In December of 2017, Coinbase, one of the most popular cryptocurrency exchanges, gave away nearly $30,000 worth of Bitcoin to its users. The move was seen as a way to show appreciation for the platform’s loyal users, and it was also seen as a way to get more people interested in the cryptocurrency space.
The giveaway was simple: Coinbase promised to give away $1 worth of Bitcoin to every user who signed up for the platform before December 31st. The promotion was a success, and Coinbase managed to add nearly 300,000 new users in just a few weeks.
However, not everyone was happy about the giveaway. Some people felt that it was a marketing gimmick designed to take advantage of people’s FOMO (fear of missing out).
Others felt that it was unfair because only people who were already interested in cryptocurrency were eligible for the giveaway.
Regardless of the criticisms, Coinbase’s giveaway was a success. The platform added a significant number of new users, and it helped to increase interest in Bitcoin and cryptocurrency in general.
It is safe to say that Coinbase’s giveaway did not hurt the crypto space; in fact, it may have even helped it grow.