5 Ways to Give Bitcoin as a Gift

5 Ways to Give Bitcoin as a Gift

Has someone in your life expressed an interest in Bitcoin but isn’t sure how to get started? Perhaps the best way to introduce them to cryptocurrency is by gifting them a coin or two.

If you’re already a Bitcoin enthusiast, it creates a bonding opportunity with someone you care about. But it also has the potential to encourage them to turn a profit with Bitcoin.

Whatever the motivation, all you have to do is buy Bitcoin and choose the perfect way to gift it. Below, we’ll list five ways you can “wrap” the Bitcoin and give it to a loved one.

Method One – Send Bitcoins Directly

Undoubtedly, the easiest way to gift Bitcoins is to send them to someone directly.

The prerequisite is that the recipient of the gift holds a secure Bitcoin wallet. However, if they’re entirely new to the industry, they’re unlikely to have created a wallet or know precisely how to use it.

You could open it with them and then send the coins as a gift, but you’d lose the element of surprise.

Method Two – Paper Wallet

A paper wallet might seem like an unusual approach, but it might be the best option for those unfamiliar with cryptocurrency.

There are many services online that can issue a paper wallet with a specific number of Bitcoins attached. The paper wallet contains all the information the recipient needs to spend the coins.

It also has public and private keys that facilitate Bitcoin transactions. Typically, you’ll also see a QR code that can be scanned and added to an online Bitcoin wallet.

Method Three – Hardware Wallet

A hardware wallet is also known as a ledger wallet, and it’s one of the most secure ways to store cryptocurrency. We’re talking about small physical devices that look a lot like regular USB flash drives, but the design can vary.

One of the best things about a hardware wallet is that it’s virus-proof and requires a multi-signature transaction approach.

If you want to make your gift fancy, get an excellent ledger wallet and transfer coins onto it. This makes for a valuable gift, as the device itself is often pricey.

Method Four – Bitcoin Gift Card

Another straightforward way to gift someone Bitcoin is to send them a gift card. The good news is that the recipient is not required to have an active Bitcoin wallet.

However, to redeem the Bitcoins and use them anyway, they’ll have to create Bitcoin wallet eventually. All you have to do is use a portal such as bit4coin and purchase a Bitcoin voucher.

The voucher is sent to your friend or family member’s email address once the payment goes through. In most cases, a portal that issues Bitcoin gift cards will assist users to create their own Bitcoin wallet.

Method Five – Physical Bitcoin

Some people might not be aware that Bitcoin does have a physical form, if not like standard fiat currency. These types of Bitcoins are considered to be collectables, which makes them a perfect gift.

They’re aesthetically pleasing, too, and are perhaps best suited for those who are already passionate about investing in Bitcoin and learning more about it.

Physical Bitcoins are available in gold, silver, and even brass. They’re packaged in well-designed cases or boxes for safekeeping. However, they are more than a pretty object. They, too, have real value.

Every physical Bitcoin comes with a new Bitcoin address, and a private key tucked away under the tamper-proof hologram. The person you gift it to can use that information to redeem the funds.

Bonus Method – Bitcoin Charity Donation

Many charitable organisations accept Bitcoin as a payment method. If you want to make a donation in your name or someone else’s, make sure to research which charities accept Bitcoin.

Giving the Gift of Bitcoin

It might be challenging to find someone who’s not into Bitcoin in the near future. For now, many people are crypto-curious but aren’t sure where to start. Receiving a Bitcoin gift is an excellent way to join the Bitcoin universe.

For inexperienced investors, gift cards, direct payments, and paper wallets are probably the best options. Seasoned traders will likely appreciate a hardware wallet or physical Bitcoin as a gift.

But it’s entirely up to you and your budget and how much you feel someone will like Bitcoin as a gift in the first place.

Author Bio: Hitesh is a digital marketing strategist and entrepreneur with more than 15 years of experience in digital marketing, start-ups, branding, and customer acquisition strategies. Hitesh is the CEO and Founder of Reposition Group, which specialises in digital growth strategies for companies in the cryptocurrency market such as Bitamp.com.