Crypto coins can be a fun and unexpected Christmas present to many people – read how to give crypto as Christmas present in this article.
You can give someone their first crypto coin as a way to spark their interest in the market. Or you can give a silly or hyped crypto coin to an enthusiast as a kind of gimmick. The possibilities are endless. No matter what you choose it is a present that can keep the receiver excited even after Christmas as the prices are very volatile in the crypto market.
Worth considering when giving crypto as a present
We made a compact list of the things we think you should consider before buying the crypto present.
- When to buy the coin – Buying a cryptocoin as a present can leave you with much anxiety if you do it too early. The price of the coin might rise or fall substantially from the time you purchase, until you give the present. If you buy the present too early, a crypto coin that you purchased for 50$ might be worth only 15$ on the day you give it. This can lead to awkward moments, and no one wants to be perceived as being cheap. On the contrary the present can also be worth 100$, in which case
you are in a more luxurious dilemma of considering what to do with the extra money.
- Which coin to buy – You probably want to pick up a coin that has a relation to the receiver in some sense. It could be a meme-coin with the same animal that they love, a coin made for gaming or something else depending on the receiver. You should know that some coins are easier to store and to transfer than others. You will want to give a crypto coin that is supported on at least one recognized exchange or software wallet. This way your receiver can keep it somewhere that is convenient for them.
Easy guide on giving crypto presents
There are a few different ways to actually give the crypto coins. Obviously, you can send them if your receiver already has a crypto wallet. This method is not really recommended. You will have to ask for their wallet address very explicitly. This will give away the surprise.
A better option is to give a wallet with the funds already stored in it. Again, you have two options. The first is to give a hardware wallet. The popular brands are Trezor and Ledger Nano. These hardware wallets are expensive though. They typically cost between 60-200 $ dependent on the version. It is a nice present by itself, but the point of the guide was to give crypto. Furthermore, if your receiver cares enough about security to get a hardware wallet they would probably prefer that it hadn’t been taken into use.
The other option is to give a paper wallet. You can download a non-custodial wallet like Exodus for free. You fill up the wallet with the cryptocurrency that you want to give away. Then you type down the recovery phrase on a piece of paper or similar. You can now wrap up this recovery key and give it as a present. With the recovery key the receiver can download any wallet to their own computer and “claim” the cryptocoins.
As always when handling recovery phrases, be sure that no one sees them. You might want to wrap it in a way that keeps the phrase hidden from other guests when the present is being opened.
How to quickly buy crypto
You might not have the time to create an account on a crypto exchange if you don’t have one already. The registration time on the big exchanges like Crypto.com, Kraken.com and Coinbase.com are sometimes weeks. Furthermore, you might not want to register yourself just to buy a present for someone else.
For Bitcoins an option is to use a Bitcoin ATM. It is a quick way of buying Bitcoin, but you do pay high fees on the purchase. For other coins you can use decentralized exchanges like Bisq.network and LocalBitcoins.com
So, now that you know how to give crypto as Christmas present, all you have to do is figure out which one to get that special someone in your life.
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