I remember the time when I used to have one tab on the browser where I used to claim the few tokens through faucet every 30 minutes. I remember I had claimed ethereum, peercoin, XRP, and many coins which I don't even keep track of over the years.
Then comes the content based coins like hive and steem. I managed to launch my content on the Hive and things changed from that point onwards. And I forgot about the airdrops and the coins from that point onwards. Things just changed for me over the years.
After few years the airdrop became a trend. So much so people started claiming the tokens and sold them once they are in the profit. And then there are countless reddit groups, hive communities, threads and other places opened up for the airdrop farming.
Let's discuss why Airdrops are not for you.
- Airdrops are sign that it is getting harder for the companies to launch their tokens. Think of airdrops are marketing gimmick and not always profitable investment.
- Airdrops that involve initial purchase are pure rug pull type or the coins that kind of locks you while the VC takes their money out.
- Like faucets, airdrop farming is only good for those who have plenty of times to farm, social media spam and other means through which the token companies hand over the tokens to you.
- Airdrops are hard to maintain over the years. If you have crossed 30s or 40s then life just gets in the way you kind of lose track of time and things just keep on getting worst with keeping track of complicated things like these.
- Airdrops are good for the young ones who can keep up with the changes of the token airdrop routine and also for the claiming part. Which is often complex with such tokens.
- Crypto is getting complicated and VCs make exits through meme tokens so for those who are in need of desperate money they have to be too quick to get out of this. So this may not be definitely for all.
Airdrop farming is getting trendy and also it becomes harder for the people to farm their way through the telegram channels, whatsapp and what not. So it may require a lot of patience and also one has to be really patient before selling any token that they have. So it's good to avoid them if the age, efforts and the patience you are low with.
Airdrops can make you money. They can be a good stash holder and may come in handy long term. But they are not for all. In short you have specific set of the audience that would be good for the airdrop farming.