Airdrops are a way to distribute cryptocurrency where coins are sent to specific eligible addresses for free. For example, in April 2018 Tron (TRX) sent an airdrop of TRX coins to Ethereum (ETH) holders. The Tron team distributed 30 million TRX tokens to Ethereum addresses, proportional to the amount of ETH held by the address.
Another main airdrop was that done by UNISWAP in September 2020 for users who did at least one transaction on or before August 30th, 2020 and was worth over 1,000 dollars for free.
Cryptocurrency projects typically create airdrops to help jumpstart a currency or exchange, raise awareness, or to reward an existing community.
Airdrops are sometimes limited by location because of legal or regulatory reasons. For example, DFINITY’s airdrop was not available to U.S. residents.
To comply with securities and money transmission laws, recipients of airdrops are often required to go through Know Your Customer (KYC) and Anti-Money Laundering (AML) verification. These verifications are typically done through third-parties like OKCoin and require the airdrop receiver to submit official identification for approval.
Most airdrops also require that you have an “active” address in order to receive coins. In order for an address to be considered active, it typically needs to have made a transaction within the last 6–12 months (or whatever time frame the project specifies). This is usually done to try to avoid sending coins to random or inactive addresses. Most airdrops allow you to use a wide range of different wallets, but it’s best to check the rules of the specific airdrop to see if any specific types of wallets are incompatible.
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