Gemini launches an XRP giveaway with 4,000 XRP up for grabs every day for one week.
US-based crypto exchange Gemini has launched a campaign to potentially garner more sign-ups from the XRP community a few hours after it listed XRP for the first time.
Specifically, Gemini has launched an XRP-specific giveaway, aiming to freely distribute 4,000 XRP every day for six days. According to a Friday statement posted on its official X account, the promotion is called ‘XRP Faucet’.
We’re giving away 4,000 XRP! Every day at 3pm EST.
Introducing: The XRP Faucet ? pic.twitter.com/QktHB1hTKg
— Gemini (@Gemini) August 11, 2023
Gemini’s XRP Faucet
In the announcement, Gemini noted that its verified users can claim 20 XRP from the 4,000 XRP bounty when the faucet opens at 3:00 PM Eastern STime (ET). A verified Gemini user can only participate once per day for a week as the bounty lasts.Â
Users only need the email address linked to their verified Gemini account to participate in the XRP giveaway. Additionally, users are not required to make any financial commitment before participating. This process is typically in contrast to popular scam giveaways that require users to connect their crypto wallet.
Notably, the offer is only open to US residents of 18 and above at the time of the announcement. While residents of the District of Columbia and the 50 US States can take part in the XRP Faucet, Gemini prohibits all its affiliates from the contest. This includes all employees, representatives, agents and subsidiaries.Â
Furthermore, the exchange stated that it reserves the right to revoke the bounty or modify the rules at its discretion without any further public announcement. Notably, the campaign is a limited offer on a first come first serve basis.
Skepticism in The Community
The official announcement has garnered significant engagement from the XRP and broader crypto communities. Some inquired why the exchange became suddenly fascinated by the XRP Army, launching a giveaway in their favor.Â
A pseudonymous XRP Knight theorized that Gemini does not want to be left out of the incoming financial revolution that XRP was leading. Another X user Jaxon Mohr inquired about the exchange’s rationale for launching a giveaway after an alleged lack of liquidity on the platform spiked the price of XRP to $50.
As The Crypto Basic reported yesterday, XRP momentarily surged over 7,800% to $50 on Gemini.Â
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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