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Coinbase had a Super Bowl 2022 commercial, and shortly after the ad aired, its own platform crashed.

Nonetheless, now that we have your attention, the cryptocurrency company announced its hosting a sweepstakes and giving away free Bitcoin to new users.

First, the free cryptocurrency offer: If you have yet to sign up, you can do so here. New users will receive $15 worth of Bitcoin, but only through Feb. 15.

Next, the giveaway: Coinbase is handing out $3 million worth of Bitcoin. To be eligible, you just have to opt in by Feb. 27.

There will be three winners, each rewarded $1 million worth of Bitcoin. Winners will be notified around mid-March.

One Bitcoin is currently worth over $42,000, according to real-time data tracked by CoinMarketCap (Market capitalization is constantly changing).

What is cryptocurrency?

Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. Its decentralized, meaning it isnt controlled by the government or any other central authority such as a bank.

You can use cryptocurrency to buy products from retailers who accept it as payment, such as Overstock, or sell it to make a profit.

Other well-known cryptocurrencies besides Bitcoin include Dogecoin, Shiba Inu, Ethereum and Tether.

Where else can I buy cryptocurrency?

Crypto.com is another popular cryptocurrency trading platform, and also aired an ad during Super Bowl 2022.

Here are some other places where you can buy cryptocurrency:

You can also buy cryptocurrency on Venmo.

How much does it cost to buy cryptocurrency?

To invest, you dont have to buy one entire cryptocurrency, such as Bitcoin you can buy just a fraction. One Bitcoin is currently worth over $42,000, whereas one Dogecoin is not even worth 15 cents.

Ultimately, it depends on which cryptocurrency youre buying. Each has a different price and market value.

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Nicolette Accardi covers the online shopping industry, writing about commerce, daily deals and tips. She can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi.

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Coinbase giveaway: How to get $15 in free Bitcoin and opt in for $3M cryptocurrency sweepstakes - NJ.com