Thanks to the resilience of cryptocurrencies in recent years, offering your loved one a cryptocurrency gift might be just what you need to show them that you care. Instead of offering a cash gift that will lose value with time, why not offer your loved one a gift that has the potential to appreciate significantly ?
So, what options are available for gifting cryptocurrencies ?
Hand Them Cryptocurrencies in a Paper Wallet
Paper wallets are frequently acknowledged as one of the easiest and most convenient ways to give cryptocurrency as a gift. As you might imagine, the piece of paper contains all of the information needed for the fortunate receiver to obtain Bitcoin or any other cryptocurrency. This may include a private, public key, or a QR code that can be scanned by the recipient to get the cryptocurrency.
If you do use this approach, it is critical to emphasize that paper wallets should only be utilized as an interim solution and that assets should be relocated to a much safer environment as quickly as possible to avoid losing the cryptocurrencies.
Buy Them Cryptocurrencies in Hardware Wallets
This technique may be somewhat more pricey but it is a perfect choice if you believe that your loved one is interested in cryptocurrency investments or holding. Because hardware wallets are a type of cold storage that is not linked to the internet, they will facilitate keeping their digital assets private and protected.
Some gadgets support hundreds of cryptocurrencies, and some even have tiny digital screens where you can see your outstanding balance. Using one of these wallets may necessitate some technical expertise, so it’s always wise to provide them with some instruction when they receive their present.
Create a Cryptocurrency Account on an Exchange
Another option is to assist your friends and family in creating their accounts on a cryptocurrency exchange like Binance, Coinbase, or Square’s Cash App. When everything is fully functional, you can transfer the cryptocurrencies. Also, if PayPal’s crypto service has been launched in your area, you may be able to utilize it. All of these systems have an easy-to-use user interface, so there will be no tough challenge understanding the basics.
Offer Them Bitcoin Gift Cards
Handing your loved one Bitcoin gift cards is a straightforward, simple, and efficient process. These gift cards usually come with a code that must be entered on the website of the company. The gift card’s cash value will then be exchanged into Bitcoin at the current market price. If you utilize this method, be certain that you select a reputable exchange platform.
Consider Offering Crypto Donations to Charity
Of course, Bitcoin does not have to be given as a present to your family and friends. It may also be contributed to a variety of charity organizations. Donors will get certain attractive advantages by donating cryptocurrency. They might avoid capital gains tax and get an income tax deduction. Some of the world’s most outstanding charitable organizations have embraced accepting cryptocurrencies, making it easier than ever to make a difference.
For more information on how to offer a cryptocurrency gift, visit https://osom.finance/gift.