Dogecoin went live on Coinbase Pro on Thursday, and to celebrate the listing, the popular cryptocurrency platform announced it is hosting a giveaway.
Coinbase is giving away $1.2 million worth of Dogecoin. To be eligible, you have to “opt in” and buy or sell $100 worth of the meme-inspired cryptocurrency by June 10. You can trade $100 all at once, or a little at a time. To enter, click here.
One winner will be awarded $300,000; 10 winners will be awarded $30,000 and 6,000 winners will be awarded $100 — all in Dogecoin. Winners will be notified around June 17.
The sweepstakes is available to all U.S. residents, except Hawaii and U.S. territories.
It’s no surprise Coinbase Pro has decided to add the fan-favorite cryptocurrency to its trading lineup. At one point last month, one Dogecoin was worth $0.63 ahead of Elon Musk’s SNL appearance. Musk has branded himself on Twitter as “The Dogefather.”
One Dogecoin is currently worth $0.38, a 21.95% spike within the past week, according to real-time data tracked by CoinMarketCap (Market capitalization is constantly changing).
How to buy Dogecoin on Coinbase Pro
If you don’t already have an account, you simply just need to sign up. Do note, though, Coinbase Pro has an interface designed for more advanced traders, while Coinbase is easier to use for beginners. If you already own Dogecoin, you can also transfer it into you Coinbase Pro account.
Coinbase’s regular platform — among the most popular places to trade cryptocurrency — does not support Dogecoin, but you can add it to you cryptocurrency wishlist if you prefer a more beginner platform. If you sign up for a regular Coinbase account, you will also receive $5 worth of Bitcoin for free upon verification of ID.
Dogecoin was created in 2013 by Adobe employee Jackson Palmer and software engineer Billy Markus, according to a report by CoinDesk. It’s a play on the popular internet meme of a Japanese Shiba Inu branded as “doge.” Its non-serious vibe caused it to become a hit and attract a huge following.
What is cryptocurrency?
Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.
If you want to educate yourself more on cryptocurrency and how it works, you can always enroll in an online course, too. Courses are offered at online platforms Coursera, LinkedIn Learning and Udemy.
If you’re interested in investing in other cryptocurrencies such as Bitcoin, Ethereum, Tether and Litecoin, here are some options to get you started:
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Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips