The guide to giving cryptocurrency as a Christmas gift
As the holiday season quickly approaches, the urge to give creative and inspiring gifts goes stronger than ever. After all, there are a number of typical gifts people have come to expect come Christmastime: mugs, socks, neckties, and gift cards for example. While it’s certainly the thought that counts, do these really excite anyone?
Why not then consider giving cryptocurrency as a Christmas gift?
Aside from the fact that it’s certainly unique (although the past few years have seen it slowly entering the mainstream, as more and more shops are accepting Bitcoin as payment, you’d be giving someone a great way to grow their assets. It’s been pointed out, for example, that certain cryptocurrency could be a better store of value than paper money especially as worldwide inflation threatens to reach unprecedented levels because of the COVID-19 pandemic. Adding to this argument is the fact that one Bitcoin recently reached a record market value of over $ 24,000, a trend that looks upward in the long term due to the limited supply.
Sharing is caring if you already are a cryptocurrency holder. Thus, there’s more reason than ever to gift cryptocurrency to your loved ones. In the article below, we’ll be covering the best ways to do exactly that.
Use Telegram to give (and receive) cryptocurrency gifts
The first and most practical way to introduce someone to cryptocurrency is to simply give them the coins themselves. With 400 million monthly active users around the world, it isn’t far-fetched to think that you or someone you know uses Telegram regularly.
The good news here is that the messaging app has proved user-friendly to cryptocurrency in the past, from discussing cryptocurrency projects to build a blockchain network and eventually a currency of their own. We see further collaboration between widely-used messaging apps and cryptocurrencies.
XWallet has a feature that allows Telegram users to gift each other cryptocurrency. With Crypto Gift, XWallet users can use Telegram chat to send and receive cryptocurrency as easily as send a simple message through chat. This eliminates the hassle of keying in and confirming the long wallet addresses.
Use a crypto exchange
If your loved ones are interested in acquiring more cryptocurrency, you can teach them to sign up on a credible online digital currency exchange such as Binance, Coinbase, Kraken and others, connecting your bank account, debit, or credit card. If they prefer face-to-face interaction, visit one of our XPOS merchants to buy.
Once the above steps are done, you can send Bitcoin, Ethereum, and other coins to another account registered on the currency exchange or wallet addresses. With free cryptocurrency now at their side, it will surely open the door for the rest of their journey into the crypto world.
Give a physical wallet
This option is best if you’ll be giving your gift in person as it’s exactly what the name implies — a physical crypto wallet that contains all relevant information needed for spending the coins. You can choose to give an XPASS card that the crypto can be deposit from a XPOS merchant.
Or you can give a paper wallet that the public and private keys needed for making transactions printed on the paper, allowing the two of you to set up the wallet together.
Of course, the only downside to a paper crypto wallet is that the information can be seen by anyone so be careful when wrapping this gift and/or handing it over.
Give a hardware wallet
The alternative to a paper wallet is a hardware wallet, with the key difference being that they are more advanced than paper wallets or XPASS card because they have a micro storage device backup and QR code scan camera. Additionally, although hardware wallets are also physical devices not connected to the internet, it is suitable for those who look for a safer option to store a large amount of crypto offline.
Overall, there are now more ways than ever to have a holiday season peppered with the gift of cryptocurrency. Where people once gave each other cash and gold, it may not be long before people realize cryptocurrency is a better store of value — and there’s hardly a better gift than helping someone move that much closer to access to the digital assets built on the future-proof technology.