.png){kind=logo}
PayPal has launched a $1.386 million Bitcoin holiday sweepstakes for eligible US customers. The promotion started on November 17 and runs until 12 p.m. PST on December 21, focusing on residents aged 18 or older across the United States.
The campaign will announce 1,008 winners through five weekly draws. Six Tier 1 winners stand to receive $100,000 each in Bitcoin, while Tier 2 offers $10,000 in BTC to 30 participants. The remaining 972 Tier 3 winners will collect $500 worth of Bitcoin.
PayPal ties entries to activity on its crypto platform. The company promotes the event across its official channels as a seasonal campaign and as part of a wider push into digital assets and its PYUSD stablecoin.
PayPal account holders can enter the crypto giveaway by buying at least $1 of supported cryptocurrencies during each weekly sweepstakes period. Supported assets include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Chainlink (LINK), and Bitcoin Cash (BCH). Each qualifying purchase generates one entry, with a cap of 10 entries per week.
The PYUSD stablecoin does not qualify for entry, even though it sits at the center of PayPal’s broader digital asset strategy. New users must open a personal PayPal account, register on the PayPal Crypto Sweepstakes page, and complete a qualifying crypto purchase. Their name and email must match the information on their PayPal profile.
PayPal also offers a no-purchase route. US users can mail in a handwritten 3-inch x 5-inch card with their details and the phrase “PayPal Crypto Sweepstakes” to the specified address in Georgia. The organizer must receive these entries by 11:59:59 p.m. PST on December 23, and photocopies do not qualify.
Winners receive notifications by email within ten working days after each draw. Tier 1 winners must complete additional identity and eligibility verification. Tier 2 and Tier 3 winners receive unique codes that direct them to an online verification form. Failure to respond within five working days may lead to disqualification and reassignment of the prize.
The Bitcoin giveaway follows several earlier steps by PayPal in the crypto sector. The company enabled US users to buy, hold, and sell cryptocurrencies in 2020, then added “Checkout with Crypto” for payments at participating merchants.
In 2023, PayPal introduced its PYUSD stablecoin through Paxos, backed by cash deposits and short-term US Treasuries. The new Bitcoin sweepstakes now links this existing infrastructure with a high-profile holiday promotion, aiming to drive fresh engagement with PayPal’s crypto services and expand mainstream awareness of digital assets.
Also Read: The "Next PayPal" Race: Ranking the Top 3 Crypto Coins for Global Payments
