Share The Wealth: Your Options For Gifting Cryptocurrency

Women covers mans eyes and man holds surprize gift box

Many investors have made a solid profit with well-timed bitcoin investments.

Others have had success as a trader through an app such as bitcoin fast profit. With these profits traders may wish to pass on some of their good fortune as a gift to a loved one.

A gift of cryptocurrency can be a bit more exciting than simply giving someone cash. You’re not just offering a share of your profits, but also a chance for the recipient to get involved with one of the most exciting investment markets currently available. In the long-term, they may even make a decent profit of their own.

Gifting to another crypto wallet

If you want to give some of your cryptocurrency to somebody who already has their own wallet, then it’s a straightforward process – you just have to make the transfer. If the other person uses Coinbase then it’s even easier, as you can send the gift to the email address attached to their Coinbase account.

Bitcoin gift cards

That’s right – cryptocurrency gift cards are now available, and offer one of the easiest approaches for gifting crypto to somebody who doesn’t have a digital wallet of their own. The gift card or voucher can be given to the recipient, ready for them to redeem when they’re ready.

If you’re feeling particularly generous, you can also spend some time sitting with them and sharing what you know about how crypto works. The portals that sell these gift cards also offer clear instructions about how to open your own wallet, so the recipient should find it relatively easy to get started.

Giving a physical wallet

You could also consider giving your loved one their own physical cryptocurrency wallet – preloaded with some crypto, of course. Hardware wallets are considered a particularly secure way to store digital currencies, and are therefore gaining popularity among crypto fans. It may also make for a more exciting gift, since it gives you an object to wrap up.

Hardware wallets do a lot, offering safe storage for cryptocurrencies but also providing additional functions such as the ability to store different types of digital coin or to check your balance via a display screen. This can make them a little fiddly for a beginner, so you may want to offer some time to help them get it all set up.

For those who want to keep things simple, a paper wallet could be a great alternative. Similar to gift cards, these are printouts that contain all the information needed to redeem some crypto. Your recipient will get a public key and a private key; everything they need to transfer the money into a more secure storage space.

Physical coins

Bitcoin is also available to buy as a physical coin, typically produced in limited edition runs. These coins offer an attractive collector’s item, which can be kept and treasured even after the currency has been used. They come with all the information needed to cash in your Bitcoin – just make sure that the token you’re buying is new, not one that has already been redeemed.

Buying crypto as a physical coin will be more expensive than simply buying the currency, however, and may be best suited as a gift for those who already appreciate crypto.

Related posts

Top 5 Long-Term Investing Tips And Tricks

Personal Finance

How Will Rising Interest Rates Affect You?


Guide For First-time Investors


Is The S&P 500 All You Need To Retire A Millionaire?