New York-based cryptocurrency exchange, Uphold, has announced this month’s ‘Sweepstakes’ promo, giving up to $25,000 in XRP to six lucky winners. The announcement sent excitement across the Uphold community on social media as users began to indicate interest in participation.
Notably, the XRP giveaway promo update comes barely 24 hours after the SEC filed an appeal notice to the United States Court of Appeal of the Second Circuit, challenging the recent XRP ruling in the long-running Ripple vs SEC case. Following the notice, the price of XRP tanked by 14%, forcing it to trade around $0.50. The Uphold Sweepstakes XRP giveaway will offer a chance for prospective winners to receive the coin while positioning for a potential upward trajectory when the market resurges.
Read Also: XRP Drops Over 13% Following SEC Appeal in Ripple Lawsuit
Uphold Sweepstakes Giveaway Details
In a post on X (formerly Twitter), Uphold disclosed that this month’s Sweepstakes promo will give out $20,000 in XRP to one lucky winner. Moreover, five additional runner-ups will get $1,000 each raising the giveaway total to $25k. According to a detailed post on their official website, all “natural persons” who are active users of the Uphold platform and have completed their KYC procedures and successfully verified their identity can participate in the promo.
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However, users who are residents of New York and Florida are not eligible to participate in the campaign. Additionally, users must be at least 18 years of age on October 3, 2024, at 11:00 AM EDT. Uphold revealed that the Sweepstakes starts on October 3, 2024, at 11:00 AM EDT, and runs through till October 31, 2024, at 19:59 EDT. Importantly, users can qualify for an entry if all their transactions are successfully executed on the Uphold platform by 19:59 EDT on the last day of the promo period.
How to Enter the Sweepstakes Promo
Meanwhile, Uphold emphasized that users are not required to purchase or make any payments to enter the promo. Instead, they will need to register their participation by clicking on the Sweepstakes banner visible to eligible participants on the app. Individuals would have to select the “opt-in” option and receive one free entry upon joining.
Upon registration, qualified users will receive additional free entry in the draw for all eligible transactions performed on the Uphold platform during the duration of the promo. Notably, an “eligible transaction” refers to all transactions performed on the Uphold platform excluding deposit and withdrawal of fiat or cryptocurrency. Users can register for multiple entries as there are no limits placed. Therefore, the more entries, the higher the chances of winning.
At the end of the Sweepstakes period mentioned above, six entries will be selected in a random draw from the eligible participants. Following the selection, winners will be informed via their emails about their winnings and every won amount will be paid to the user’s account within one month.
Six Prizes to be Distributed
At the end of the Sweepstakes promo, six prizes will be allocated to the winners. One user will receive the grand prize of $20,000 in XRP, and five runner-ups will receive $1,000 each in the form of XRP. The XRP amount will be calculated based on the market rate on October 31. Moreover, the winners will be required to agree to all Uphold’s terms and conditions and reply to their email notification within 10 days, else price will be forfeited to alternative winners selected in a random draw.
Read Also: SEC Appeals Judge Torres Ruling on XRP Classification, What Does this Mean for XRP?
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.