However, in order to increase
how much you can earn with airdrops,
there are some best practices that you must follow,
as well as some severe red flags that you must avoid,
because an avoidable mistake here can cost you
your entire crypto wallet,
and we're going to prove that.
So what is an airdrop exactly?
If you've never heard the word, you might be picturing
some kind of like, Navy Seal diving operation, but
it's not quite that cool.
Essentially a thanks for being a customer.
Airdrops don't happen exclusively with
tokens that launch, but it's a pretty common occurrence.
The first airdrop that started it all was the
Uniswap drop that happened in September 2020.
At the time of launch, anyone who used the
Uniswap decentralized exchange exchange at least once
received approximately 400 UNI tokens,
which was worth $1,200 at the time.
Uniswap was basically sending out
free stimulus checks.
And for a recent example, on November 3,
the ENS protocol announced that they would be
issuing $ENS governance tokens,
and 25% of all those tokens
would be distributed to eligible users through an airdrop.
ENS is a domain name service based on Ethereum.
Those who registered a .ETH domain name before October 31
were eligible to receive those free ENS tokens.
And some even received as much as six figures
from this drop.
And this made me really curious about investigating
more airdrops because who doesn't like free money?
Let's face it, the general direction of
crypto markets is bullish.
I mean, Matt Damon is doing ads for crypto.com,
- Fortune favors the brave.
- Post Malone is doing ads for NFTs now.
That's big for the crypto industry.
Anywhere you look, it appears that
and this acceleration will increase the demand
for more decentralized applications.
That means more opportunities to
earn big airdrops
and earn more on your crypto investments.
Wait until I show you one airdrop I found this week
that is enough for me to live off of
for more than a year,
and I promise it's not what you think.
We'll cover that later in this video.
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Now, here's the best practice to
increase your odds of randomly
waking up one day with some free money
landing in your crypto wallet.
So you wanna start by writing a list of
applications in crypto which don't have tokens.
You wanna find platforms or services with no native token,
the bigger the platform or service, the better
because if they launch a token,
you can be more certain that that token will do very well.
And you probably want to break this down by type.
So first you could have wallets
like MetaMask, Yoroi or Phantom,
then NFT Marketplaces like OpenSea or SolSea,
or Layer 2 scaling solutions like Arbitrum.
None of these players currently have tokens,
and they would be perfect candidates for
airdrops, and it isn't limited to that list.
You'll be able to find far more and
feel free to comment yours down below.
Now, once you have your list,
all you have to do is simply use those services.
The more you use them, of course, the better.
But it can be as simple as just having a
free wallet or a free account.
Now, one potential big airdrop that
everyone is hyping up right now and maybe
coming next year is MetaMask.
Now, I haven't been able to find
anything stating that this will absolutely happen,
but the rumors are there, the murmurs are there.
I went to Google and I typed in MetaMask token 😼
and I found a story on the first page
where the founder of ConsenSys
had something to say about this
potential MetaMask token.
(Joseph) tweeted "Wen $MASK? Stay tuned"
That's really interesting.
If it were anybody else,
I probably wouldn't give it much thought but,
this dude is one of the co-founders of Ethereum.
This is no doubt creating a lot
of hype around the speculation
of a MetaMask token.
As we demonstrated with Uniswap,
the purpose of airdrops is to
to reward early users of their platform.
Now, in order to be eligible for a Mask token airdrop,
you probably would need more than just a wallet
because they have so many users at this point.
So you could increase the odds of your
airdrop eligibility on MetaMask
by using the protocol to swap some tokens.
I'll show you what I mean by making a
transaction on MetaMask. It's super easy.
All you have to do is open the application and
click on the "Swap" button and then choose
which assets you would like to swap,
review and swap,
if you can tolerate the gas fees.
- Oh my god
- I'm never gonna financially recover from this.
- Now, of course, none of this is guaranteed.
We don't know for certain
who will have tokens and who won't.
The goal behind getting the most
airdrops possible is by spreading out our odds
and being a user of many services
who don't yet have tokens.
This is because we're not sure if MetaMask or
anyone else will end up doing a token drop.
So spread out those odds.
Now spreading out our odds brings me
to the next part of the story,
something that you need to be careful of.
and you need to understand how these scams work.
That way you can avoid them.
And because I don't want you to lose money,
So over the past several weeks,
I've been playing around with Binance
to learn more about some potential airdrops
on that chain.
And I was on an app called PooCoin,
yes, PooCoin 💩
and I noticed I had almost an entire Bitcoin
worth of airdrops, so I thought to myself,
while making a video about airdrops.
This airdrop led me to a
website I haven't heard of before called ARKR.org
I've never touched this protocol,
so the red flags were already flying.
And I go to the site,
and first I see two spots
where it says Get Airdrop.
These are calls to action
that you need to be aware of when detecting scams.
After some further research,
I found that the site is actually a
clone of another site called KCCMemepad.com
Because of this, I'm almost certain that
this ARkR site is either a
dust scam, or it will drain my wallet completely
if I interact with it.
So let's test it out.
I busted out an old laptop,
I installed MetaMask on it,
I've added some funds and now
let's scam ourselves.
So I'm going to click airdrop
and I bet that it will request
that I allow the site to interact with my wallet.
That's how these scams typically work.
All right.
Yep.
Connect.
Here goes nothing.
[Intense Music]
😨
💀
🥵
Too bad, it doesn't drain my account right away.
This would make for far better drama,
but now we wait.
And there it is. I'm officially
part of the Rug Pull Survivors Club.
We should have T-shirts made.
Now as funny as this is,
it is really a problem.
Decentralized applications need to put
better protections in place to protect
retail users from this kind of thing.
I also went on BscScan and noticed
that there were people who are trying to
trade this token with pending transactions.
Do not do that.
Now, this is scary, but it's avoidable.
If you see a random token in your wallet
not affiliated to anything you've interacted with,
It's very likely a scam.
If you're unsure, do some searching online
and see what the Internet has to say about that token.
Apart from being cautious of scam drops,
one of the most important things I learned about airdrops
is they're not always easy to receive.
I read an article about a token launch
called ParaSwap,
And I found out that the requirements to get in were
actually quite exclusive and
many people were hoping to get this PSP token
but either received nothing or a tiny amount.
So I thought this is an interesting example
and I looked into this further.
ParaSwap launched a token just a few days ago
and here are some of the tokenomics.
150 million tokens or 7.5%
of the PSP's total supply of 2 billion
will be airdropped to 20,000 early users.
Now 7% is pretty low when we compare it to
airdrops we saw earlier in this video
like $ENS.
And then I saw many people on Twitter complaining,
as people on Twitter do best,
that they either didn't qualify
or they were unhappy with the amount of tokens
that they received through this airdrop.
One guy even made a video about it.
- You know how much time
I spent on ParaSwap?
Hours and hours.
And what do I get for this?
One measly 10k airdrop.
- While this is a little bit dramatic,
he actually makes some valid points.
He says he spent countless hours on the platform
with over 200 different wallets that he used
and spent large amounts in trading fees
and received a relatively small amount.
He still received quite a bit.
So lesson learned: No matter how active
you are on a platform, it doesn't mean
you're guaranteed to get a massive airdrop
when a new token launches.
Again, this is why it's best to spread out your odds.
And finally, I want to take what we learned
in the MetaMask example,
and apply to some other applications that I'm
keeping a close eye on for potential
airdrops in the future.
One big one is Arbitrum.
Arbitrum doesn't have a token currently
and they are one of the most popular
Layer 2 scaling solutions.
If you're unfamiliar with what a Layer 2 scaling solution is,
this is basically infrastructure on the blockchain
that allows Ethereum to be faster and have
cheaper transactions.
I read that configuring Arbitrum on MetaMask
is a potential way you might be eligible
in the future for an Arbitrum airdrop,
So I'm going to show you how easy this is to do,
it's super quick.
The easiest way to do this is to go to MetaMask.
At the top, you see a drop down menu to choose
which network you wish to use.
Click it and if you see Arbitrum
in that dropdown, you can simply click that
and it will auto set up.
If you don't see it in the dropdown,
you can manually add by clicking 'Networks',
then 'Custom RPC',
and entering in these credentials.
I'll have them in the description of this video,
so you can just go ahead and copy and paste over.
Now we can can't be certain if
this will make us eligible for
future airdrop Arbitrum tokens,
but it won't hurt.
This really is a numbers game.
Find DeFi apps without tokens,
interact with those apps
and simply wait.
If you're a beginner in the space, I know understanding what
airdrops are and how to find them can seem
challenging, but if you educate yourself on the market,
stay on top of trends, and simply
brainstorm popular apps without tokens,
you will find the next big airdrop
without the help of anyone.
Now if you appreciate me scamming myself
for the sake of entertainment,
hit that subscribe button, and if you're feeling
extra frisky, go again and join my Patreon
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