Why Coinbase Dogecoin Sweepstakes Winners Weren’t Introduced Regardless of On-line Confusion – Newsweek
People wonder who won a Dogecoin sweepstakes hosted by the cryptocurrency trading platform Coinbase after the winners were selected “on or about June 17, 2021”.
Coin base June, the day the cryptocurrency token became available for trading on the platform, launched its Dogecoin listing raffle.
The platform said there would be potentially thousands of winners, with $ 6,000 getting 100 in Dogecoin, 10 getting $ 30,000 and one getting up to $ 300,000. The estimated value of all prizes is around $ 1.2 million, according to Coinbase.
The competition ended on June 10 at 11:59 p.m. PDT. By then, attendees had to have signed up and completed a $ 100 Dogecoin trade to be eligible. Coinbase said attendees would receive an email once they met both requirements.
In the rules of the competition, Coinbase said that the winners would be selected “on or about June 17, 2021”.
It also said that a list of winners would be available after all winners have been reviewed – a process that involves completing documents. Coinbase did not give a time estimate of how long this process would take.
Section 12 of the rules states: “For a list of winners, email [email protected] with the subject ‘WINNERS – Coinbase Sweepstakes’. Requests must be received by July 15, 2021. The winners list will become available after all winners have been confirmed. “
On Thursday, members of the Dogecoin Reddit community asked if anyone had won anything.
One wrote: “I see absolutely no information on Coinbase that anyone has won anything with the competition.
“I would imagine that at least someone would win something here, if not at least a few people.”
Another post read, “Can someone please post when they have drawn the winners?”
Coinbase does not appear to have published any information about the competition on its Twitter page. Newsweek has asked Coinbase for a comment.
In any event, the competition rules provide that winners can claim their prizes within six to eight weeks of review.
The trading platform stated that the selected winners will be contacted by email with instructions on how to claim their prize and that the winners must respond within 48 hours.
Dogecoin rose to prominence this year after rising to an all-time high of around $ 0.74 in April and May, according to Coindesk data. The token was introduced as a joke in 2013.
Dogecoin is currently down 6.2 percent, down $ 0.28 in the past 24 hours, on a market cap of $ 37.5 billion. These numbers are likely to change. It is unclear why the token failed.
Cryptocurrencies are notorious for their price volatility. Experts previously warned Newsweek of the risks and dangers associated with trading cryptocurrencies.
A photo illustration shows a visual representation of the digital cryptocurrency Dogecoin on January 29, 2021 in the Netherlands. Coinbase started its Dogecoin sweepstakes on June 3rd and ended on June 10th.
Yuriko Nakao / Getty Images