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How to give Bitcoins as a Christmas present

Bitcoin has had an exciting run, breaking its price record in 2021 before stabilizing again. Plus, it serves several purposes that other investment instruments cannot: it is a store of value and a medium of exchange, and it is also a great way to diversify a portfolio. For these reasons, Bitcoin is a perfect gift for your loved ones. As we move toward the holiday season, let's explore some unique ways you can gift Bitcoins to your family and friends.

The central theses

  • Cryptocurrencies like Bitcoin are a popular Christmas gift for people who are interested in the technology but don’t yet own one of their own.
  • The easiest way to give away Bitcoins is to create a paper wallet with the owner's private and public keys printed on it.
  • Many exchanges offer digital gift cards that can be redeemed for cryptocurrency.
  • Hardware wallets are the safest way to store cryptocurrencies, but they are also quite expensive.
  • When using cryptocurrencies, you need to be extremely careful about security. Never reveal your private keys!

Paper wallets

Paper wallets are an easy way to gift Bitcoins because they are literally printed on physical paper. The paper wallet contains all the relevant information needed to spend the coins. The public and private keys required for Bitcoin transactions are printed on the paper wallet. In addition, a paper wallet usually has a QR code that can be scanned and added to a software wallet to make quick transactions.

Gift Cards

Bitcoin gift cards are another easy way to gift bitcoins to family and friends. The buyer needs to select the denomination and simply fill out the order form on online portals like BitCards. Once the payment is made, the gift card or voucher is sent to the address provided. The recipient can easily redeem the gift card for bitcoins or exchange it on an exchange.

Some cryptocurrency exchanges like Coinbase or Binance also offer digital gift cards that are sent to the recipient's email address. In these cases, the recipient usually has to set up an account with the exchange to receive the coins.

Hardware Wallet

Bitcoin keys stored on a device such as a USB stick or a hardware Bitcoin wallet are also a great way to gift Bitcoins. The hardware wallets are becoming increasingly popular for securing a wallet in offline mode. They are small devices that are water and virus proof and even support multi-signature transactions. They are convenient for sending and receiving virtual currencies, have a micro storage device for backup and a camera for scanning QR codes. Trezor and Ledger are examples of such a hardware device.

If you want to give someone bitcoins as a gift, make sure they know how to store bitcoins safely. One careless mistake can cause your gift to disappear forever!

Physical coins

In addition, physical manifestations of these virtual currencies are available that can be gifted. These fall into the category of collectibles and make aesthetically pleasing gifts; Denarium and Casascius coins are the most popular in this category. They are available in brass, silver and gold and are issued in limited editions. They are beautiful works of art and come in an impressive case or box. Although they are more for show, they still have very real value. They come with a Bitcoin address and a private key under the tamper-proof hologram that can be used to redeem the funds.

The conclusion

Bitcoins are inherently valuable: the recipient can use them to shop, pay bills, or resell them later for a higher price. Just like gold and cash, the value of a Bitcoin gift is pretty obvious, so there's no need to remove price tags. It's a great gift for someone who wants to learn more about Bitcoins, or perhaps someone you want to introduce to Bitcoins. Happy Christmas shopping – the Bitcoin way.

Correction – December 2, 2021: An earlier version of this article incorrectly listed a phishing website.

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