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Who does not want to have free Cryptos in their wallet? As a part of their token launch, various new Crypto projects launch their tokens as “airdrop” to their Crypto fam free of charge to expand their chances of acceptance. So, let’s see what airdrops are and a list of some top Crypto airdrops of 2023. Keep reading!
What is a Crypto airdrop?
A Crypto airdrop is a way to obtain free coins from a Crypto project. These coins can be obtained in several ways. Free coins are frequently connected with an airdrop; however, this is not always the case. You are required to put in the necessary time and effort, or you may risk having to pay transaction costs. However, you can also take part in an airdrop for almost nothing!
A recipient might need to have a minimum number of Cryptos in their wallet to be eligible for the gift. Alternatively, they might be required to do a specific activity, such as publishing a blog post, interacting with a significant member of the blockchain project, or blogging about the coin on a social media platform.
How does Crypto airdrop work?
Typically, airdrops are sent out on the Ethereum and Binance Smart Chains. This demand that users either promote the organization or have a particular amount of Crypto in their wallets.
The users’ availability of the projects’ tokens that are being marketed may not be guaranteed even if they follow all the requirements. Frequently, the project restricts access to members who joined it before a specific date. Like any marketing strategy, Crypto airdrops have their pros and cons.
Pros of Crypto airdrops
- An excellent strategy for building “buzz” about the new coin venture.
- People absolutely like receiving free money.
- It has the ability to draw in an extensive user base.
- Costs for marketing will be very minimum.
- Others will be informed quickly about the new coin project.
- Announcements of airdrops spread like wildfire.
Cons of Crypto airdrops
- Investors may sell the token immediately after the release, causing its value to decline.
- The impact will be minor if fewer tokens are issued.
- The value of a coin might be diluted by issuing many tokens.
- It is necessary to perform KYC and AML checks, which can be a laborious process.
Since you have an overview of what airdrop is and its pros and cons. Let’s see some of the top Crypto airdrops of 2023.
5 Top Crypto Airdrops of 2023
#1 Sui: Proof-of-Stake Layer 1 Blockchain
The Sui and Aptos blockchains are utilizing cutting-edge implementations of blockchain technology using Meta’s Move programming language for Diem. Those who used the Aptos Testnet were rewarded handsomely, with some earning up to $7,000 in Crypto, just for experimenting with the blockchain. Sui, another well-funded project, is rumored to take a similar approach.
Sui aims to offer quick transaction speeds at a low cost of up to 1,200 transactions per second. It operates on the Proof-of-Stake (PoS) consensus method and is coded in a slightly modified version of the Move programming language. A multi-directional block validation approach is utilized to expedite transaction processing.
Participate in the Sui initiative by joining the testnet program launched in May 2022 and assisting with its promotion on social media. Early network adopters have already put the Sui testnet through its paces, and actively promoting the initiative online could increase your chances of receiving an airdrop.
#2 C+Charge: A Green Crypto
Cryptos that prioritize environmental improvement or are eco-friendly are becoming more popular. Despite the environmental concerns associated with popular Cryptos like Bitcoin and Ethereum (ETH), C+Charge appears to be receiving the opposite response from the community.
C+Charge is one of the top green Cryptos available today, even though its primary components may not appear to be a direct solution to making Crypto more environmentally friendly. The project team has used advanced blockchain technology to construct a system that awards carbon credits to electric vehicle owners who use approved charging stations. C+Charge’s accompanying app includes numerous convenient features, for example, live charging wait times and station diagnostics.
C+Charge is an inventive and potentially profitable idea, and its native token, CCHG, has increased in value alongside it. However, some people are focusing on a C+Charge promotion in which a random Crypto holder stands a chance to win CCHG tokens of $50,000! In the final days, the number of visitors to the site has increased dramatically. It will be exciting to see how well this novel initiative performs in the coming days. If you’re interested in participating in giveaways, C+Charge is a project you don’t want to miss out on.
#3 MetaMask: A Famous Custodial Wallet
If you’re seeking a promising upcoming Crypto airdrop, keep an eye on MetaMask, a well-known custodial wallet that may be offering free Crypto. MetaMask is a mobile application and browser plugin providing Crypto traders with a private login and key.
Furthermore, MetaMask can function as a wallet, exchange, or any other necessary tool to securely store digital assets. The number of people using MetaMask every month has exploded, surpassing 30 million. Individuals and businesses can use the wallet to access DeFi, create NFTs, and execute other operations on smart contract networks.
MetaMask is on the list because it is widely rumored to be developing its own coin. Furthermore, MetaMask is anticipated to conduct an airdrop when the platform launches its native currency, given the increasing popularity of such initiatives in the Crypto sector.
Joseph Lubin, the creator of the platform on which MetaMask was created, tweeted in late 2021 to “stay tuned,” presumably referring to $MASK. As we’ve noted, MetaMask is already popular, so it could be significant if this airdrop comes to fruition.
#4 Fuel: A Modular Blockchain Architecture
Fuel is a project focused on scalability, originally being the first optimistic roll-up launched on Ethereum. With the shift towards modular architecture, Fuel aims to separate execution from other functions, enabling specialization at the base layer and increasing throughput. It can serve as a roll-up, sidechain, or even a Layer 1.
There is a possibility that Fuel, as an optimistic roll-up, might release an airdrop given the trend of Layer 2 blockchains releasing airdrops like Arbitrum and Optimism.
The Fuel testnet is currently available for those interested in exploring the ecosystem and the projects on it. Participation in the ecosystem now could potentially be considered as an eligibility criterion for any future airdrops.
#5 Shardeum: An EVM-Compatible Sharded Blockchain
Shardeum is currently focused on developing a next-generation smart contract blockchain on a Layer 1 network. Using sharding technology, the platform aims to offer its users the best blockchain experience possible.
Shardeum’s EVM-based blockchain will implement a network of split chains that can execute transactions with incredible speed. By splitting user requests across the shards, Shardeum can process a high volume of transactions, with a projected speed of up to 2,000 transactions per second. The blockchain operates on the Proof-of-Stake and Proof-of-Quorum consensus mechanisms.
Like Aptos, Shardeum is also expected to reward early testers. The platform offers a testnet where users can carry out transactions and try out its functionalities. To use the Shardeum testnet, you can add the Shardeum network to your MetaMask wallet, claim faucet tokens, and tweet about your experience. Social engagements and testnet activities are likely to be the eligibility criteria for the rewards.
Conclusion
This article mentions some of the best Crypto airdrops of 2023, but this is definitely not a complete list. Also, the Crypto airdrops discussed here are not a promised event that’s sure to happen. But, there are continuous patterns in the types of activities that you can perform to maintain your presence in the community and increase your chances for free Crypto airdrops.
Also, please keep in mind that the information shared in this article is not financial guidance. So, before choosing a project for interaction with a protocol or any DApp, doing your own research is always advisable.
Frequently Asked Questions
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
Is Crypto Legal In India?
Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India
Is Ethereum Safe To Invest?
The Bitcoin market is unquestionably more volatile than the stock market. This may not be the market for you if you are incredibly risk-averse. Ethereum, on the other hand, may be a terrific investment for you if you're a diamond-handed investor who won't lose sight of short-term losses. Ethereum is a relatively safe investment as it is also based on blockchain.
How To Invest In Cryptocurrency Stocks?
Cryptocurrency can be purchased in two ways: through mining or exchanges. The process of confirming and adding transactions to the blockchain public ledger is known as cryptocurrency mining. Cryptocurrency exchanges are another option. Exchanges make money by charging transaction fees, but there are alternative platforms where you may communicate directly with other cryptocurrency traders.
Are Cryptocurrencies A Good Investment?
Cryptocurrency has the potential to make you extremely wealthy, and the potential to cause you to lose your money. Crypto assets, like any other investment, come with many risks and potential rewards. Fundamentally, cryptocurrency is an excellent investment, particularly if you want to gain direct exposure to the demand for digital currency.
What Is The Meaning Of Crypto?
A cryptocurrency is a digital currency that is secured by the process of cryptography, making counterfeiting and double-spending almost impossible to happen. Blockchain technology is used to produce cryptocurrencies ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a centralized authority does not issue them.
Which Cryptocurrency Is Best To Invest In 2021?
Many altcoins are flourishing to invest in. Some cryptocurrencies with great potential are Ether, Ripple, Tron, and more. Investors are trying to diversify their portfolios and are flocking to the leading cryptocurrencies. Many growing businesses are already accepting cryptocurrency as acceptable payment methods.
How Many Cryptocurrencies Are There?
There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.
How To Invest In Cryptocurrency In India?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is the process of verifying and adding transactions between users to the blockchain public ledger. Purchasing cryptocurrency in India is a straightforward procedure where investors simply participate by registering with a crypto exchange such as WazirX. After registering for an account, citizens can trade multiple cryptocurrencies, store cryptocurrency in wallets, and more.
Can I Invest In Cryptocurrency?
Yes, with exchanges like WazirX, you may invest in cryptocurrency in India. To begin, go to the WazirX website and register. After that, you will receive a verification email. The link received by verification mail will only be available for a few seconds, so make sure you click it as quickly as possible. This will successfully verify your email address. The following step is to set up security, so choose the best solution for you. After you've set up the security, you'll be given the option of continuing with or without completing the KYC process.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
