Here’s How to Take Advantage of Ethereum Merge: CoinGecko Co-Founder

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Arman Shirinyan

Every­one knows about it, but almost no one knows how to take advantage

Almost every cryp­tocur­ren­cy mar­ket par­tic­i­pant has heard about the upcom­ing Ethereum upgrade designed to change the net­work com­plete­ly, but far too many peo­ple are miss­ing out on the ways to take advan­tage of one of the biggest events in the cryp­tocur­ren­cy indus­try. Bob­by Ong explains how.

PoW tokens

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

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

Avoid keeping Ethereum on Layer 2

While 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 hap­pens, you can move your funds to any hard­ware wal­let or an exchange that sup­ports a PoW fork, claim your tokens and then move your funds back.

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Borrowing ETH from DeFi platforms

We are already see­ing a mas­sive spike in the vol­ume of plat­forms like AAVE or Com­pound that offer ETH for col­lat­er­al. Investors are look­ing for ways to max­i­mize their air­drop share, which is why they are get­ting “cheap” ETH by putting some of their spare funds into collateral.

Tech­ni­cal­ly, it is a more con­ve­nient way of receiv­ing tem­po­rary expo­sure to Ethereum if your main goal is to get as many PoW coins as you can.

As for now, less than 10 days remain ahead of the mas­sive update for the Ethereum net­work, and it is expect­ed around Sept. 13.



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