U.Today - In a move that has the cryptocurrency community buzzing with excitement, Coinbase (NASDAQ:COIN), one of the leading cryptocurrency exchanges, has announced a giveaway to commemorate Bitcoin's historic halving event.
As part of this celebration, Coinbase will host a weekly Bitcoin giveaway, offering participants the chance to win BTC in recognition of this pivotal moment in Bitcoin's history.
The Bitcoin halving, a programmed event that occurs approximately every four years, is a fundamental feature of Bitcoin's monetary policy, designed to limit the supply of new BTC entering circulation.
During the halving, the rate at which new Bitcoins are created is cut in half, reducing the rate of supply growth and exerting upward pressure on Bitcoin's price over time.
The most recent Bitcoin halving occurred in the past week, marking the fourth such event in Bitcoin's history. To commemorate this milestone and celebrate the progress of the Bitcoin network, Coinbase has announced a series of weekly giveaways, offering participants the opportunity to win 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 said in a tweet.
The promotion, which begins on April 19, 2024, at noon Pacific Time, and ends on May 20, 2024, at 11:59 p.m., will see one potential winner randomly drawn from all eligible entries received each weekly period. This culminates in a total of four potential winners throughout the promotional period.
There are three possible methods of entry that are submitting an email address using the form on the Coinbase official page to earn an entry for a chance to win 1 BTC. Second, sign and verify a Coinbase account by May 20 to earn an additional entry. Third, add a payment method and complete the first trade of any amount of crypto by May 20 to earn an entry. A maximum of 10 entries is allowed during the promotion period.
Coinbase says winners will be randomly selected each week and awarded a sum of Bitcoin directly to their Coinbase wallets.