How to Give Bitcoin as a Christmas Gift

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How to Give Bitcoin as a Christmas Gift

Bitcoin has had an amazing journey, surpassing its price record in 2021 before falling down. Furthermore, money performs numerous functions that other investment vehicles do not: it is a store of wealth, a means of exchange, and a wonderful method to diversify a portfolio. For these reasons, Bitcoin is an ideal present for your loved ones. As we approach the holiday season, let’s look at some creative methods to give bitcoins to family and friends.

Key Takeaways

  • Cryptocurrencies such as Bitcoin are a popular Christmas present for folks who are interested in the technology but do not currently possess any.
  • The simplest approach to give bitcoin is to create a paper wallet with the owner’s private and public keys written on it.
  • Many cryptocurrency exchanges provide digital gift cards that may be exchanged for bitcoin.
  • Hardware wallets are the most secure method of storing bitcoin, but they are also rather pricey.
  • Using bitcoin necessitates paying close attention to security. Never give out your secret keys!

Paper Wallets

Paper Wallets are a convenient method to give bitcoins since they are printed on tangible paper. The paper wallet provides all of the information required to spend the coins. The paper wallet contains the public and private keys required for bitcoin transactions. Furthermore, a paper wallet often includes a QR code that can be scanned and uploaded to a digital wallet to facilitate speedy transactions.

Gift Cards

Bitcoin gift cards are another simple method to donate bitcoins to family and friends. The buyer just has to choose the denomination and fill out the order form on websites like BitCards. The gift card or voucher is shipped to the given address after payment is received. The gift card may be simply redeemed against bitcoins or traded on an exchange.

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Some cryptocurrency exchanges, such as Coinbase or Binance, also provide digital gift cards that are sent to the receiver. In these circumstances, the receiver must normally open an account with the exchange in order to receive the coins.

Hardware Wallet

Bitcoin keys kept on a device such as a USB drive or a hardware bitcoin wallet are also a good method to give bitcoins. Hardware wallets are becoming popular for securing a wallet in offline mode. They are little gadgets that are resistant to water and viruses and can even handle multi-signature transactions. They are useful for transferring and receiving virtual money, as well as having a tiny storage device backup and a QR code scanner camera. Trezor and Ledger are two instances of such devices.

If you choose to gift someone bitcoin, make sure they understand how to properly keep it. One single error might cause your gift to vanish forever!

Physical Coins

There are also tangible forms of these virtual currency that may be given. These are treasures and make visually appealing presents; the most popular in this category are Denarium and Casascius coins. Limited versions of these are available in brass, silver, and gold. They are stunning pieces of art that come in an appealing case or box. While they are primarily for show, they are nonetheless quite valuable. Under the tamper-proof hologram is a bitcoin address and a private key that can be used to redeem the money.

The Bottom Line

Bitcoins are intrinsically valuable: the receiver may spend them to shop, pay bills, or save for later sale at a greater price. The worth of a bitcoin present, like gold and cash, is quite obvious, thus there is no need to remove price tags. It’s an excellent present for someone who wants to learn more about bitcoins or for someone you want to introduce to bitcoins. Merry Christmas shopping—the bitcoin way.

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Correction—December 2, 2021: An earlier version of this article incorrectly identified a phishing website.

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