A crypto airdrop is when digital tokens or coins are distributed, usually for free, to specific wallet addresses.
- Blockchain projects often use airdrops to promote their currency, encourage adoption, and reward existing holders.
- To qualify, you may need to complete tasks like sharing on social media or holding a certain amount of another cryptocurrency.
Using the Airdrop category
Change a Receive transaction to Airdrop to track it correctly. You can then review airdrop transactions by tax year on the Taxes page, along with your capital gains. Learn more about how airdrop transactions are taxed.