There is a famous investing that says, “It takes money, to make money.” In most financial markets that is absolutely the truth. You could be an expert in that asset category and perfectly predict that specific asset's future success or price. However, if you didn’t have enough initial capital invested into that asset, it wouldn’t have done you any good. That is true with stocks, real estate, and even cryptocurrency. If you want to become rich by investing in Bitcoin or Ethereum, you will need to buy a substantial amount. Equaling to be more cash than most people have available to spend.
With that said, the cryptocurrency market is different in many ways compared to other asset categories. While traditional spot purchasing as I mentioned before, requires a lot of cash to become successful. But the area that crypto is different from other markets is that you can actually own a piece of the network. Projects in hopes of gaining adoption and becoming more decentralized will airdrop crypto to their biggest supporters. All you need to do is participate in their network or experiment on their blockchain. Often airdrops will require absolutely no investments or cash from your side. But, other times there will be costs required to use the blockchain or perform certain tasks.
Some of the biggest cryptocurrency airdrops during the last few years have been Uniswap, Optimism, BLUR, FORTH, APE coin, Aptos, and the list goes on. Often these airdrops can be worth several thousand dollars. An amount that is a game changer for most people’s portfolios. Then taking into account how prices could soar during bull markets, results in airdrops having the chance to be life-changing for many people.
For example, let’s take a closer look at the Uniswap airdrop; which is often attributed to the project that started this most recent run of airdrop mania. To qualify for the $UNI airdrop, all you needed to do was to connect a crypto wallet to their DEX or perform a transaction. You also could have received extra coins for providing liquidity to their exchange. The base amount that most people received for simply connecting their wallet to the DEX was 400 UNI tokens. Upon launch, Uniswap's price hovered in the $4–$5 range resulting in this being a $2,000 airdrop for most people. However, during the bull market, the price of UNI soared all the way to $45. If you had perfect timing, this would have made the value of your airdrop worth $18,000. That’s not even mentioning the fact that many people had multiple wallets and received even more tokens.
The biggest news in crypto this week was the announcement of the long-rumored Arbitrum airdrop. $ARB is a layer 2 on Ethereum. The following are actions that would have qualified you to receive ARB tokens. The more items you check off the list, the more you would have received.
The airdrop tokens will begin being distributed on March 23. Arbitrum has long been the biggest project on Ethereum and that is why this airdrop has been so hyped. No one knows what the token price will be yet, but, likely, the value of this airdrop will once again be worth thousands of dollars for most people.
To bring this full circle, you don’t need to have a lot of money invested in crypto to become wealthy with it. However, you do need to be incredibly active and also will likely need to use some capital to use the project and perform certain tasks. Especially in the Ethereum ecosystem. By being active and qualifying for 5–6+ airdrops, it could be enough to make you wealthy in this market. Especially if you hold until the bull market or invest it in great projects.
One thing is certain, even if airdrops don’t make you rich, they could be life-changing and give a much-needed boost to your portfolio. Those who follow the market closely, research new projects that are rumored to have upcoming airdrops, and then participate will be greatly rewarded. There will even be opportunities that you weren’t expecting as well. Something to remember is that airdrops are not guaranteed. They may take much longer to happen or may never happen at all. For example, many people were expecting the Arbitrum airdrop to take place in late 2021, but it didn’t happen until March 2023. All-the-while the Arbitrum developers denied that an airdrop or token would ever happen.
How about you? How many airdrops have you received?
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