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Can I Give Crypto as a Gift?

Author: Ava Taros

Date: 2022-Sept-01

For the past 15 years, gift cards were a popular present, particularly those offering unique experiences, extreme sports and fun outings. But with the passing of time, regular gift cards will become ho hum, a thing of the past. Gifts are transitioning into the virtual realm, with cryptocurrency at the lead. Crypto offers an element of out-of-the-box novelty along with the prospect of blockchain-proof transparency, future excitement and value appreciation.

A survey conducted before Christmas last year indicated that nearly two-thirds of Americans wanted to receive an investment gift, such as cryptocurrency or a stock. So crypto and virtual assets are definitely a desired gift, and are suitable for nearly all ages.

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How do I send a cryptocurrency gift?

There are several ways to send cryptocurrency gifts, like bitcoin and ethereum, and it is up to you to choose the method that works best for you.

  • Several big platforms like CashApp, Coinbase and Robinhood enable you to send a variety of cryptocurrencies to the recipient’s email address and to accept them within the application. In order to do so, you must have crypto in your digital wallet and the recipient must open a digital wallet in the same application as the buyer to receive the gift. In the case of CashApp, there may be a mandatory minimum amount. When paying through Robinhood, you would need a Robinhood crypto account linked to a bank account.

Additionally, when gifting crypto via an app, the recipient must set up an account on the platform in question and verify their identity prior to claiming the gift. If your recipient is new to crypto, this process may be intimidating.

  • If you don’t wish to be dependent on third parties, you can send crypto to the recipient’s existing wallet. Nevertheless, you will need to find out their address and ensure the tokens that you are sending are part of the same blockchain. If your recipient is a newcomer to crypto, you might want to set up a hardware wallet where you can load the crypto coins. This may be something of a headache for both parties involved. Also, this process will expose the recipient's wallet address as well as your own, so all information like price and purchasing times will become exposed and known.

Gifting cryptocurrency the easy way

The transfer of cryptocurrency needn’t be a hassle, nor do third parties have to be involved. You are probably used to seamlessly ordering and presenting digital gifts online. Sending cryptocurrency can be just as easy.

The easiest way to bestow cryptocurrency as a gift is to send your recipient a Giftoin coin set (link to Coin Sets Product Page). All you need to do is to select a set of crypto coins from our assortment, wrap it up, add a greeting, and press “Buy.” The crypto gift is delivered within 90 seconds! You can pay for the gift with the payment method of your choice, and Giftoin automatically stores the cryptocurrency on blockchain in a secure gift wallet at the Giftoin.org smart contract. The recipient is given a private key which ensures complete privacy.

Giftoin gifts create memorable experiences

The gifting and receipt processes are so easy that no explanations are needed. Both gift bestowers and recipients can monitor the status of their gifts and coins on the Giftoin.org dashboard in real time. Recipients can access their virtual gift wallets using email secured with 2FA, and they may choose to keep the coins, transfer them or sell them. It’s effortless, it’s fun and it’s the kind of gift your recipient will never forget.

Take a look at one of Giftoin resellers’ special crypto coin sets.

The author of this article is a member of the Giftoin team, the leading trendsetter in virtual gifting.

Learn more here:

what is virtual web3 gifting by Aviv Katz

A tale of retail evolution by Ava Taros

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