A rapid growth in bitcoin trading in easy steps and the broadening nature of cryptos are no longer just a decentralised form of digital currency. Cryptocurrency as we know is a form of a digital asset that keeps on fluctuating in respect to its value. With a highly buoyant nature, cryptos come with a lot of risks but not more than the benefits they provide.
Have you ever thought of gifting crypto to your loved ones? Sounds interesting. From a financial point of view, gifting bitcoins or any other form of crypto is a smarter choice instead of gifting a $10 sock pair on Christmas. Instead, gifting coins worth 10 dollars every year can result in higher saved value, if not utilized for a long period of time. Many people believe that this concept is exciting and contemporary in society, however, it needs clearance and guidance for it to take place safely.
Which Cryptocurrency to gift?
With the advancement in technology and the blockchain era, there are now more than 6,000 cryptocurrencies available in the global market. Choosing the right one to gift can be extremely exhausting and a long process. To make the process hassle-free, if you are unaware or don’t have enough knowledge about choosing the ideal coins, one should go for the popular well-established ones such as Bitcoins, Ether, Dogecoin, or Ripple.
Gifting a form of the digital coin might sound pretty tempting and confusing at first, However, the process is much more straightforward than you think. Now that you have decided what form of the coin to send, it is advisable to stick with the well-furnished one properly.
On the other hand, if one wants to gift the less common one, it is preferred to use a market capitalization ranking platform like Coinmarketcap or Coingecko to choose the ideal gift.
How to gift Cryptocurrency as a gift?
1. Mobile Apps
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CashAPP
A U.S based mobile app with its bitcoin and stock gifting feature. The greatest benefit of using this application is, one doesn’t have to buy bitcoins before sending it and can simply send the USD-equivalent value to the receiver. However, this application only deals with bitcoin exchanges with no updated feature till now.
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Revoult
A U.K based mobile banking application used to buy and send over 50 different types of cryptocurrencies. Users can not sell crypto bought using its marketplace service off-platform to anyone not using this particular platform.
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Coinbase
This fine application has its gifting feature which allows users to send and receive digital gift cards consisting of crypto assets. For using the feature, one needs to mention the receiver’s email and the app will direct them through the entire sign-up process. All you have to do is set your own Coinbase account and can use any five cryptocurrencies – Bitcoin, Litecoin, Ether, Stellar Lumen, and cash Bitcoin.
2. Gift Cards
Apart from mobile applications, several websites offer cryptocurrency gift cards. While using the website, one must make sure that it is safe, well-reviewed, and trustworthy. The next process is to sign up, select an amount, and gift it. Once the process is completed, you will be given a gift card worth the value you deposited.
3. Physical Coins
And to make your gift fancier, buying physical coins is possible too. A quite attractive way to store these digital assets, one needs to have a unique address and a private key located under the tamper-proof hologram. The coins are collectable and a great form to store digital assets.
4. Paper Wallets
A paper wallet is made through a specialised website that comprises a generated key and some QR codes. This is one of the cheapest methods to store crypto through a paper-printed form containing all the necessary information used to access the transactions and continue the process.
Summary
Cryptocurrencies now have become more than just a form of investment, A great gifting option, famous coins such as Bitcoin and ether hold great value. When used for gifting, it becomes a marvelous option for saving and investment. Technology advancement has resulted in the progress of crypto usage, also building trust and widening the community to a more remarkable aspect.
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