Retail users on Coinbase are able to now store, buy, and sell Dogecoin on the exchange, announced the company in a blog post. In hopes to attract more consumers to benefit from its most recent crypto trading method, the platform is currently having a Dogecoin giveaway promotion worth 1.2 million USD.
Investors must either sell or buy 100 USD in Dogecoin via Coinbase by the 10th of June to become qualified for the promotion, the exchange stated. The platform also plans to give away a reward worth $300K, ten prizes worth $30K, and lastly six thousand prizes worth $100 around the 17th of June.
To give their users further information, the platform has also initiated info web pages all about Dogecoin, along with another section that answers the most frequently asked questions regarding cryptocurrencies.
The exchange platform announced on Tuesday, June 1st, that it was including the meme-inspired digital currency to its premium trading program known as Coinbase Pro.
The timing of the most recent announcement diverged from Coinbase precedent in its cryptocurrency listing. The platform usually adds more cryptocurrencies to its marketing platform some weeks after initially listing them on the professional, premium version.
The announcements by Coinbase have, however, been unsuccessful in re-boosting Dogecoin’s value. Dogecoin’s value was lowered approximately 6 percent to $0.39 during the time of the announcements. The value for Dogecoin has fallen from its peak high of $0.72 on May 7 after beginning the year at a fraction of a penny.
Dogecoin was originally initiated as a joke by two engineers Jackson Palmer and Billy Markus as a joke in 2013. It gained mass popularity courtesy of Redditors along with promotions from Elon Musk as well as other prominent celebrities. It now leads other cryptocurrency platforms like eToro, Gemini, and Robinhood.
