Robinhood hosts $2M crypto trivia contest, offering Bitcoin and Dogecoin prizes

Robinhood hosted a two-day trivia contest on its mobile app, offering over $2 million in Bitcoin and Dogecoin.

The first day, open to eligible US users, began at 4:45 PM ET. The quiz featured 12 multiple-choice finance, economics, and cryptocurrency questions, with a 10-second answer limit per question. A $1 million prize pool was up for grabs.

Don’t be late. Update your app now, and tune into the Robinhood app today at 4:45 PM ET for your chance to win a piece of $1M BTC.

The $2 million total was split between the two days, with $1 million awarded each day. The daily prize was divided among those answering all questions correctly. If no one achieved a perfect score, the prize was shared among those with the most correct answers.

Day two, for Gold members, was held on March 6th at 4:45 PM ET. Robinhood encouraged only one entry per person and account. The contest was accessible only via the latest version of the Robinhood mobile app (available for Android and iPhone). Winners were to be emailed within five days, with prize collection required within one month. Crypto prizes would be awarded at the market rate at the time of transfer.

Technical Issues Plague Robinhood's $2 Million Crypto Trivia Contest

Robinhood's highly anticipated $2 million cryptocurrency trivia contest faced significant technical issues, leaving many participants frustrated. While intended as a fun engagement with financial literacy, widespread glitches quickly became a source of online criticism.

From the first question, users reported problems. One user, @DocHodliday, tweeted about receiving incorrect answer feedback despite selecting the correct answer (Tesla). Many others echoed similar experiences, including app crashes, unresponsive answer selections, and incorrect answers being marked as correct. Some qualified users couldn't even access the contest, despite having updated their apps.

Common complaints included timers freezing, clicks not registering, and the system incorrectly marking correct answers as wrong. Several users questioned the contest's fairness, suggesting that technical glitches, rather than incorrect answers, eliminated a significant portion of participants. One user claimed they couldn't even select an answer to the first question, estimating that 80-90% of eliminated contestants faced similar issues.

Robinhood Trivia: A One-Off Event?

This was Robinhood's first event of this type. According to Dheerja Kaur, Robinhood's Vice President of Products, the trivia contest may be a one-off event, with no current plans for recurring similar events.

The company recently announced that the SEC concluded its investigation into alleged securities violations without taking further action. Robinhood Markets (HOOD) is currently trading at $47.27 per share on Nasdaq, nearly double its price from the previous year. Bitcoin and Dogecoin prices have also experienced recent volatility.

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