Learn how to earn free crypto token by setting up xumm wallet trustlines.

An airdrop, in the cryptocurrency business, is a way of marketing a crypto that involves sending free coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. a crypto airdrop is a marketing tactic in which developers of a certain blockchain project send users tokens or NFTs for free.

XUMM is a non custodial client (wallet) for the XRP Ledger. XUMM allows you to interact with the XRP Ledger and 3rd party tools while keeping your keys safe.

The XRP Ledger's Authorized Trust Lines feature enables a currency issuer to limit who can hold its issued (non-XRP) currencies, so that unknown XRP Ledger addresses cannot hold those currencies.

Issued currencies in the XRP Ledger often represent value held by gateways in the world outside the XRP Ledger.

The claim process differs from project to project. Some “holder drops” will drop tokens automatically into the wallets of users who own a specific coin or drop coins or tokens into a TrustLine wallet.

Airdrops are free tokens that you are eligible to receive as a result of being an early adopter of a cryptocurrency project and for promoting the project. Some are surprises. For example, Uniswap airdropped 400 $UNI tokens to early users of the Uniswap exchange.

The IRS has not issued any direct guidance on airdrops sent to early adopters of a project. It is reasonable to think that such airdrops are unsolicited property for tax purposes because the recipient doesn't have any prior knowledge about the airdrop.