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The Crypto.com exchange has revealed that it will be hosting a giveaway in which a Tesla Model 3 is the grand prize, and also giving daily prizes in Bitcoin worth of $1,000.

The official blog post states that the contest for the Tesla Model 3 giveaway will start on Wednesday, 13 May 2020, at 07:00 UTC (15:00 HKT), and end on Friday, 12 June 2020, at 00:00 UTC (08:00 HKT).

The daily prizes of $1,000 in BTC will be distributed until the end of May.

In order to qualify for the two draws, Crypto.com exchange users have to follow the giveaway instructions below:

  • Make a net deposit of at least $1,000 worth of crypto. The site explains that a net deposit is the difference between the total deposit and the total withdrawal. Users can transfer their crypto from their Crypto.com app to the Crypto.com exchange, and the funds will also be considered a net deposit.
  • Trade at least 10 times. Users will have to trade the sum they deposited for a minimum of ten times. Buy and sell orders count as trades.
  • Stake a minimum of an extra 10,000 CRO. You will have to stake at least 10,000 CRO on the exchange, even in the case of already having 10,000 CRO staked. (“Additional CRO staking is defined as the increment in CRO balance staked on the Crypto.com Exchange on or before 12 June 2020 00:00 UTC as compared to CRO balance staked on the Crypto.com Exchange on 13 May 2020 07:00 UTC.”)

The site also noted that all users that have passed the advanced exchange’s KYC can participate in the draw.

The Tesla Model 3 prize (worth around $35,000) does not include any applicable taxes, fees, and shipping fees, and the winner has the option of replacing the Tesla with its matching value in CRO tokens. Winners will receive an email in which they will be asked to provide the necessary information for prize delivery. Those who do not respond to the email will be considered to have forfeited the prize.

The BTC prize will be credited within 1 month after the campaign’s end in the user’s wallet on Crypto.com.

Featured image: unsplash.com

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