Is it worth it to be an Airdrop Hunter?
If you’re reading this, you most likely know your basics about bitcoin, tokens, coins, ICO/STO/IEO (that we will call Public Sales), and even airdrops, but did you know that airdrop hunting can be a pretty awesome source of an extra income?
In this article, we’ll take a helicopter view on airdrop hunting, how much money you can actually make, what you need to do, and what challenges lie ahead. We’ll also present the new Cocoricos tool for airdrop hunters that will let you grab more tokens faster.
What are Airdrops?
Airdrops are free crypto tokens usually released by an upcoming Public Sale or a blockchain project as a way to promote their enterprise.
Some airdrops are simply deposited into your wallet, without you needing to do anything. That happens during some Public Sales, for example, when you have an Ethereum wallet with some ETH in it.
Other airdrops require you to perform tasks, like following the project on telegram or liking it on your social media. They usually also require you to fill a KYC form before you can get your free tokens.
Are Airdrop Tokens Really Free?
Yes, you may receive airdrop tokens for free but you need to share some of your personal information and fulfill specific tasks like joining the project’s Telegram list or promoting it on your social media.
If you feel strongly about your privacy it’s worth remembering that small airdrop projects don’t have the tech giant’s capacity or incentive to aggregate your information for sale. That’s not their business model. What blockchain projects care about is their project’s user base, telegram followers, and social media activity.
Airdrops are most often distributed by crypto startups.
A few reasons why projects give away free tokens:
To promote their enterprise on Telegram and social media.
To gain more followers and exposure.
To distribute tokens to more users and wallets.
To improve their tokens spread and adoption.
To make you fall in love with their project.
How profitable is Airdrop Hunting?
Airdrop tokens vary greatly in value, from literally nothing per airdrop to some real gems worth $100+ for just a few minutes of your time. Airdrop can be a great source of extra income which for some is $1000 a year and for others a $500 a month. Not bad considering you get the tokens for free.
Your success as an Airdrop Hunter comes down to two things:
1. Finding the Right Airdrops.
Finding promising and valuable airdrops is a key to making a profit. If at the end of the campaign tokens don’t reach exchanges or can’t be sold for the right price, you have wasted your precious time for nothing. That’s why researching projects and assessing how promising they are is an important part of the airdrop hunting process. It’s also the most time-consuming one.
When looking at tools and airdrop directories you could use to speed up the research and find the right airdrops, you want your tools to list all the promising & high-value tokens, help you research the projects faster, and allow you to keep an eye on the project development to know when to sell your tokens.
The best airdrop lists and directories will also pre-vet the projects for you and help you avoid the widespread phishing scams and the less worthy airdrops.
2. Grabbing Maximum of Good Airdrops Faster.
Time is a crucial factor in making Airdrop Hunting profitable. Generally, you want to spend the least amount of time on research and signing up for all the airdrops. That’s when you get the most value in the least amount of time, increase your profit per hour, and get to enjoy your spare time.
Having an access to great tools that can speed up your airdrop hunting efforts is critical to maximize your extra income and get the most fun out of the process.
What Tools do you need?
1. A Wallet
Known ERC-20 Compatible Wallets (for Ethereum Airdrops):
- MyEtherWallet (Desktop OR Mobile) RECOMMENDED
- MetaMask (Firefox/Chrome Extension) RECOMMENDED
- Mist (Desktop)
- Parity (Desktop)
2. An Airdrops’ Tasker
Known Airdrops’ Taskers:
To help you make the most money faster and grab only the best tokens in the shortest amount of time, we created a sweet new airdrop tasker tool.
We love beautiful and useful tools that help solve real problems. That’s why we created Cocoricos airdrop tasker to supports all the functions airdrop hunters and token enthusiasts may need. It lets you sign-up for free airdrops, fill the tasks, and track all the interesting projects from one easy and intuitive web app.
How long shoud I wait to get my Airdrops Tokens?
In the Airdrops area, Patience is a master word.
The distribution time varies according to the projects, some of them will reach your wallet within 3 months, others will ask you to wait until the Public Sale is completed which can take a year.
This is explained by the fact that the value you get while grabbing airdrops is usually linked to a new company with a great power of growth because of the emerging crypto market.
You also have to consider the time for the token to reach an exchange for you to be able to trade them.
Join us for the Halloween Launch!
Today, 31st of October we are launching the Airdrop Tasker so be sure to check it out! There will be many fun perks for hunters who join us at the ground floor.
This article does is not constitute investment advice. Information and opinions contained herein should not be considered an endorsement, solicitation, or offer to buy or sell any securities or other financial instruments or provide any investment advice or service.
This article expresses views and experiences of the author. Before taking any action, always do your own research and due diligence.