Why you need airdrops

Eirdrop is a free cryptocurrency giveaway, and more often than not you need to do something to get the coins. In the aforementioned case, UNI went to early users of the platform, meaning anyone who interacted with a smart contract before a certain date.

Why are developers giving away coins in the first place? Mostly it’s for building and expanding the community. For example, the same UNIs allowed voting on the further development of the decentralised exchange Uniswap, i.e. acting as so-called havernance tokens. So in this case, the crypto-asset became not just a tool for speculation and possible earnings, but an asset with real value. At least in the context of the Uniswap platform.


Sometimes developers promise to give away coins in the future - again, for doing certain things. For example, a couple of months ago I was among the first to provide liquidity to Syscoin-based decentralised exchange Pegasys, as its creators announced the launch and distribution of a native token.

Spoiler: the money made wasn't even worth the minute spent getting to know the "improved" Syscoin virtual machine . Also, you have to wait a few minutes for a swap there, as the blocks on the network are very slow. How is that even possible?


Pegasys decentralised exchange interface

Fortunately, airdrops are continuing even now. Right now, cryptocurrency exchange YoBit is running a free distribution of Fast Dollars (FUSD), that is, “fast dollars”. To get them, all you need to do is register on the platform and perform elementary tasks. The latter are sorted out below, so even people unfamiliar with coins can claim the bonus.

What is YoBit

To begin with, let’s introduce the YoBit exchange to newcomers to the crypto sphere in the last few years. The YoBit exchange has been operating since 2014 and has never been hacked, which means it has managed to make a name for itself. Despite its decent age, it has plenty of relatively new features from the digital asset world. In particular, the platform supports stacking, coin farming, swaps and more.

YoBit is also one of the few crypto platforms that allows trading without limits and restrictions to those who have not passed the KYC procedure, i.e. showing their own credentials. In addition, the platform supports fiat deposits and withdrawals to Russian-language payment systems.

According to Coingecko, trading volumes on YoBit have reached the equivalent of $172 million in the last 24 hours. The platform has almost 400 supported coins and thousands of trading pairs. In addition, there are frequent contests to earn start-up capital.

YoBit exchange statistics from Coingecko

How to get an airdrop from YoBit

Let’s move from theory to practice. YoBit Airdrop allows you to get Fast Dollars for completing tasks. We plan to start selling the coins in the summer of 2022, so there is still time to earn them.

Is it realistic to do? Yes, it is. Here’s a list of tasks that will earn assets.

List of tasks for YoBit airdrop

And the second part.

The second part of the tasks for YoBit

That means that we are talking about trivial actions like depositing coins, posting to social networks and making trades. There are also more complicated tasks – such as providing liquidity – but we will explain this topic in detail.


The logic of working with tasks is simple: click "Execute" opposite the desired task, read the terms, perform the task, then return to the same menu and click the confirmation button. Note that bonuses are awarded one week after checking. However, since trading in "quick dollars" is not yet available, this should not be a problem.


The first task is to register on the exchange. There is no need to show documents and bank statements, so click on the link and choose a password. By the way, the prospect of bonuses looms even on the registration button.

Button to register at the exchange YoBit

Next, everything is simple: enter your name, email address and password. In the case of captcha re-write not the entire combination, but only the highlighted letter.

Registration on the exchange YoBit

The next step is to confirm your email. To do this, follow the link inside the letter. And at the same time, pay attention to the security warnings.

Letter for completing registration on YoBit

Then watch the introductory video, remember to connect two-factor authentication and read the tasks for the airdrop we have already published above.

Confirming YoBit registration

At the same time, confirm registration by clicking the appropriate button opposite this task. You also need to click on “Verify and get my 300 Fast Dollars”.

Fulfillment of the first task for YoBit airdrop

You will receive an approval in response.

Job completion confirmation on YoBit

Note that the registration task is now marked as completed. It’s about the “All done” caption.

Updated task list for YoBit airdrop


Keep in mind this principle of completing tasks. Do the job - confirm completion - wait for the money.


Ideally, you should run a bot to receive notifications, which will also increase the security of your account. To do this, follow this link.

YoBit account activation link

We will be redirected to Telegram – here you just need to select the language.

Interacting with the YoBit bot

Now let’s move on to the second task – interacting with the Telegram bot. To do this, click “Execute” and, once again, follow the received link. This task is a little more complicated: you need to specify the email address you used to register.

Telegram bot for the task on YoBit

In response we will receive a code that must be entered on the job completion report page – that is, on the exchange.

Entering the code for the task on YoBit

Have you entered the code you received? Excellent, it means you have confirmed one more job. This will be notified by the same green notification.

Confirming another YoBit job

By the way, there is a new addition to the overall list of accomplished tasks. We now have two completed tasks.

Updated task list on YoBit

Not all of the tasks involve working at a computer. For example, a QR code task requires you to print and stick it in a public place. Then we take a photo of the work done and don’t forget to share the photo. Here are the conditions of the task.

A QR code task for an airdrop from YoBit


The QR code should be placed in a crowded place, but we recommend that you do it at least when it is not crowded. Still, the idea of revealing your crypto connection to strangers is dangerous enough - just in case.


How to send cryptocurrencies to YoBit

Congratulations, we’ve made it to the deposit task. For that we will get as much as 700 FUSD.

Deposit task for YoBit airdrop

If you are familiar with cryptocurrencies, there should be no problems at this stage. That said, the deposit address is hidden in a rather unobvious place: a block in the top left corner of the site’s main menu called “Balances”. To get the address, click on the plus icon next to the desired cryptocurrency.

YoBit exchange balance replenishment window

In our case it is Tether USDT based on the Tron network.

YoBit USDT top-up address


Note that in trading on YoBit, USDT staplecoins in the form of ERC20 and TRC20 tokens are not equivalent to each other, as is usually the case on cryptocurrency exchanges. This means that there are separate trading pairs for them, which can cause some inconvenience. An option to solve this is described below.


Here is our deposit.

Deposit USDT on the YoBit exchange

By the way, the bot does report about deposit. It is convenient.

Notification from bot about deposit

Next, of course, we report on the completion of this task. The green notification is already traditionally pleasing to the eye.

Fulfillment of the next YoBit eirdrop task

The increase in balance can be seen in the already mentioned block. Here is our 100 USDT.

Replenish balance on exchange YoBit

Remember we mentioned the differences for the exchange in the form of different standard and blockchain steblecoins? The ERC20 token for USDT is the more popular option, meaning it supports more trading pairs. However, USDT usually translates in TRON and Solana blockchains, as the fees on these networks are much lower than on Etherium.

What to do in such situation in case of YoBit? I decided to swap USDT TRC-20 into bitcoins and then use BTC to buy USDT in ERC-20 format. Spoiler: this will be needed to provide liquidity a bit later, so keep this scheme in mind.

Here is the cryptocurrency exchange window. It’s on the same home screen, and you can pre-select a coin pair on the left side of the screen.

Swap window on the YoBit exchange


Swap is the procedure of exchanging one cryptocurrency for another without the use of fiat currency. It is characteristic of decentralised exchanges, as this is what traders do there. It is important to note that in this case, transactions are made at the market rate. There are often no limit orders on decentralized exchanges.


This is how the USDT Bitcoin swap was executed.

Confirming the swap on YoBit

As I already noted, then I exchanged received BTCs for USDT of ERC-20 standard – but already by regular trading via order stack on the same page.

Trade window on YoBit


This kills two birds with one stone: you can swap in the DeFi Market and do a simple trade. And this is a whole two jobs for eirdrop at 900 FUSD each!


How to farm on YoBit

What about the 1,100 FUSD shuffle? Yes, we’re talking about farming or so-called providing liquidity. YoBit even has a separate tab for this block.

Liquidity pools on the YoBit exchange

But before we get to it, we need to understand the essence of farming.


Explanation. DeFi-farming is a component of the decentralised exchanges already mentioned. In their case, liquidity, i.e. coins for transactions, does not appear out of thin air: they are provided by regular users. In other words, they share their cryptocurrencies so that anyone can go to the trading platform and make the exchange they want using the crypto provided. In return, the liquidity providers - also called farmers - receive a percentage of each transaction.

The more of these farms, the better for the decentralized exchange, because the assets on it will be more liquid. This means that users will be able to go onto the platform and exchange assets at roughly the exchange rate that is listed on it. In other words, more cryptocurrency provided by farmers allows for more different transactions.


It is important to understand that decentralised exchanges do not aggregate buyers and sellers in a stack of orders, as conventional trading platforms do. Nor do they determine the price of an asset based on the activity of buyers and sellers. Instead, they use a constant equation of x * y = k.

Here x and y act as the number of tokens in a particular trading pair – for example, Bitcoin and USDT. The variables stand for the available total amount of coins provided by liquidity providers, also called a liquidity pool. k is the constant maintained by the exchange.

This equation uses the balance between x and y tokens on the platform. Every time someone buys a coin X for Y, the amount of remaining cryptocurrency X on the exchange decreases as the buyer takes the coins they bought for themselves. And because there must be a balance in the equation, the decentralised exchange automatically increases the value of asset X. Y, accordingly, decreases in value relative to X.


The logic is simple: there is less of the first asset on the exchange, so it has become more valuable. At the same time the value of the second asset, for which the first one was bought, has increased. Therefore, to balance the equation the exchange increases the value of the first asset and decreases the price of the second.


The theory was difficult? Nothing, practice will help you to absorb it.

Because of the need to balance the equation, liquidity is provided in the pair – that is, in two assets – which will be traded. Moreover, the amount of liquidity provided must be equal to each other.


For example, you want to pour 0.5 BTC into liquidity. But half of bitcoin is not enough here, because we also need to add the equivalent of that amount in another cryptocurrency from the trading pair.

If we choose the notional BTC/USDT pair, we need to add not only 0.5 BTC but also its equivalent in USDT. If Bitcoin is estimated at 30 thousand dollars, we give 0.5 BTC and 15 thousand USDT to the liquidity pool. Again, the equivalent of the coins within one trading pair must be equal to each other - because then the exchange will be able to maintain a balance in the mentioned equation and maintain fair price of assets.


To illustrate, let’s choose the mentioned pair of Bitcoin and USDT on YoFarm page.

Pool for farming in BTC-USDT pair on YoBit exchange

And now we find the add liquidity window.

The window for adding liquidity on the YoBit exchange

As a reminder, you have to add an equivalent amount in two coins. In this case I clicked on balance in BTC to use it to the maximum. But here’s the trouble: this amount in Bitcoin translates to 28 USDT. And in my account, as you can see, if only 27.5 ERC20-dollars.

Adding liquidity on the YoBit exchange

So we click on the balance in USDT and use them together with a slightly smaller amount of BTC that we have in our wallet. We confirm the transaction and add liquidity. The transaction has gone through.

Confirming adding liquidity on YoBit

Checking for liquidity – yes.

Added liquidity on YoBit exchange

Earnings will be indicated in the relevant menu. At first, of course, it will be zero.

The window for earning liquidity on the YoBit exchange

However, after a while your balance will start to grow. Why? Because we provide liquidity – i.e. coins for other people to make transactions – and get commission from every transaction.


That's right, it's passive income. Well, you can make money on farming - especially if the prices of the two assets are relatively stable.


Here is our income.

Income for providing liquidity on the YoBit exchange

It should be noted that you will be able to claim reward for farming in FUSD only after 24 hours of this activity. Details will be described in the relevant bug.

To qualify for the relevant task on the YoBit exchange you have to farm for less than 24 hours

How else to get FUSD from YoBit

Tasks, as you can understand from this list, is more than enough. And they are designed for people with different hobbies. For instance, do you like to record commercials? Great, you can earn 1400 FUSD for it. Here are the conditions.

YouTube video assignment at YoBit exchange

There are other tasks too: for example, you can publish a post about airdrop on social networks. Yes, it’s easy, but it will bring you money.

Congratulations, theory and practice review passed. If you need to retrieve all the information you’ve learned, a video from Coin Post will help.

Here is a clip by Ilya Ognevy for a change.

Conclusions and recommendations

YoBit is a well-known exchange that has been working for a very long time. Over the years, it has managed to gain a reputation as a platform that is generous with bonuses. Here are, for example, comments from YouTube users.

Expectation of a large-scale airdrop from YoBit by the community

We have at least a month before FUSD launches, so there is enough time to do the tasks. And if you put a lot of effort into fulfilling them, the amount of bonuses may be great. So, let’s perform the tasks and share our impressions in our Telegram chat.