Buy bitcoin as a gift
By Prableen Bajpai Updated Nov 9, Bitcoin has had an exciting run, breaking its price record in before settling back down again. Plus, it serves multiple purposes that other investment vehicles can't: it's a store of value and a medium of exchange, on top of being a great way to diversify a portfolio. For these reasons, Bitcoin makes a perfect gift for your loved ones. Paper Wallets Paper Wallets are an easy way to gift bitcoins since it's literally printed on physical paper. The paper wallet contains all the relevant information needed for spending the coins.
Digital currency bitcoin BTC, He compares it to buying a bond. He added that because bitcoin is finite in its supply — the number of bitcoins will not exceed 21 million due to the structure of the technology — its value will only grow.
The long-term outlook for cryptocurrencies in general is very bright. Make sure the recipient actually wants the gift Bitcoin is a fun gift buy bitcoin as a gift give — but only if the recipient knows, or cares, what it is. Often people are first exposed to the cryptocurrency by a friend or relative who may care more about it than anyone else present at the holiday festivities, said Neeraj Agrawal, a spokesman for nonprofit bitcoin advocacy group Coin Center.
Here's how If a friend or family member is a tech nerd, finance expert, or has otherwise explicitly expressed interest in receiving bitcoin, proceed with gifting. Otherwise, hold off and buy some socks as stocking stuffers instead.
- Share Article via Email Key Points Bitcoin is bound to be the topic of holiday parties this year, so why not gift some?
- How to Give Bitcoin as a Christmas Gift
Johnson said bitcoin is likely the best option for beginners in the cryptocurrency space because it is more widely known and established. You can also opt for another well-established currency like Ethereum or Ripple. In the past, dozens of exchanges have taken off with customer money or been hacked, the most notorious of which occurred when exchange Mt.
Johnson recommends CoinbaseLocalBitcoins. All of these platforms accept credit card, so simply plug in the amount you want to purchase and your information to exchange dollars for cryptocurrency.
How to Give Bitcoin as a Christmas Gift
Be sure to enable two-step authentication on sites like Coinbase to minimize risks of being hacked. Keep your money safe Once you have your coin, you need to find somewhere to store the digital currency. You can hold it on Coinbase and other platforms where it can be purchased, but Johnson suggests moving it somewhere safer.
How to Give Bitcoin as a Gift However, like all new things, it can be not easy to find the best way to get people engaged in something they aren't familiar with. One of the approaches you can use to both share your interest in bitcoin or other cryptocurrencies with people but also give them a taste as well is to gift some bitcoin for a birthday, Christmas, graduation, or really any reason you'd like.
This involves generating a public bitcoin address, which is a long and unique set of numbers and letters used to send bitcoin, and a private key, a corresponding set of numbers and letters used to send your bitcoins to anyone else. The private key, or PIN, is what gives your bitcoin its value, and is best kept in a physical wallet or at the bottom of your sock drawer or, better yet, an actual safe-deposit box.
Just be careful about how you send it.
Buy Bitcoin anonymously and avoid KYC
Some investors have had it engraved on jewelry. Be warned, however: anyone who sees your private key then has access to your money, so always use a secure sever to transmit the number.
The goal of this guide will be to walk someone who knows nothing about cryptocurrency through the process of buying some, giving it as a gift, and then selling it when they are ready.
The most reliable and safe route is writing it by hand in a card, then photocopy it or take a photo with your phone and email it to a secure email address. Also see:.