With each passing day, cryptocurrency is becoming a more and more popular investing option. What started out as a “fake and useless” market that was worth only a few cents has now grown into one of the biggest markets in the world with the latest valuation being $2 trillion! This market has only given profits to anyone who has invested wisely in it, especially those that had faith in the market from the start.
According to primebit-profit.com/ph, one of the leading platforms for cryptocurrency trading and market analysis, the future of cryptocurrency is bright and the market is only going to grow more in the future. Investing in Bitcoin and altcoins at the right time and at the right moment has made several people around the world immensely rich with amazing returns.
Thus it is to no one’s surprise that the popularity of various Altcoins, as well as Bitcoin, is at an all-time rise. People have started utilizing cryptocurrencies for various other purposes such as payment options, billing options, even gambling options, and just recently, as an excellent gifting option.
Believe it or not, the idea of gifting someone a piece of digital currency that doesn’t even exist in real life may have sounded completely absurd a few years ago but today it is one of the most popularly growing gifting ideas. There are several ways through which you can send someone your precious crypto as a gift but how exactly do you do that and is it even possible to do so?
We will answer all these questions and give you a detailed guide on sending crypto as a gift so keep reading the article till the end so that you don’t miss out on crucial details.
Can you give bitcoin and altcoin as a gift?
The question may be simple but it is a crucial one. After all, if there are lots of technical restrictions involved while sending your cryptocurrency as a gift to someone, it might be a better idea to just simply opt for a safer and normal alternative such as an Amazon gift card or a photo frame.
Fortunately, that is not the case. Sending crypto as a gift is exactly like trading your crypto with a fellow trader. The only difference is that this time it is a one-sided trade and you don’t get any cash return for your crypto. Thus, you can safely send your loved ones or your family members some Bitcoin or altcoin without thinking too much about it.
How exactly do you transfer bitcoin and altcoins as a gift to someone?
Now that you know it is possible to give crypto to someone easily, let us come down to the nitty-gritty process of how to do it. Well, the answer is that there are several creative ways you can send someone a crypto gift and you can pick any of them as your preferred method. These methods are –
Paper wallets are exactly what they sound like – wallets that are in paper form and can be accessed online using said paper. These paper wallets contain a series of private and public keys that you can input into any exchange to access your wallet with ease. They also feature a QR code to do the same but with more seamlessness.
Because of this, they are one of the best options if you are looking to give someone a nice crypto gift. You can fund the account wallet with whatever amount of crypto you can afford and give it to them as a laminated paper wallet that is wrapped with gift paper. Alternatively, you can also avail the services of various websites that offer decorative paper for your paper wallets.
Hardware wallets are considered to be the best and most secure crypto wallets because of their impeccable security and their immense resistance against all online hacking attacks. These hardware wallets are essentially high-tech USB drives that act as a storage and security system for all your crypto funds.
Fill it up with as much crypto as you want, write the private key down somewhere and send the wallet along with the private key to your friend or family, or acquaintance as a gift. If you are willing to be fancy, tying a ribbon around the hardware wallet wouldn’t hurt! Jokes aside, hardware wallets are actually on the higher-end of prices as gifts go, and most decent hardware wallets cost about $80-$100, not even including the value of the crypto inside it.
Bitcoin is called bit-coin but since it is a digital currency, we cannot really see it in physical form as a coin.. or so was the case until a few years ago until someone had the brilliant idea of transforming the digital currency’s assets into the physical form of an actual coin.
There are several companies that manufacture these coins and they are not limited to Bitcoin. Any cryptocurrency you want, they can make an offline copy of it into a physical coin coated in gold, silver, or brass – whatever your choice is. These coins can be then sent as gifts to someone and once they receive it, they can access the coin’s value in cryptocurrency form by using the keys on the back of the coin.
While these are certainly the most extravagant, attractive, and also overboard out of all other crypto gifting options, it is certainly a great choice if you want to give a memorable and luxurious gift to someone.
Benefits of giving cryptocurrency as a gift
Cryptocurrency gifts are extremely unique – chances are, the person you will be sending them to wouldn’t have received such a gift before. Additionally, the gift is actually beneficial for them as the value of cryptocurrency is only bound to increase in the future and your small gift today may prove to be extremely valuable in the future when cryptocurrency’s value achieves a new peak.
Not to forget that having cryptocurrency can open up endless investing opportunities for someone and increase their portfolio.
Giving bitcoins and altcoins as a gift is an innovative and amazing idea that every crypto investor should try. We hope this article was insightful for you and if it was, please consider following us for our regular updates as it will help us out immensely.