Coinbase, a prominent cryptocurrency exchange, has generated buzz in the digital currency community by announcing a freebie in honor of Bitcoin‘s groundbreaking halving occasion.
During this significant event, Coinbase is organizing a weekly Bitcoin lottery as part of the festivities. Contestants have an opportunity to secure some BTC as prizes.
Every four years or so, Bitcoin undergoes an automated process called the Bitcoin halving. This is an essential aspect of Bitcoin’s monetary strategy, which helps regulate the production of new Bitcoins and prevent an excessive increase in their supply.
When Bitcoin undergoes a halving event, the production of new coins gets decreased by half. Consequently, the expansion of the coin supply slows down, leading to an increased demand relative to the supply, which in turn drives up the value of Bitcoin over the long term.
A Bitcoin halving happened for the fourth time in its existence within the last week. In honor of this significant achievement and to cheer on Bitcoin’s growing success, Coinbase has unveiled a sequence of weekly contests where entrants can vie for Bitcoin rewards.
In honor of Bitcoin’s fourth halving, Coinbase announced in a tweet that they will be distributing one Bitcoin per week from now until May 20. The inaugural drawing for the giveaway takes place on May 9.
[Instructions on entering]
— Coinbase 🛡️ (@coinbase) April 23, 2024
During the promotion, which runs from April 19, 2024 at noon Pacific Time until May 20, 2024 at 11:59 p.m., one lucky participant will be chosen at random from all eligible entries received during each weekly interval. This means that a total of four winners could emerge throughout the promotional period.
During the promotional period, you can increase your chances of winning 1 BTC by following these three simple steps:
Each week, Coinbase will pick the lucky recipients at random and transfer a certain amount of Bitcoin straight into their respective Coinbase wallets.
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2024-04-24 15:27