Almost everyone in the cryptocurrency market has heard of the upcoming Ethereum upgrade designed to completely change the network, but far too many are missing out on the wherewithal to take advantage of one of the biggest events in the world. cryptocurrency industry. Bobby Ong Explain How? ‘Or’ What.

jail tokens

If you have ETH tokens, you automatically become eligible for an Ethereum PoW token airdrop. If you hold your funds on centralized exchanges or non-custodial wallets, it would be best to move the funds to a hardware wallet to take full control of it.

1. To get the ETH PoW tokens, you must first hold ETH on a wallet that supports this fork.

The best would be to have full custody of your ETH on a hardware wallet. If you hold ETH on an exchange, your exchange may or may not give you the fork tokens.

— Bobby Ong (@bobbyong) September 5, 2022

Once the hardfork happens, you will be able to get “free” PoW tokens which you can hold, sell, transfer or do whatever you want with them.

Avoid keeping Ethereum on layer 2

Although there is nothing wrong with using Optimism, Arbitrum and other alternative Ethereum layers, you will not get any ETH PoW tokens if you hold your assets there. Until the merger occurs, you can move your funds to any hardware wallet or exchange that supports a PoW fork, claim your tokens, and then move your funds.

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Borrow ETH from DeFi platforms

We are already seeing a massive increase in the volume of platforms like AAVE or Compound offering ETH as collateral. Investors are looking for ways to maximize their airdrop share, which is why they get “cheap” ETH by putting some of their reserve funds as collateral.

Technically, this is a more convenient way to receive temporary exposure to Ethereum if your main goal is to get as many PoW coins as possible.

For now, there are less than 10 days until the massive Ethereum network update, and it is expected around September 13th.