Lesson 06 · 6 min
Airdrops: free coins for showing up early
New projects hand out coins to early users to build buzz. Real ones exist, but the phrase 'free coins' is also the favourite bait of scammers. Here is how to tell them apart.
What an airdrop actually is
A new coin has no users yet. To get people talking, the team distributes a slice of the supply to wallets that used the product early, held a related token, or simply signed up before a deadline.
You do not buy an airdrop. You qualify by activity, and the coins arrive in your wallet later. Anything asking you to pay first is not an airdrop.
How people qualify
Try out a project's app before its snapshot date — the moment it records who is eligible. Small test transactions often count.
Hold a token the project rewards, or bridge and swap on a new network during its early days.
Connect your wallet to the project's official claim page when the time comes and sign the claim. Never enter your seed phrase to claim — a claim only needs a signature, never your words.
The honest trade-offs
Most airdropped coins are worth very little; a few become meaningful. Expect many duds for each winner.
Claiming on one chain can expose your main wallet to that project forever. Many earners keep a separate 'burner' wallet with only small amounts for trying new things.
Tax offices often treat received airdrops as income at market value on the day they land. Keep a note of dates and amounts.
Scam tells to ignore
Unsolicited messages about an airdrop you never signed up for. Real projects announce claims on their own official site, not in your DMs.
A claim page that asks you to send coins first, approve unlimited spending, or type a seed phrase. None of these are part of a legitimate claim.
Worth remembering
- Airdrops reward early activity — you never pay to receive one.
- A claim needs a signature only, never your seed phrase.
- Use a separate wallet for trying unfamiliar projects.