In a move stirring excitement within the cryptocurrency community, Coinbase (NASDAQ: COIN), a leading cryptocurrency exchange, has unveiled plans for a giveaway in honor of Bitcoin‘s historic halving event.
To mark this significant occasion in Bitcoin’s history, Coinbase will initiate a weekly Bitcoin giveaway, granting participants the chance to acquire BTC as a tribute to the event’s significance.
The Bitcoin halving, a predetermined occurrence recurring approximately every four years, serves as a cornerstone of Bitcoin’s monetary policy. It is engineered to curtail the influx of new BTC into circulation.
During the halving, the rate at which new Bitcoins are generated undergoes a halving, effectively diminishing the pace of supply expansion and fostering upward pressure on Bitcoin’s valuation over time.
The most recent Bitcoin halving unfolded in the past week, marking the fourth occurrence in Bitcoin’s chronicle. In recognition of this milestone and as an ode to the progress of the Bitcoin network, Coinbase has announced a series of weekly giveaways, offering participants the prospect of securing Bitcoin prizes.
“To celebrate the fourth halving, we’re giving away 1 bitcoin each week between now and May 20. The first drawing is on May 9,” Coinbase revealed in a tweet.
Scheduled to commence on April 19, 2024, at noon Pacific Time, and concluding on May 20, 2024, at 11:59 p.m., the promotion will feature the selection of one potential winner at random from all eligible entries received during each weekly period. This equates to a total of four potential winners throughout the promotional duration.
Entrants have three avenues to participate in the giveaway. First, by submitting an email address via the form on the official Coinbase page, thereby earning an entry for a chance to win 1 BTC. Second, individuals can sign up for and verify a Coinbase account by May 20 to earn an additional entry. Lastly, adding a payment method and executing the first trade of any cryptocurrency amount by May 20 grants an entry. A maximum of 10 entries is permitted during the promotional span.
Coinbase has confirmed that winners will be randomly chosen each week and rewarded with a quantity of Bitcoin deposited directly into their Coinbase wallets.
