This year’s festive season has begun to rush to buy gifts for friends and family. One of the most coveted gifts this Christmas and New Year is cryptocurrencies as people see them as a way to boost wealth. Most people today prefer financial gifts to books and clothes. The rise of virtual currencies like Bitcoin and Ethereum has made people aware of a new industry that promises to create quick wealth.
So, if you are thinking of investing in the future to build an asset, then cryptocurrency could be an option. These coins are a versatile gift option and you can give them to anyone, at home or abroad, without having to go shopping in a crowded market. Here’s how you can donate crypto.
Cryptocurrency gift cards
The cards work just like retail gift cards. Go to a website that sells Bitcoin gift cards, buy the Bitcoin you want to give away, and pay the amount. You will receive a gift card, which you can share with your loved ones. They can visit the same website and get Bitcoin deposited into their digital wallet by entering their details. Companies like Coinbase, Binance, CashApp, and Robinhood allow their users to purchase gift cards.
Cryptocurrency Exchange
Another way to donate cryptocurrency is through a cryptocurrency exchange. You can send the amount of cryptocurrencies directly to their public address. If the recipient does not have an account on a cryptocurrency exchange or digital wallet, they will have to set up one.
Hardware wallet
This is also known as an offline wallet because the data is stored on a portable device such as a USB stick and is considered more secure than an online wallet. Hardware wallets can be purchased online from cryptocurrency exchanges. To use this method, you need to purchase Bitcoin and record the private key and other details that may be required to authorize the transaction. Simply hand the device to the recipient. Using the private key, the recipient can authorize the transaction and receive the gift.
Paper wallet
This is essentially a printed sheet of paper that contains keys and QR codes for cryptocurrency transactions. They are created on specialized websites. Visit any of these sites, create a paper wallet, and send them as gifts. Anyone can get the cryptocurrency purchased by you by scanning the QR code.
