How do I manage airdropped tokens in Exodus?
Exodus's position on airdropped tokens and how to deal with them, and some popular networks for airdrops.
In this article:
- What is an airdrop?
- Does Exodus support airdrops?
- How do I stay safe when accessing airdrops?
What is an airdrop?
An airdrop is a free distribution of crypto assets on a set of blockchain addresses. Companies and protocols airdrop tokens as a way of marketing their new token.
There are no fixed rules regarding who may receive airdropped assets – each company defines the parameters of its airdrop.
In most cases, there is nothing to do on your side to receive an airdrop. A token distributor does not need anything other than your blockchain asset address to airdrop tokens.
If you know an airdrop is going to occur, the first thing you'll need to do is to check the distribution rules. Who will receive the tokens? How many tokens will be distributed? Is there a registration process? When will the snapshot occur?
Some airdrops are scams or phishing attempts, so it's a good idea to thoroughly research any airdrops you wish to claim.
Does Exodus support airdrops?
In general, Exodus does not support airdropped tokens. However, you will always be able to access airdropped tokens by importing the asset's private key into a wallet that supports the airdrop.
Exodus has criteria for listing an asset so newly created forks and airdropped coins will probably not be supported at launch. This means that any airdropped tokens received at your address will not display in your Exodus wallet.
In order to access and manage airdropped coins, you would need to import the associated private key into a wallet that supports the airdrop. If a wallet does not support importing private keys, you would need to import your 12-word secret recovery phrase.
Please be very careful with your 12-word secret recovery phrase and private keys, because they control access to your funds. Never share them with anyone, and only import them into platforms that you trust 100%. If you choose to import your 12-word phrase or private keys into a third-party platform, you do so at your own risk. To find out more, check out this article from our Knowledge Base: How do I keep my money safe?
How do I stay safe when accessing airdrops?
We advise moving any assets that have scheduled airdrops out of Exodus and into a supported wallet before the airdrop snapshot.
After the snapshot has occurred, your assets can be moved back to Exodus. This allows you to participate in an airdrop while keeping your Exodus wallet safe.
You can still access your airdropped coins after the snapshot has taken place. You can do this by importing either your private key (preferable) or your 12-word secret recovery phrase (only if necessary) into a wallet that supports the airdropped token.
In order to avoid any risk to your funds, you can follow these safety precautions:
- If the third-party wallet supports importing a private key, then we recommend you first move all of that specific asset into a new Exodus wallet or portfolio, then import the asset's private key.
For example, if you receive an airdrop to your Cardano (ADA) address, first move all your ADA into another wallet. Then you can safely import your ADA private key into a third-party wallet without compromising your funds.
- If the third-party wallet only supports importing a 12-word secret recovery phrase, then we recommend you permanently move all of your assets into a new Exodus wallet.
After your assets are safely in a new wallet, you can then import your 12-word phrase into another crypto wallet without compromising your funds.
If you would prefer to leave your tokens in Exodus, there is nothing wrong with storing airdropped or forked coins in your wallet. You are in full control of your private keys and 12-word phrase. If the tokens end up being valuable, you can access any tokens you've received at a later date.
Assuming you qualify for an airdrop distribution, the airdropped token will be sent to your ETH address but you will not see it in Exodus. The token will be stored at your wallet address. For Ethereum-based (ERC20) assets, you can confirm your token balance on etherscan.io by pasting in your ETH address and checking the token transfer drop-down.
In order to access an airdropped asset on the Ethereum network, you will have to import your ETH private key into a wallet like MetaMask to be able to see and interact with your tokens. Here is a good guide.
For more information about the FOX token airdrop, please check out this Knowledge Base article.
Some EOS airdrops may have occurred on the Ethereum network before EOS swapped to its own mainnet. In this case, you would see the token on Etherscan as explained above. Assuming you have registered your EOS address prior to the mainnet migration, you will receive EOS tokens in your EOS account. You can find airdropped tokens on EOSpark.com by pasting your EOS address or account name and looking at the drop-down.
In order to access an airdropped token, you will have to use a dedicated EOS wallet able to support the token.
TRON launched its own blockchain network in mid-2018 which supports airdrops. Any airdropped tokens that you qualify for will be received and stored at your Exodus TRON (TRX) address. However, since Exodus does not support custom TRON tokens, you will not be able to manage them in Exodus.
You can access TRON airdrops by importing your Exodus TRX private key into a wallet that supports the airdrops, however, you do so at your own risk. Most airdrops are worth very little and often not worth the risk of exposing your private keys.
You can find dedicated TRON wallets on the TRON website here.
For more information on eligibility for XRP-related airdrops, please see our article about the Flare network. Please note that since Exodus doesn't support custom XRP tokens, you will not be able to manage them in Exodus.
Moreover, the Flare network and the XRP network are totally different technologies and blockchains. Nevertheless, due to their relationship with each other, you were able to register your XRP address to receive your Flare network Spark tokens. The registration of other airdrops, such as Sologenic, is not supported and can not be completed with your Exodus wallet.
ATOM holders and stakers who qualify for any ATOM-related airdrops will receive the airdropped tokens directly to their ATOM receiving addresses in Exodus. While Exodus currently doesn't support ATOM-based tokens, you can always export your ATOM private key into a wallet that supports the specific tokens you're looking to claim.
There are various airdrops that eligible ATOM holders and stakers can claim. It's important to research the eligibility requirements for the specific airdrop you're looking to qualify for.
It's worth noting that Cosmostation is one wallet that's widely used for claiming ATOM-related airdrops.
For a list of dedicated ATOM wallets, please click here.
ADA holders who qualify for any ADA-related airdrops will receive the airdropped tokens directly to their Cardano address in Exodus. While Exodus currently doesn't support ADA-based tokens, you can always export your Cardano private key into a wallet that supports the specific tokens you're looking to claim.
Adamantium is an easy to use Cardano web-wallet you can use to claim your ADA airdrops.
There are various airdrops that eligible ADA holders can claim. It's important to research the eligibility requirements for the specific airdrop you're looking to qualify for.