This holiday season the race to buy gifts for friends and family has begun. One of the most coveted gifts this Christmas and New Year are crypto coins as people see them as a way to boost wealth. Nowadays most of the people prefer economic gifts more than books and clothes. The rise of virtual currencies such as bitcoin and ethereum has exposed people to a new industry that promises rapid wealth creation.
So if you are looking to invest to create an asset class in the future, cryptocurrencies can be an option. These coins are a versatile gift option and you can give them to anyone within or outside the country, without having to shop in a crowded market. Here’s how you can gift crypto coins.
crypto gift card
The cards work exactly like retail gift cards. Go to the website that sells bitcoin gift cards, buy the bitcoins you want to give and pay the amount. You will receive a gift card, which you can share with your loved ones. They can visit the same website and enter the details and get the bitcoins deposited into their digital wallet. Companies such as Coinbase, Binance, CashApp and Robinhood allow their users to purchase gift cards.
crypto exchange
Another way to gift crypto coins is through a crypto exchange. You can send any number of crypto coins directly to their public address. If the recipient does not have an account on a crypto exchange or digital wallet, they must set up one.
hardware wallet
These are also called offline wallets as the data is stored on a portable device such as a USB stick and are considered secure as compared to online wallets. Hardware wallets can be purchased online from crypto exchanges. To use this method, you will need to purchase bitcoin and note down the private key and other details that may be required to authorize the transaction. Simply, give the device to the recipient. Using the private key, the recipient can authorize the transaction and receive the gift.
paper wallet
It is essentially a printed piece of paper that contains keys and QR codes for cryptocurrency transactions. These are created on special websites. Visit any of these websites, make a paper wallet and send them as a gift. Anyone can get the cryptocurrency you have purchased by scanning the QR code.
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