What's in this article
Nearly every cryptocurrency market participant has heard of the Ethereum upgrade designed to completely change the network, but too many people are missing out on ways to capitalize on one of the biggest events in the cryptocurrency industry. Bobby Ong explains how.
If you have some ETH tokens, you are automatically eligible for the Ethereum PoW token airdrop. If you hold your funds on centralized exchanges or non-custodial wallets, it is better to move the funds to a hardware wallet to gain full control.
1. To get the ETH PoW tokens, you must first hold ETH on a wallet that supports this fork.
— Bobby Ong (@bobbyong) September 5, 2022
The best would be to have full custody of your ETH on a hardware wallet. If you are holding ETH on an exchange, your exchange may or may not give you the fork tokens.
Avoid keeping Ethereum at Layer 2
While there’s nothing wrong with using Optimism, Arbitrum, and other alternative Ethereum layers, you won’t get any ETH PoW tokens if you keep your assets there.
Borrowing ETH from DeFi platforms
Investors are looking for ways to maximize their airdrop shares, so they get “cheap” ETH by putting some of their reserve funds in collateral.