Are you looking for a gift idea? A BlockFi survey reveals that many Americans plan to give crypto as a gift to loved ones. Why not you ? Find out how to gift Bitcoin or other crypto.
The results of the BlockFi “Real Talk: Happy HODLdays” survey
The crypto platform BlockFi conducted a survey of 1,250 Americans. Called “Real Talk: Happy HODLdays”, this study seeks to decipher the interest of those surveyed in cryptos. Above all, it reveals a new trend for the end of 2021: the gift in cryptos .
Giving cryptos: the new gift trend
Here is the highlight of the study “Real Talk: Happy HODLdays”: 10% of respondents say they plan to offer a gift in crypto at the end of the year 2021 . If the proportion may seem marginal, it is nevertheless an incredible performance for a crypto field which is still relatively young and unknown.
As noted by Flori Marquez, co-founder of BlockFi, there are more and more “crypto-curious”!
Giving Bitcoin as a gift is therefore a great way to introduce your loved ones to crypto while offering them an investment that pays off. With the BlockFi Interest Accounts (BIA) , your loved one will be able to grow the bitcoins you offer them and earn compound interest.
Which crypto to choose for a gift?
Which crypto would make the best gift? According to the BlockFi study, the answer is clear! Unsurprisingly, Americans who plan to give a gift in crypto overwhelmingly (75%) favor Bitcoin , the oldest and most important crypto in the world. Dogecoin and Ethereum are also seen as good choices.
However, the BlockFi survey shows that more than 75% of respondents do not know how to proceed to give crypto as a gift. You don’t know either? Don’t move, we’ll explain how to offer Bitcoin to a loved one.
By the way, be aware that you don’t have to gift an entire unit of crypto. Useful precision when we know that 1 BTC is currently worth around … € 45,000! You can absolutely buy a fraction of BTC for whatever amount you want.
How to give Bitcoin as a gift?
Would you like to give someone bitcoin but you don’t know how? There are several ways to give crypto as a gift. Follow the leader !
Send bitcoin to someone’s wallet
The simplest situation is to offer Bitcoin to someone who is already involved in the crypto business and already has a Bitcoin wallet . In this case, the hardest part is retrieving your friend’s Bitcoin wallet address.
If you don’t want to ask for the information directly to keep it surprised, you may have to let your imagination work… Why not borrow money from your friend and offer to pay it back in BTC? You could also ask their “help” to create your own wallet and do a test transaction. The collaboration of an “accomplice” (the spouse for example) can also be invaluable in recovering the sesame.
Once you have your friend’s BTC address, all you need to do is send them some bitcoin as a gift.
Create a Bitcoin wallet for someone
If you want to gift Bitcoin to a cryptocurrency novice, things are a bit trickier. Difficult to get him to create a crypto wallet without spoiling the surprise. In this case, you can create a BTC account in its name. For that, you will undoubtedly need the help of the famous accomplice of the interior.
For example, you can open a BlockFi account for your friend . In the registration form, you will have to enter in particular:
His name and surname;
An e-mail address;
Warning ! A verification code will be sent to the specified email address. First, you can enter an e-mail address to which you have access . Your friend can then replace it with his own email to completely take over the account.
You will then need to verify the account by sending your friend’s ID (thanks to the accomplice!). Then all you have to do is fund the account and buy some cryptos for your friend.
Offer a hardware wallet
If you don’t have the information you need to apply both of the above methods, there is another way to give Bitcoin as a gift to your loved one. The idea is to buy a hardware wallet credited with bitcoins .
A hardware wallet, or “hard wallet”, is a small physical device that often looks like a USB flash drive . It is used for offline crypto storage. It is also the most secure way to store cryptos. The 2 most well-known hardware wallet brands are Ledger and Trezor, and their models start at $ 60.
To give Bitcoin as a gift, you can send BTC from your BlockFi account to a hard wallet before giving it to your friend. Don’t forget to explain to him that this USB stick is worth more than it looks!