Coinbase, one of the most popular cryptocurrency exchange platforms, is offering a “one time” 30% discount on Xmr, the popular cryptocurrency that has surged in popularity over the last few months.
Coinbase’s offer comes in the wake of the news that Litecoin will soon be officially removed from the exchanges platform due to the blockchain technology powering the currency.
As of the end of December, there were just over 1,000,000 LTC in existence, but according to CoinMarketCap.com, that number has been growing significantly since Litecoin’s announcement.
Coinbase says that this discount is in addition to the current 30% Litecoin discount, which will continue until January 12.
This new promotion also applies to other crypto currencies on Coinbase, including Dash, XRP, NEO, Ethereum, and more.
As for why Coinbase is offering this 30% coupon, the company tells CoinDesk that it was “a thoughtful way to help consumers better understand what XMR is, and what its capabilities are”.
Coinbase says the XMR discount will be available until January 11, with the code being valid for 90 days.
Coinbase is also giving consumers a chance to buy XMR through Coinbase for the first time.
Users can use the code on their Coinbase wallet, where they can then send funds to an address.
If they do so, the currency will then be sent to the recipient.
CoinDesk has reached out to Coinbase for more details.
CoinMarketCap points out that the recent rise in popularity of XMR, coupled with a reduction in the number of coins being traded on other cryptocurrency exchanges, has led to an increase in demand for XMR.
As a result, the price of Xmr has risen from $7.70 to $8.20 over the past few days.
This is not the first cryptocurrency exchange offering a discount for Xmr users.
In early January, Ripple, a cryptocurrency exchange, offered a 30% bonus on XMR to its users.