To celebrate $COIN, we’re giving away $1.5M in bitcoin. Sign up for a new Coinbase account before April 22 for a chance to win. Contest rules and details are at: https://t.co/EOhDrzoVZD
Void where prohibited. No purchase necessary. Restrictions apply.
— Coinbase (@coinbase) April 15, 2021
The airdrop is only available to people who sign up with the exchange and verify their identity before April 29, 2021. Once the user’s identity is verified, they are automatically enrolled in the airdrop raffle draw. Winners of the draw would receive congratulatory mails by May 2 2021.
The prizes are different, and at 3 levels, 500 people would get $1000 in Bitcoin bonuses, 10 lucky people are rewarded with $50,000 each, and one lucky winner shall get $500,000 in Bitcoins.
In a stunning display of generosity that is perhaps logical, especially with the direct listing of Coinbase, several fake airdrops have been started by scammers, driving investors away from the coin. Coinbase’s COIN shares started trading at $381 each, up from an offering price of $250 but were eventually driven down to $328 a share.
Though the crypto firm has performed well since its direct listing, closing with a valuation of $85 billion. Airdrop scams and other similar factors have caused investors to grow cautious with trading the coin, causing a 22% loss —a problem the crypto exchange CEO Brian Armstrong wishes to correct with a bit of incentives.