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you can even enter if you only know 5 - bACjd
but that's basics of puzzles. for further reading go here

You create the giveaway just like a normal one just choosing "invite only" instead of everyone. They function just like any other public giveaway except they don't show in the giveaway list and aren't accessible through the posters profile.

Some people just drop them around the site like me, others use them for puzzles. One thing to note that sharing the link can get yo suspended.