What better idea to give for Christmas than Bitcoin! The premier digital asset is a gift to behold. There will only be 21 million BTC in existence, so having at least one or a fraction of BTC will be very valuable. Here are ways on how you can gift your friends, family and loved ones with the number one cryptocurrency in an easy and secure way.
Bitcoin ATM Voucher
Give a voucher to redeem BTC from a Bitcoin ATM (BTM). Go to the BTM to purchase Bitcoin. A printed receipt will be given that contains the wallet address of the Bitcoin(s) purchased. The BTC can be redeemed at any time. Best to give with a Christmas or holiday greeting card. This is the best way to give Bitcoin to first time holders.
Purchase a hardware wallet (e.g. Trezor, Ledger) for storing a Bitcoin address private key. This in itself is enough for the gift, but you can also add some BTC to the wallet address. Ideal gift for more advanced users who may already have a hot wallet (i.e. online wallet) on an exchange. Hardware wallets allow users to have full custody of their Bitcoin(s).
Direct P2P (Peer-to-Peer)
Gift Bitcoin the way it was intended to be used, peer-to-peer. Just get the recipient’s wallet address and send the Bitcoin from your wallet. This is now simpler thanks to smartphone apps (e.g. CashApp, Coinbase) which have features for sending cryptocurrency like Bitcoin to other users. You can also use Lightning Network apps (e.g. Strike), which makes it faster to send BItcoins.These apps are easy to use, but do be wary of transaction fees. It could be a little more expensive during the holidays when the network is busier than usual.
Some crypto companies like Coinbase offer a crypto-gifting service. You must have an account on their platform to do this. This will allow you to choose the cryptocurrency of your choice (choose Bitcoin!) and send it as a gift. Provide the recipient’s e-mail address and instructions will be sent on how to claim their Bitcoin present.
Bitcoin Is A Gift That Keeps On Giving
The overall value of Bitcoin is everlasting. It can be worth more than it is currently priced in the future due to demand and supply. It is even more scarce than gold. It is also something that cannot be easily confiscated or restricted, because of its decentralized nature. Bitcoin’s properties make it a good asset to own for storing value.
The takeaway here is to give Bitcoin(s) responsibly. Recipients should be educated on cryptocurrency in general, not just Bitcoin. Spend some time with them to help them learn. With that understanding, you can make sure they will be responsible enough to never reveal a private key and that once it is lost the Bitcoin might never be recovered. It is about safety and security first in order to enjoy Bitcoin this holiday season.
Disclaimer: This is not financial advice. The information provided is for reference and educational purposes only. DYOR always to verify any information.