How I’ve Earned $10,000 for Free Just Holding Some Crypto

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Photo by RODNAE Productions

I discovered Airdrops almost by mistake. Play-to-earn games were popular last summer, and I was looking for coins with promising projects to move the games' earnings.

I started reading about the Cosmos ecosystem, and I liked the project they were building. Also, they had a good APR (11% at that moment) for their ATOM coin and around 130% of OSMO if you staked them in their Keplr Wallet. So I put in about $5,000 in both coins.

A month later, a new project called sunny gave away some of their coins to Cosmos stakers, so I received $300 in value of the new coin just by holding my cryptos.

Since then, I have received about 15 more airdrops, all with values between $200 and $2000, and all I have done is hold a portfolio from an ecosystem I trust. Here I will show you how.

How airdrops work

According to several sources, the definition of airdrop is the following:

“An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency.”

Basically, a new project starts, and to promote their business, Crypto creators give away to certain people some coins, so they know, hold or share knowledge about the project.

To be eligible to receive airdrops, you only have to hold/stake a project, and most of the time, they deliver it to you automatically to your wallet, or you only have to give a few clicks to receive them.

When you receive the coins, you can hold them (if you trust the project and think it has a good future), stake them (to receive more coins with the bag you have), or sell them for USD. There is no penalization for doing any of those things, but it is always good to read about the project's future to see if it’s worth keeping it for a while.

How I’ve earned $10,000 in the past ten months

To know which coins are best to have in a portfolio, I check Reddit forums, Twitter experts, and validator documentation. There are also pages that tell you incoming airdrops and the requirements. Then I buy the most common coins that receive the most airdrops and stake them.

I have learned that in the cosmos ecosystem, the most popular coins that almost always receive airdrops are ATOM (at least 10), OSMOS (at least 50), JUNO (at least 10), and SCRT (at least 20). So my goal is to keep growing my bag to those coins.

After knowing the dates of the upcoming airdrops, I keep checking the forums, discord, and Twitter to see the hype about that project. Normally, the airdrop coins come out at a specific price, but for the project's hype, sometimes it grows up a little more in the following days, so when I receive the airdrops, I sell them in DCA and make a list to know what projects and how much money I haver received. This is the list of the ones I got for the past 10 months:

Airdrop received — Screenshot by the author

I also leave some coins staked to support the project if I know it has a promising future (at the end of the day is free money, and you can receive more benefits in the long run). So I recommend reading the project you will receive before making a decision.

For example, OSMO and JUNO were an airdrop of ATOM, and their ATH now is $10 and $40 per coin, respectively.

Finally, make sure to always check the source of the airdrop, right now this checker has all the trusted sources so you can know if the project is trustworthy so you don’t make any delegation to dangerous places.

Takeaway

There are several ways to earn money with crypto: investing, staking, buying and selling, and airdrops. Staking your money in reliable ecosystems gives you the power not only to earn daily money from the APR but also to receive benefits from new projects that will be launched.

Knowing the power of where you are investing can help you decide to grow your investment even more in the long term, as I did with Cosmos understanding the airdrops. So always keep in mind not only seeing a dip opportunity but also all the benefits of making that investment.

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