Due to the high popularity of the crypto industry, many are interesting in investing in cryptocurrencies. But are you aware that it is possible to gift cryptocurrencies? The right gift can make the memorable moments awe-inspiring. Especially in a messed kind of economy, gifting something which grows with the market value is undoubtedly more than valuable. In fact, A growing number of e-commerce businesses now accept digital assets as a form of payment, allowing customers to purchase and pay bills with them. When you include in the likelihood that they may be worth a lot more in a few years, you have a present that can be used in a variety of ways. In this article, we’ll talk about what are the best cryptocurrencies to gift and what forms are the best.
Nowadays, there are more than 5000 different cryptocurrencies that are powered by many technological concepts. However, it is worth presenting a cryptocurrency that has an already stable environment, at least up to a certain level. Bitcoin, Ethereum, or Ripple are all viable options. In the past few years, there has been an inflow of new, lower-cost entries, but it remains to be seen if they can achieve the same degree of popularity and longevity as the more established coins.
Methods to Gift Cryptocurrencies.
Gift Cards:
There are a number of websites that sell bitcoin gift cards. Find one that appears to be trustworthy, ideally with positive ratings, and that provides what you want, then choose the amount you want to provide and pay for it.
You’ll receive a gift card for the amount you put after the money is received. The receiver may redeem the gift by going to the same website and inputting the information printed on the card, similar to how normal retailer gift card’s function.
Crypto Exchanges:
Another alternative is to give bitcoin through a cryptocurrency exchange. If you’re new to crypto investing, you’ll need to pick an exchange, create an account, and choose a payment method first. Purchased digital currencies can then be easily sent to the gifted person’s wallet address once you’re up and running.
What about storage?
After you’ve purchased the present, you’ll need to find a secure location to keep it since the tokens are excessively valuable. It’s possible to keep it on the site where it was acquired, but it’s usually best to transfer it offline to a secure location where it won’t be easily hacked and stolen. Below we have gathered a few possible methods to store the gifts.
Paper Wallets:
Paper wallets are the most cost-effective way to store cryptocurrency offline. A paper wallet is made by going to a specialized website that creates keys and QR codes at random, resulting in a printed piece of paper with all of the information needed to access acquired cryptocurrency and perform transactions.
After you’ve designed and printed a paper wallet, make sure you don’t lose or damage it. The donee would no longer be able to access the virtual currency delivered to the address if this happened. It’s also crucial to store it in a secure location; if it’s discovered, someone may gain access to the digital assets and steal them.
Hardware Wallets:
The hardware wallet is a more secure storage option. Hardware crypto wallets resemble a USB flash drive. They’re compact, waterproof, and virus-proof, and many in the industry consider them to be the perfect location to store private keys, which are the vital data required to approve transactions on the blockchain network.
These wallets are offline, making them more difficult to hack than a computer or smartphone. They are also very inexpensive, with pricing varying based on the capabilities they provide.
Physical Coins:
Physical coins may be purchased if you want to make the present a little more special. These coins have a beautiful design and may be used to hold digital cash.
Each one has a distinct address as well as a redeemable private key hidden under the tamper-proof hologram. Apart from being practical storage devices, these coins have also become collectors, which means that their value may increase in the future.
- The above discussion is neither financial advice nor financial recommendation. It is a basic study on cryptocurrency which is done based on resource sources. Therefore, our team accepts no responsibility or liability for any predictions/decisions you make in the industry.