What wallet should you use for Selfdrops?
You can NOT use an exchange wallet (like Coinbase or Binance). Instead, you must use a self managed or decentralized wallet, like Metamask, Trust Wallet, Safepal, etc. I use both Trust Wallet and Metamask and have had great success. This is typically a wallet where you have the seed phrase or private key in your possession. If you had to pass KYC (think submit copies of government issued ID), then that platform won’t work for Selfdrops.
- You will want to create an airdrop specific wallet that is separate from whatever wallet you use for long term crypto investing (hodling). It is considered a good practice to keep your most valuable assets safely separated from these for many reasons.
- The blockchain is public – your social media accounts and such can often tie to airdrop activity, meaning anyone can know the value of the wallet used for your airdrop activity
- The more you use a wallet and connect to it, the greater the likelihood you might accidentally fall for a scam or fraud attempt on that wallet – keeping multiple wallets can reduce possible losses from scams/fraud when done properly (but it also means you have more private keys/seed phrases you need to keep secure).
- You will need to set your gas higher than 150,000 – I usually go more than 200,000. Smart contracts require more gas than simple transfers.
- You will need BNB in your BNB wallet to cover gas fees before you can send 0 BNB (this is also true of HT for Huobi tokens, SOL for the Solana tokens, ETH for Ethereum tokens, and every other blockchain)
How can I make sure this Selfdrop is still active?
To verify this selfdrop is still running, you need to look at the public blockchain info – which may sound more daunting than it actually is.
- Copy the contract address we’ve provided you (on our site, most contract addresses will already link to a blockchain explorer for that token)
- If you were told to send 0 BNB, it’s on the Binance Smart Chain and you go here
– or –
If you were told to send 0 ETH, it’s on the Ethereum blockchain and you go here
- In the search box, paste the contract address and hit enter
- Click on the last transaction id that sent 0 BNB or 0 ETH
- If it has a red exclamation mark and a status error that says something like “execution reverted”, then this Selfdrop is probably dead (if it says “out of gas”, see if any recent 0 BNB/ETH transactions were successful.)
– or –
If the last 0 BNB/ETH transaction was successful, you can click on the From contract, then click on BEP-20/ERC20 Token Txns and see if they have received the expected tokens in their token transaction history (typically one of the most recent transactions) – in this case, the Selfdrop is likely still live.
How can I avoid scams?
- First off, no one benefits from you sending 0 BNB or 0 ETH to a smart contract, but mayve you. Always make sure you are sending 0 BNB/ETH.
- Always check the public blockchain data: go here for 0 BNB Selfdrops or go here for 0 ETH Selfdrops
You can search for the contract address and make sure it’s coming up as a contract address and click into the token tracker and ensure its recent transactions mostly correspond to the expected selfdrop.
What are Selfdrop Airdrops?
Selfdrops are airdrops where you receive the tokens by sending 0 BNB or 0 ETH from a decentralized wallet (i.e. Metamask or Trustwallet) and receive the tokens within minutes. The only fee you pay is gas fees for the transaction, but the token creator receives none of those fees. As with all crypto, do your own research (DYOR) and realize every token could be a total flop or the next Bitcoin – but many will fall somewhere in between.
There is a cost with most Selfdrops – but limited to the gas fees for triggering the smart contract – usually between $0.15 and $0.30 for 0 BNB transactions and way too much ($25-75) for 0 ETH transactions.
NOTE: The token may use the same contract to sell tokens, so don’t be surprised if you see other transactions where people are sending more than 0 BNB/ETH and receiving more than the advertised number of tokens. That is not abnormal and not a sign of this being a scam or anything. They are just attracting investors.
What are Almost Airdrops?
Almost Airdrops are airdrops where you receive the tokens by sending a small amount of BNB or ETH (typically around 0.002 BNB) from a decentralized wallet (i.e. Metamask or Trustwallet) and receive the tokens within minutes. As with all crypto, do your own research (DYOR) and realize every token could be a total flop or the next Bitcoin – but many will fall somewhere in between. You are technically spending crypto and the contract holder is receiving crypto (for standard selfdrops, the token’s contract holder isn’t receiving anything).
Additionally, typically around 30% of the BNB you send is sent to your referrer (for our links, that’d be us who’d receive the referral bonus from your use of our links). This incentivizes platforms to promote these because they get not just the referral tokens, but BNB, a more solid, valuable, and usable coin. We have chosen to list these, but we always try to make clear that there is a cost and keep them separate from standard airdrops and standard selfdrop airdrops.
There is a cost with all Almost Airdrops – which means you are taking on increased risk of fraud like rug pulls and such. The token could theoretically be stronger, because there is an increased amount of BNB available for liquidity. This is the crypto universe – you are responsible for participating or not and for doing your own research. Many projects will fail, you’ll save some crypto if you only invest in the ones most likely to succeed.
NOTE: The token may use the same contract to sell tokens, so don’t be surprised if you see other transactions where people are sending more than the initial BNB/ETH amount and receiving more than the advertised number of tokens. That is not abnormal and not a sign of this being a scam or anything. They are just attracting investors, which could be healthy for the token.