ShapeShift has always been an interesting way to swap between different cryptocurrencies. More often than not, it has a relatively competitive rate to achieve this goal. Ever since its Rainfall service was introduced, people have begun showing a renewed interest in this concept.
The Purpose of Rainfall
At its core, the Rainfall service introduced by ShapeShift is very simple, yet quite powerful. It is a solution designed to let users earn free USDC balances every time a trade on the platform occurs. Contrary to what some may expect, users do not have to refer users to earn USDC. All rewards appear to be distributed at random, which is a rather interesting way of “airdropping” this stablecoin.
For any trade occurring through ShapeShift, users will earn small amounts of USDC. Any user is eligible to receive these rewards, assuming they are using the platform. People familiar with the concept of “making it rain” on Discord or IRC will know this concept all too well. It is a great way to earn some steady revenue without having to do anything.
One factor to take into account is how users can hold FOX tokens too. For those who missed the news, FOX is the native token of the ShapeShift platform. This ERC20 asset lets users trade for free on the ShapeShift platform. Once someone signs up and verified their account, they can earn free tokens right away.
Holding these tokens is a great way to trade without commissions, spread, or fees when using this platform. Having a FOX balance also comes into play where Rainfall is concerned. Holding a bigger balance of this token will increase one’s chances of earning more “free” USDC in a passive manner. This is a way to reward early adopters of the token, although new users can still take part in the action as well.
Decent Sums can be Earned
On average, eligible users may see random transactions of $0.2 in USDC on their account. This is not a get-rich-quick scheme by any means. It is passive revenue, for sure, but nothing too amazing either. ShapeShift has been competing with other platforms for a while now, and its trading volume is often fairly low. Users who aim to earn more USDC will need to actively recommend this platform to more people.
That being said, there have been some bigger rewards issued to eligible Rainfall recipients recently. One user even won $162 worth of USDC via Rainfall just yesterday. Additionally, there have been rewards as high as $39 and $68.84 in the past week as well. It is a bit unclear how these amounts are calculated exactly, but so far, things seem to be going rather well.
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