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How to give bitcoin and digital currency as a gift?


Are you one of those people who always like to give special and unique gifts? And is it difficult for you to choose gifts for different occasions, including the birthday of your loved ones? The truth is that this is the case for many people in the world. The variety of gifts that people can give to their family and friends is very small these days and everyone is resorting to buying things like perfume and cologne or gift cards. However, giving eau de cologne as a birthday present is really a cliché and gift cards are not an interesting choice. Statistics show that small amounts or unused amounts in gift cards reach more than billions of tomans per year and there is still no proper mechanism to return them to customers or assign them. We have a good suggestion and a new idea for you: What do you think about trying digital currency as a gift?

Digital currencies are more widely accepted in the world today than ever before, and many e-commerce giants have adopted them as payment instruments. With that said, it might not be too strange to hear that someone has given a bitcoin as a gift for his birthday or a cardano for Eid.

However, these currencies are new, and being surprised by them as a birthday present is more than just cash or perfume. After all, the strength of digital currencies is that they also store good values. The price of digital currencies has risen much higher over time than other assets. So giving a currency like Bitcoin as a gift is economically more cost-effective than cash, which loses value over time or something like perfume that wears off after a while.

However, you may not know exactly how to give a digital currency as a gift, and as you read this introduction, the question “How should we give someone a digital currency as a gift?” We help in this matter an essay From the CoinMarketCop ​​site, here are some ways to donate digital currency, from which you can choose the one you like best.

Paper wallet

How to give digital currency as a gift?

Paper wallets are often the simplest and easiest way to donate digital currencies. A paper wallet is a piece of paper with a private key and wallet address printed on it. You can visit websites such as bitaddress (For Bitcoin) Create a new wallet with a unique private and public key and print it. Then transfer the amount of digital currency you want to give as a gift to the address of this wallet and give the paper wallet as a gift to its new owner on the occasion you want.

Note that bitaddress.org is currently the only approved site for making paper wallets. Fake paper wallet sites may copy a private key and use it to empty the wallet in the future.

Paper wallets have all the details you need for the recipient. QR codes, which have become increasingly popular in recent years, are also a common feature of paper wallets. Using these codes, you can easily scan the public key to receive digital currency and the private key to pay.

Since a paper wallet is nothing more than a private key and address, you can create a paper wallet for your other digital currencies with little time and effort.

Of course, if you use this method, do not forget to tell the lucky recipient of this gift that this paper wallet is a temporary tool and he should make a new wallet as soon as possible and transfer his digital currency to it. The main mechanism of digital currencies is that no one should know your private key; But when you make a paper wallet and give it as a gift, it is natural to see the private key as well. Therefore, it is better for the recipient to transfer these currencies to a new wallet.

To transfer the currencies in the paper wallet, it is enough to use software that has the ability to enter a private key. For example, in the case of Bitcoin and Ethereum and other Ethereum tokens, the Mycelium mobile wallet can be used to spend money on paper wallets.

Hardware wallet

How to give digital currency as a gift?

The cost of a hardware wallet is higher than a paper one. In the previous method, you could easily print a paper wallet for free and only pay for the digital currency you wanted to send it to; But in this method, you have to buy both your own wallet and the digital currency you want.

Of course, empty hardware wallet is also a suitable and valuable gift for your loved ones. These wallets are more secure than any other type. Hardware wallets do some kind of cold storage (offline) and are not connected to the Internet. Because of this, they keep your digital assets safe and secure from hackers. Perhaps because of their cost, few people are willing to buy them; But if you think that the person you want to give a gift to will keep their digital currencies for a long time and with the aim of long-term investment, a hardware wallet can be a very good option for him.

Some hardware wallets, such as Ledger, support almost all authentic digital currencies. Some also have a small display that shows you the wallet balance. The only problem with these wallets is that their use may require some technical knowledge. Therefore, it is better to teach the owner how to work with the gift after opening it.

Read more: The best bitcoin hardware wallets and digital currencies; Full review

However, I must point out one important point. If you first turn on and launch this wallet yourself, find its address and send it the digital currency you want, you will always be aware of the private key of this wallet. You can then access any digital currency sent to you by the wallet owner.

By no means do I want to convey that I recommend for the mother to be inactive. But there are concepts in the world of digital currencies that are valuable and should be respected. One of these concepts is that everyone should be aware of their own private key. So if you are planning to send digital currency to this wallet, it is better to wait until its owner launches it first and then get the address of his wallet from him.

Software wallet or exchange account

How to give bitcoin and digital currency as a gift?

The methods we have described so far were interesting in that they could be given as a physical gift to a particular person on a particular day, and the surprise (and even confusion) of receiving a different gift can be seen in his face. If you are intimate with the person you want to give a gift to and you do not have to worry too much about surprising them, you can avoid any of the previous troubles; Instead, help him open an account at a digital currency exchange such as Bainance or download a digital currency software wallet. Then, after making all the settings, send him the digital currency as a gift.

Both software wallets and digital currency exchanges provide a convenient and simple user interface for their users and do not require complex and special training; But their problem is that their security is not guaranteed and they may be attacked by hackers. Of course, the security of software wallets is much higher than that of exchange accounts. Of all the ways in which digital currencies are held, the security of digital currency exchanges is the lowest. These exchanges do not provide you with your private key, and keeping digital currency with them is like keeping your assets with an intermediary such as a bank. Therefore, this method is by no means recommended for long-term storage of digital currencies.

Bitcoin physical coins

Needless to say, bitcoin is not physical in nature; But you can give a physical bitcoin design as a souvenir to someone you love.

How to give bitcoin and digital currency as a gift?
Bitcoin physical coins in Digikala

These physical coins are really interesting and valuable gifts that can make any Bitcoin fan deeply happy. Touching these coins is really enjoyable for a bitcoin lover. They can also be used to photograph and capture lasting moments.

Donations in the form of digital currencies

How to give digital currency as a gift?

As the last point of the article, it should be said that you do not need to give bitcoins only to your loved ones. Today, there are many charities that also accept bitcoins for donations. So if you want to help one of these charities and help improve their situation, you can donate any amount of your bitcoins to them.

It is interesting to note that donating bitcoins to charities also brings significant benefits to the donor. For example, by doing this, you can get rid of capital gains tax and benefit from income tax exemption for the amount of bitcoin donated. Some of the most famous charities in the world today accept digital currencies. Unfortunately, it has not yet accepted the famous bitcoin charity in Iran.

Conclusion

Giving a gift to someone you love is not just a matter of disclaimer. You give gifts to your loved ones to show that you care about them and that they care about you. This is why you may think for hours and days about what can make them most happy and what, if inside their gift box, will cause them to be surprised and excited. Giving a gift is an art that, like any other art, some are skilled at and others need to practice.

In this article, we tried to introduce digital currencies as new types of gifts and examine the methods of giving digital currency as a gift. Of course, how and when you give your digital currency to others may not be very important. It depends on your taste and who you want to give the gift to. What matters is the nature of the work and the fact that giving away digital currency is a common practice in society.

Many of us give money to our loved ones for their birthdays. Digital currencies are also a new form of money that happens to have more value over time than traditional currencies. So what’s wrong with giving them Fiat currencies instead? In this way, we both lead more users to use digital currencies, give gifts to our loved ones that are economically beneficial to them, and show them that they are important to us and that we have spent a lot of time and effort trying to surprise them.

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