Coinbase Makes Dogecoin Available to Retail Investors
The exchange will try to boost interest in the meme-based cryptocurrency through a $1.2 million giveaway promotion.
Jun 3, 2021 at 10:57 p.m. UTCUpdated Aug 21, 2021 at 7:29 p.m. UTC
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Coinbase retail users can now sell, buy and store dogecoin on the exchange, the company said in a blog post. To stir up interest Coinbase is running a $1.2 million dogecoin giveaway promotion.
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- Investors who opt in and purchase $100 worth of dogecoin will be eligible for the promotion.
- Coinbase has launched information web pages about dogecoin, and a section that addresses frequent questions about cryptocurrency.
- On Tuesday, the exchange announced that it was adding the meme-based cryptocurrency to its professional trading platform, Coinbase Pro.
- The timing of the latest announcement veered from Coinbase precedent in its listing of cryptocurrencies. The exchange typically adds cryptocurrencies to its retail platform a few weeks after first listing on the professional version.
- The Coinbase announcements have failed to re-boost dogecoin's price, which was down nearly 6% to $0.39 at the time of publication.
- Dogecoin is down from its all-time high of $.72 on May 7 after starting the year at a fraction of a penny.
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