Enabling Cross-Chain Communication

LayerZero is an inter-chain communication protocol built on Omnichain that will allow communication and the transfer of information between various blockchains.

The communication it creates between blockchain networks goes beyond simple asset bridging. LayerZero hopes to unite all blockchain networks under one communication protocol by allowing one chain to rent infrastructures from other chains. 

Layers Zero does this while securing these interchain transactions through proper validations on the chain receiving the request.

Position for a potential LayerZero airdrop

While we’re yet to confirm an airdrop, users who believe that there will be a LayerZero airdrop can start interacting with the ecosystem. Stargate is one of the first protocols on LayerZero, and you can provide liquidity, stake STG tokens, or vote on DAO proposals to improve your chances of getting airdropped. You can also use the Aptos bridge, powered by LayerZero.

zkSync: Layer 2 Protocol Using Zero Knowledge Proofs To Scale Ethereum

zkSync leverages Layer 2 solutions to provide an alternative and more efficient way to utilize the Ethereum blockchain. Layer 2 solutions seek a faster and cheaper transaction experience on the Ethereum chain while benefiting from its security.

zkSync plans to achieve this through a modified version of the ZK-rollup, a layer 2 solution on Ethereum that processes transactions off the Ethereum mainnet increased blockchain speed.

Why there might be a zkSync airdrop

According to zKSync’s developer documentation, zKSync plans to launch a token for the zkSync network, but details are yet to be released. However, as zkSync continues to develop into an ecosystem with many projects deploying their solutions on the platform, the ecosystem will likely launch a token for governance.

Positioning for a potential zKSync airdrop

The most likely criterion for eligibility for a zkSync airdrop is interacting with products and applications in the zkSync ecosystem. 

Note that this is not a confirmed criterion; however, those who ran the the zkSync2.0 testnet and users of zkSync 1.0 may have a higher chance of receiving the airdrop.

Now that the network is live, you can improve your airdrop eligibility by interacting with the ecosystem and adding liquidity.

Marginfi: Decentralized Lending Platform on Solana

Marginfi is a decentralized lending protocol on Solana that offers lending/borrowing and staking, as well as swaps powered by Jupiter and bridging facilities powered by Mayan.

Positioning for a Marginfi airdrop

While a Marginfi airdrop is yet to be confirmed, the protocol has introduced mrgn points, reflecting a user’s engagement level with Marginfi’s lending platform. 

Lenders can earn points by depositing on marginfi, accumulating at 1 point per dollar daily. Borrowers earn 4 points per dollar borrowed daily plus lending points from their loan collateral. 

You can also earn 10% points for your referrals to the Marginfi platform.

Final Thoughts:

These are airdrops that may likely happen in 2024. However, this list only mentions a few, and there are no guarantees that the airdrops listed here will happen.

#WAGMI