What is XUMM? | What you need to know about XUMM Airdrops

What is XUMM? I was actually quite surprised to know that you can get free cryptocurrency tokens for free through XUMM airdrops! And it’s surprisingly a legitimate one!

But when I investigated further, I found a few points which you may want to consider before diving in.

What is Xumm Airdrops featured image

XUMM Wallet Review Summary

Product Name: XUMM

Company Owner: XRPL Labs

Products and Price:
XUMM Wallet- Needs 10 XRP to use (refundable when you delete your account)
Trustline- Needs to 2 XRP to set out a trustline for an XRPL token, refundable when you delete the trustline

For a total of 20 XRP to start

Recommended: Only recommended for those who believe in the potential future of XRP

Overall Rating: 32/100

What Is XUMM About: XUMM is a wallet created to store, acquire and monitor XRP transactions and tokens or a user.

Summary: XUMM is an XRP wallet where you can use it to trade, acquire token airdrops from other XRPL tokens and send and receive XRP tokens. XUMM airdrops and XRP trading is only recommended for those who have previous experience with cryptocurrency trading and those who are willing to risk their funds because XRP’s future value is still a little shaky due to the SEC and Ripple Labs legal battle.

What is XUMM About?

XUMM is a wallet for XRP and other XRPL tokens where you can choose to send/request XRP tokens, monitor your XRP transactions, acquire other XRPL tokens and even trade your XRP to different currencies. As with other cryptocurrency-related articles that we have, let’s go over the different terms that we may encounter so you can have a full grasp of the platform.

What is Xumm Airdrops website download

What is XRP?

XRP is the native cryptocurrency token of XRP Ledger, the blockchain made by Ripple Labs (or simply Ripple). You may think of it as the “Ethereum of the Ether blockchain”. So basically, XRP is used as the currency of the XRP Ledger.

XRP Ledger’s initial goal with XRP was to simplify and currency conversions to quickly process payments from one fiat currency to another. Here’s why: for example you want to send 32 Australian Dollars to a less popular currency. Usually, banks or other payment exchanges would not convert it straight to the other currency. They would first convert it to USD before it will be converted to the other currency.

Ripple wanted to solve these extra steps and extra fees by simple letting the sender convert the Australian Dollars to XRP, and when the recipient receives it by 3-5 seconds, they can now then convert it to their own currency. This would save a lot of time and fees, right?

But late in this article, we’ll address why there is a question, “is XRP token a scam?”

XRPL Tokens

So basically you can create your own XRPL token (just like how you can create other tokens on the ETHEREUM, SOLANA and POLYGON network) where your main conversion point is XRP. For example, you want to create an “Example Token”. For people to be able to use your token they need to have XRP first before they can acquire your token.

Now, why do you think people create tokens? Some tokens are created as a joke, some have actual uses (like integrated into an application) and some are created to scam other people. One good way to spot scam XRP tokens is to look at the issuer’s address. An issuer address offering different XRP tokens could mean that they can pull their assets off anytime after they have milked or conned people into buying their scam coins. This happens not just in the XRPL but also in other major blockchains.

But XUMM has integrated a new feature where addresses can now opt to be KYC (Know-Your-Customer) verification where an XRP address can be fully associated with a person as they have complied with the stringent requirements to be verified.

Now, why is this important? A KYC verification can be a good indicator as you can check out the XRP address first before transacting with it. Especially for big money transactions or an address that is supposedly claimed by a business.

This is also important if you’re looking into doing the next part which is XUMM Airdrops.

XUMM Airdrops

I actually found out about XUMM when my brother told me about it. He mentioned that he was able to get free XRPL tokens for free! He called it airdrops. So what is it really about?

XRPL allows newly created tokens to acquire users by giving away free tokens to people. How do they do it? What are XUMM airdrops?

In XRPL, a created token should have an issuing address. This is the address that gives out free tokens. People can set up what they call a “trustline” to the issuing address receive the free coins. Sounds easy right?

But setting out a trustline requires 2 XRP, the good thing is, if you then decide to trade out the tokens you have received, you can get back the 2 XRP that you spent for the trustline. So basically, through XUMM you can get free coins and get everything you spent for the trustline back.

Neat right? But what’s the catch? Are XUMM airdrops really a good thing to invest in?

Well the thing is airdrops or free tokens are given variably to users:

  1. Some token airdrops are only for a specific number of trustlines
  2. Some airdrops have the what they call a snapshot date. You need to set out a trustline before their snapshot date to be eligible for the drop.
  3. Some airdrops require a number of purchased tokens from the issuer to be eligible. For example, to be eligible for the airdrop of 100 Example Tokens (or $EXAMPLE), they require owning 32 $EXAMPLE. So through your own XRP, you need to buy 32 $EXAMPLE, and it’s not refundable like the trustline.
  4. Some token drops are only given to users who have previously recieved tokens from them (meaning to say the users didn’t trade out their received tokens and held it out for a long time in their XUMM wallet)

So later in this article, we’ll discuss how you can best find Airdrop Schedules if you want to try getting XUMM airdrops. In this XUMM wallet review we’ll cover all bases so we can weigh if it’s truly worth your time and resources.

What is Xumm Airdrop free coins

XUMM wallet Review- What does it offer?

XUMM wallet offers XRP token holders a means to store, request and transact with other XRPL tokens. XUMM wallet offers users an easy way to receive free XRPL tokens through XUMM Airdrops. While it does sound easy and promising, it also has costs that you may need to cover first before using it.

First, you need to have a minimum of 10 XRP to start. This 10 XRP is refundable when you delete your account. Next, to be able to get free coins, you need to have 2 XRP for every trustline that you set. This means that you need to have at least 20 XRP to be able to activate your XUMM wallet and be able to set out 5 trust lines.

Can you Make Money with XUMM Airdrops?

As I looked at it, I realized that you need to set out about 10 -15 trustlines before you can have actually profitable airdrops. But the thing is, even if you get like 500,000 tokens from an airdrop of let’s say $EXAMPLE, this doesn’t mean that it’s actually valuable because sometimes 500,000 tokens are only equivalent to 1 XRP. It depends on the actual trading value of a token.

A token that is used or integrated into an application is most likely one that may accumulate value over time. But tokens without actual use, like meme coins or rug pull coins can easily claim that they would give out free tokens but would also require purchasing tokens from them. These meme coins and scam coins can easily deplete in value as it doesn’t have any use (therefore no means of circulation) and scam coins can be easily sold out by their issuer (basically only used the free token to attract people to crowdfund before pulling the rug).

I believe that the best way to earn from XUMM airdrops would be setting out trustlines and keeping trustline of the tokens that give out free airdrops to HODLers (those who don’t quickly trade airdropped coins) and don’t require users to purchase from them. Why? Because purchasing an XRPL coin that you’re not sure if it’s actually legit may cost you XRP that is non-refundable. Remember that only the 10 XRP from wallet activation and 2 XRP from every trustline you set is actually refundable to you.

It’s really not easy to know which coins are legitimate ones, so the best bet would be to only be setting out trustlines and not purchasing anything further. My brother told me that he once held on to a trustline for about a year now and just recently he received an airdrop of about $700 of a token! But as with every instance, there is no guarantee that it can happen to you or to me. Here are the reasons why:

  1. You may find it hard to look for trustlines that are actually giving out coins, and mind you it has to be before their snapshot date.
  2. You may get impatient waiting out for another airdrop that you may sell out your coin, which is sometimes needed for next airdrops of the same trustline.
  3. Token value of some XUMM airdrops are way too little and there seems to be no point in holding it for long especially if it has no use.
  4. There still is the SEC vs Ripple case ongoing that is currently affecting the XRP community

SEC Versus Ripple Saga

The Securities and Exchange Commission has an ongoing case versus Ripple which started last December 2020. This was rooted from SEC’s view that XRP is not as decentralized like Bitcoin and Ethereum because Ripple owns much of the coin supply and that they have a hand on the validators (or what they call their Unique Node List) they put in place to validate transactions.

This video below explains the best what you need to understand about XRP, and the SEC and Ripple case:

So there, let’s sum it up:

1. Although XRP was created to be an open source token, the system by which it circulates is not as decentralized as the the other major currencies.
2. While XRP’s price can be affected by its users, it can also be regulated as Ripple owns much of its supply. Plus owners can opt to sell their tokens if they choose to.

But here’s another video about the Unique Node List just to give you a good view on the level of security of their Uniques Node Lists system:

How to Set Up XUMM Wallet

  1. You need to first acquire XRP. For beginners the most secure and easiest way to get XRP is through Coinbase because you only need to sign up for an account then connect your card to convert your fiat currency to XRP.
  2. You download their application straight from the Google Playstore or through Apple Store. Or you can go to https://xuum.io to get the links to download it.
  3. Make sure to follow the steps and secure your security phrase on somehere that you can easily retrieve but that is also secured from public viewing.
  4. Send your XRP from Coinbase to XUMM through the following this is the instruction from XUMM’s website:
a. Open your XUMM app, and tap and hold your account address (r...) and Copy your account address
b. Switch to the Coinbase app, select Portfolio
c. Tap your XRP Wallet
d. Tap the "Send" (paper plane) icon on the upper right corner
e. Enter an amount to send to XUMM and tap Continue ⚠️ Please note: if your XRP Ledger account (managed with XUMM) has not been activated, send at least 10 XRP
f. Paste your XRP Ledger account (managed with XUMM) address copied in the first step in the To field.
g. Preview your transaction
h.Select Skip XRP Tag, this is not required for XRP Ledger accounts managed with XUMM
i. If the Coinbase client shows a field Memo, please enter any random number there when sending to your own XRP Ledger account managed with XUMM. j. You may get an error message that the destination account is invalid otherwise.
k. Tap Send now
l. Your XRP will arrive in your XRP Ledger account managed with XUMM shortly 🎉

How To Create XUMM Trustline

Now for you to be eligible for XUMM airdrops you need to set a trustline to a token who’s holding the airdrop soon. It would be best to set a trustline days before the snapshot date or airdrop date.

1. Find a token offering airdrop
2. Check the date of the airdrop, the snapshot date and the other requirements to be eligible for the drop.
3. Press the trustline link to set it up and make sure that you reach the prompt where it shows that it’s submitted successfully.

Here’s a quick video of how to do it:

Where to Find Airdrop Schedules

There are Facebook groups and Twitter profiles that collates airdrop schedules. But as a reminder, not all trustlines are worth the 2 XRP. As a best practice don’t buy an XRPL token if you think it’s not a legitimate project.

On a personal note, if I would be trying out XUMM I believe I’ll be just setting up trustlines and won’t purchase any tokens. But even if you think you won’t be spending any because everything could be refunded… here’s the catch. Even if you can be refunded with 2 XRP on every trustline and the 10 XRP for the wallet activation, XRP’s price may fluctuate if people will dump their tokens if the SEC ruling would unfavor Ripple Labs.

This means that as long as the SEC hasn’t released their verdict, there is still a 50% chance that the money you put into XUMM to buy XRP may amount to zero or be less than the original value that you paid for XRP.

XUMM Wallet Review: The Catch

Pros

  • XUMM wallet’s activation and trustlines are refundable
  • You can get free cryptocurrency coins
  • Its Unique Node List validators are reliable institutions

Cons

  • XRP’s value may fluctuate anytime. (The rift between SEC and Ripple will obviously affect the price of XRP, especially if XRP will be penalized, but we’re not sure what we’ll happen, it can affect XRP’s price both positively and negatively.)
  • It’s not as decentralized as Bitcoin or Ethereum. This is due to its validators and the coin supply that they hold in an escrow that they release every month
  • Airdropped tokens varies in value and depends on user elligibility
What is Xumm DO SOMETHING TODAY THAT YOUR FUTURE SELF WILL THANK YOU FOR TAKE ACTION

What is XUMM- Is it a scam?

Just to be fully transparent with you, I am not a user of XUMM and I do not endorse it for those who are wary of the potential future of XRP.

I have researched the website, testimonials, and information on the Internet to get to the bottom of what is XUMM and how XUMM airdrops work. This is because people have been burnt from cryptocurrency projects and I want to prevent others from making the mistakes when dealing with it. If you’d like to learn Ways to Avoid Online Scams then click the highlighted text. 

XUMM is not a scam, it’s merely a digital wallet for your XRP and XRPL tokens. XUMM airdrops are not also a scam but you have to be wary as some XRPL tokens are merely created as a joke and some as a scam. It would be best that anyone wanting to try out XUMM and XUMM airdrops to only put in an amount that they are willing to risk losing.

What I like about XUMM Airdrops

  • Free coins
  • Refundable wallet activation and trustline amount

Reasons Why XUMM Airdrops May Not Be For You

  • Risk of using your XRP to XRPL tokens that are not legitimate and/or rugpulls
  • You’re not positive with future SEC ruling for Ripple
  • You don’t like a cryptocurrency that is over a centralized system of node validation
  • You don’t have the time to scrutinize the issuing token before setting up a trustline

My Final Thoughts about What is XUMM and its Airdrops

XUMM is an innovative cryptocurrency wallet that offers a lot of features not present in other blockchains. I believe that the best way to make money from airdrops is by setting up trustlines and only purchasing tokens from proven projects.

However, even with the seemingly good opportunity with airdrops there is a looming doubt and fear with the future of XRP. As with every investment in the cryptocurrency world, it would be best to only put out an amount you’re willing to lose… and make sure to diversify your portfolio and not just put your eggs in one basket.

This is not a financial advice, this is just an overall XUMM wallet review and a good take on XUMM airdrops

A More Secure Business as Passive Income

Why spend time setting up trustlines and acquiring tokens that has a risk of being devauled with just one SEC ruling? When you can create more valuable things that you can help you gain a more sustainable passive income. You won’t need to risk losing your money over something that you truly has put your effort in. Why not invest in something that is worth your time and resources?

I’m talking about affiliate marketing.

I actually know of a great community where it’s FREE TO START learning about affiliate marketing.

Here you can get a peek of the things that you’ll learn from the platform about affiliate marketing, you can start to decide what niche you’ll focus on, and get a feel of the tools that you can use to start your future online business.

Here’s a comprehensive review about the community I’m talking about.

Imagine putting effort and actually gaining something from it? No court ruling to watch out for and consider

And if in case you decided to do it full time you can always try Premium for just $49/month and you will get personal help and mentoring from John Stanley.

You can click the link to find out more!

What is Xumm HERE IS MY TOP RECOMENDATION TO START YOUR HIGHLY PROFITABLE ONLINE BUSINESS FROM THE COMFORT OF YOUR HOME


Louee Gonzales Author

Louee Gonzales has been a content specialist for 4 years now. She has been enjoying writing investigative articles for EFYL. If she’s not writing, she’s either painting or traveling somewhere fun.

She has a degree in Psychology, and quick fact: she can’t read your mind. She has authored articles on the School of Positive Transformation.

XUMM

Minimum of 20 XRP to start
3.2

Credibility

3.0/10

Income Opportunity

2.0/10

Reliability

4.0/10

Price

3.0/10

Business Model

4.0/10

Pros

  • Free coins
  • Refundable wallet activation and trustline amount

Cons

  • Risk of using your XRP to XRPL tokens that are not legitimate and/or rugpulls
  • You're not positive with future SEC ruling for Ripple
  • You don't like a cryptocurrency that is over a centralized system of node validation
  • You don't have the time to scrutinize the issuing token before setting up a trustline

11 thoughts on “What is XUMM? | What you need to know about XUMM Airdrops”

  1. Honestly, after reading this I still don’t see where the value is. I’ll do Pi as it’s an easy step and even if it ends up being worth nothing it didn’t take a lot of work.
    The affiliate marketing you mentioned definitely works and it has been established for some time.
    I often feel there are so many ways to make money online it’s not worth chasing down every opportunity like XUMM.

    I had heard of XUMM but never researched it. Thanks for the great XUMM review, and for providing insight!

    Reply
    • Hi Lee,
      Thank so much for reading my honest XUMM review and sharing your thoughts here.
      As you say there are so many ways to make money online is it’s not worth chasing down every opportunity like XUMM.
      It all depends on how much time you have. Personally I prefer to focus on affiliate marketing rather than follow every “opportunity” which are often distractions and rabbit holes.

      Reply
    • Hi Lee,
      Thank so much for reading my honest XUMM review and sharing your thoughts here.
      As you say there are so many ways to make money online is it’s not worth chasing down every opportunity like XUMM.
      It all depends on how much time you have. Personally I prefer to focus on affiliate marketing.

      Reply
  2. Hi John,
    Thanks for the comprehensive XUMM review. I recently heard about it from my brother-in-law who was talking to his friends and there was a lot of hype about it, so naturally, I was quite interested to read your review.

    The rating of 32/100 was not encouraging! It did not give me confidence in the product. However, I read on, just enough to know that this is a bit on the risky side, requiring players with some tech savvyness to yield any benefit from this form of cryptocurrency trading. XUMM is certainly not for everyone…

    Ceci

    Reply
    • Hi Ceci,
      Thank so much for reading my honest XUMM Wallet review and sharing your thoughts here.
      Interesting to hear that you have heard about the hype of XUMM and XRP from your family member.
      Yes after analyzing all the factors about XUMM we gave it a rating of 32/100, it is only recommended for those who believe in the potential future of XRP.
      If you are just starting out with Crypto asset investing, personally I would prefer to have the main basis of my portfolio with proven assets like Bitcoin, Ethereum and Solana. XUMM Wallet and XRP do have that SEC court case hanging over them. For full disclosure I do have an investment in XRP and therefore hope that XRP are successful in the court case.

      XUMM Wallet and XRP may be worth watching and monitoring though, in case Ripple wins that court case. But personally I prefer top tier quality crypto assets like Bitcoin, Ethereum and Solana as the basis of my crypto investment portfolio. XRP is in my top 4.

      I appreciate that everyone’s risk profile is different and this doesn’t seem to match your risk profile. At least you know all about XUMM to make the best decision for you.

      My pleasure to help you, John

      Reply
  3. I recently heard of Xumm but I don’t really know much about cryptocurrency in itself. So I went online to look for an honest and comprehensive review. Your very detailed review is very educative and really honest. I’ll be sure to refer this to a few of my friends who are into this line, who knows, they may get some valuable information, since Xumm is not scam.

    I also like the recommendation you gave on affiliate marketing. This is really valuable especially for those who may not be interested in cryptocurrency but want to know a legit way to make money online.

    I always appreciate reviews like this that serve to help people from being victims of money-making online scams.

    Cheers,
    Femi.

    Reply
    • Hey Femi,
      Thank so much for reading my honest XUMM Wallet review and sharing your thoughts here.
      I’m really glad you learned all you wanted and I appreciate the positive feedback. Also thanks in advance for sending my article to any friends.

      Also in terms of making money online, I also agree with you. Personally I would much rather build a real online business that helps people than relying solely on crypto “opportunities” which are constantly being released. Fact based, proven since 2005 and a lot more quality (Training, tools, mentoring, community & support) and for reasonable pricing. This is why I recommend this over all others. And yes you have read that there is no need for any credit card information to create a free account to see if it suits your style. The perfect scenario is to make profits from your online business and invest those profits in assets like crypto.

      It’s been my pleasure to help you and I hope to see you on the inside, John

      Reply
  4. Thanks for your honest XUMM Wallet review.

    I like when, at the beginning of your reviews, you give it a star rating. In this case, it’s 32/100. That doesn’t give me much confidence, but I’m glad you’re honest in your review. I have no idea about cryptocurrency (but I have heard of bitcoin). But like you said, people have been burned in the past by projects promising returns with cryptocurrency. Upon further reading, I’m convinced that the best investment is real estate. Although the price may dip, at some point, it always goes back up.

    Reply
    • Hey Shalisha,
      Thank so much for reading my honest XUMM Wallet review and sharing your thoughts here.
      I agree with you, it is good to be wary when it comes to investing your hard earned money. Especially in your case when you may be considering starting our with investing in crypto.
      If you are just starting out with Crypto asset investing, personally I would prefer to have the main basis of my portfolio with proven assets like Bitcoin, Ethereum and Solana. XUMM Wallet and XRP do have that SEC court case hanging over them. For full disclosure I do have an investment in XRP and therefore hope that XRP are successful in the court case.

      XUMM Wallet and XRP may be worth watching and monitoring though, in case Ripple wins that court case. But personally I prefer top tier quality crypto assets like Bitcoin, Ethereum and Solana as the basis of my crypto investment portfolio. XRP is in my top 4.

      I appreciate that everyone’s risk profile is different and some people prefer other asset classes like stocks/shares and real estate in your case.

      My pleasure to help you, John

      Reply
  5. Thank you for the detailed XUMM wallet review article. I have been trying to crack into cryptocurrency but there’s so much out there and a lot of scammers. I think I will give XUMM wallet a try. All the research here shows it’s not a scam. Making income online is so tricky because of scammers.

    Reply
    • Hey Rakim,
      Thank so much for reading my honest XUMM Wallet review and sharing your thoughts here.
      I agree with you, it is good to be wary when it comes to investing your hard earned money and especially wary of scammers.There are a lot of scams in crypto.

      If you are just starting out with Crypto asset investing, personally I would prefer to have the main basis of my portfolio with proven assets like Bitcoin, Ethereum and Solana. XRP and XUMM Wallet will rely on XRP winning the court case with the SEC. I do hold some XRP in the hope that Ripple wins the court case. So please be aware of that risk.

      My pleasure to help you, John

      Reply

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