Take Part In CoinMarketCap’s Exclusive Crypto Airdrops | CoinMarketCap

How Does An Airdrop Work?

Crypto companies distribute airdrops to increase adoption of its platform. You normally receive a minor come of newfangled tokens if you have interacted with a crypto lotion. typical tasks are :

  • Bridge to a new blockchain
  • Trade on a new exchange
  • Buy an NFT on a new marketplace.

Most airdrops are not distributed randomly but entirely to previous users of a new application. That is why we recommend interacting with equally many modern decentralized applications ( DApps ) as possible before they launch a nominal. Airdrops are a good direction of trying out newfangled applications and being rewarded. Some of the most lucrative airdrops resulted in free money of over $ 10,000 ! Some of the biggest airdrops included Uniswap, dYdX, LooksRare and Optimism. many speculators expect the Ethereum layer-two ( L2 ) chains without tokens to have airdrops in the future excessively. But there are risks to airdrops vitamin a well. Scammers try to announce bogus airdrops to capture secret keys and wallet addresses in phishing attacks. Others allegedly require you to send money to an address. This is called a dust approach and is about surely a scam. The rule of finger is to not accept airdrops unless you know why you are eligible for an airdrop.

You can read more about airdrops and some of the most lucrative airdrops in history in our article diving into what crypto airdrops are.

How To Receive Airdrop Tokens?

Crypto companies and protocols normally announce airdrops on their chitter accounts, Discord channels and websites. however, the airdrops are frequently retrospective. That means the team announces the date of the airdrop, but the deadline for interacting with the protocol has already passed. This is yet another reason to try out new crypto applications before any official announcement.

How To Check Airdrop History?

You can check past airdrops here on our CoinMarketCap airdrop locate. Scroll down to “ ended airdrops ” and check all the past airdrops. You can besides check your personal airdrop history through a blockchain internet explorer like Etherscan.

Check out our guide on how to use Etherscan.

What Is an Airdrop Countdown?

Crypto protocols announce a countdown until their airdrop happens. This besides attracts people that will not receive the airdrop because they can speculate on the nominal rate. That is why airdrops are a mighty marketing tactic to build awareness for a new protocol.

Why Does My Airdrop Say Waiting?

Some airdrops are so democratic that the blockchains on which they happen get overloaded. For case, the Optimism airdrop congested the Optimism blockchain, and people could not claim their airdrop. If you are eligible for an airdrop, follow the project ’ s official communication channels for updates or plainly try again late.

Why Does My Airdrop Keep Canceling?

Crypto protocols allow you to check your eligibility for an airdrop. If a protocol announces an airdrop, it normally posts a liaison where you can check if your wallet address is eligible. If your airdrop keeps canceling, it could be that your address is not eligible to claim the airdrop. alternatively, the airdrop congests the blockchain, and transactions can not be processed. In that case, you need to try again late .

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