The popular crypto exchange Coinbase recently made Dogecoin (DOGE) available for trading on its platform. Users can now buy, sell, convert, send, receive, or store Dogecoin on Coinbase.com and through the Coinbase and Coinbase Pro apps.
Dogecoin is a meme-focused coin that started as a joke and has grown in popularity due to its community and its adorable Shiba Inu mascot. To celebrate adding Dogecoin to their platform, Coinbase recently announced a Dogecoin Sweepstakes, where the company plans to give away a total of $1.2 Million in DOGE. Keep reading to learn more about Coinbase and this popular cryptocurrency.
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Coinbase users can now trade Dogecoin
Dogecoin started officially trading on Coinbase Pro and Coinbase on June 3. The company first added the coin to its Pro platform and then later in the day made it available on their regular platform. Coinbase users have been asking for more coins to be added to the platform. Dogecoin is one of the latest coins to be added.
Coinbase will give away $1.2 million in prizes
To encourage users to trade Doge, Coinbase plans to give away $1.2 million worth of Dogecoin to 6,011 lucky people:
- 1 winner will receive $300,000 in DOGE
- 10 winners will receive $30,000 in DOGE
- 6,000 winners will receive $100 in DOGE
To take part in this giveaway, Coinbase users can sign into their account and officially opt in. Then they will need to buy or sell $100 in DOGE by June 10, 2021, for a chance to win a prize.
Don’t want to trade $100 worth of DOGE but want to get in on the giveaway action? According to the official contest rules, you can also opt into the giveaway without buying or selling Dogecoin. To do this, you’ll need to snail mail out a 3×5 handwritten card. Here are further instructions:
- Hand-write your name, address, city, state, zip code, email address, phone number, and date of birth on a 3×5 card.
- Put the single card into an envelope and mail it to Coinbase Dogecoin Sweepstakes, P.O. Box 738, Syosset, NY 11791-0738.
- You must hand-write the return address and mailing address.
- Be sure to include sufficient postage.
- Your entry must be postmarked by June 10 and received by June 15.
Winners will be randomly selected from eligible entries on or around June 17. Only one entry is allowed per person. You must be 18+ and a legal resident of the United States or the District of Columbia. Hawaii residents are excluded from the giveaway.
Should you buy Dogecoin?
You’ve likely heard of Dogecoin or have seen some of the many funny Doge memes. While there is a lot of talk about Dogecoin, you want to make sure that you research before investing in this coin.
Dogecoin is extremely volatile, and you should always trade with caution. You need to fully understand the risks and make sure that it’s the right investment for you.
We’ve previously discussed the dangers of Dogecoin. Fortunately, there are many other types of crypto, so you have options to choose from when deciding how to invest your money.
One example is Ether. Despite Doge having bigger price increases this year, there are plenty of reasons to buy Ether over Dogecoin. Whatever you decide, the biggest rule to remember is that you should only ever invest what you can afford to lose.
Researching before putting your money into any cryptocurrency is key. If you want to learn more so you can begin your crypto journey, take a look at our beginner’s guide to cryptocurrency.
View more information: https://www.fool.com/the-ascent/cryptocurrency/articles/coinbase-celebrates-adding-dogecoin-to-platform-with-12-million-giveaway/