Christmas is fast approaching and you might be wondering what gift to buy for your loved ones. One of the most popular gifts this Christmas season is crypto such as Bitcoin or Ethereum, and crypto related products. But how do you know which to buy or even how to do it?
A 2018 study by finder.com found that roughly 8% of Americans own some form of cryptocurrency. This number is only going to increase and if you ask your millennial child, they might prefer cryptocurrency over cash.
In the world of crypto there are over 1,000 different coins to choose from, but Bitcoin rules them all. You could also choose from Ethereum or Litecoin and not go wrong. Altcoins also are increasing in popularity but can have more of a financial risk and are very volatile. With cryptocurrency, you don’t have to buy a full coin but you can buy portions of a coin. The range in value of each crypto coin can vary but the primary cryptocurrencies definitely have a larger value per coin.
Current Cryptocurrency Prices
Prices are constantly changing because crypto markets are open 24/7 and 365 days a year. Bitcoin which uses the ticker symbol BTC is currently the lowest value in over a year, so waiting to see if you can pick some up at a lower price could be rather risky.
Bitcoin – $5,622
Ethereum – $180.00
Litecoin – $44.01
How to Buy Cryptocurrency for a Christmas Gift?
Buying cryptocurrency as a gift might seem difficult if you aren’t a tech savvy person, so here is a video that can help you buy cryptocurrency using Coinbase. If you aren’t familiar with Coinbase, they are one of the most trusted exchanges for buying cryptocurrency, very secure and also easy to use. So, click here to sign up at Coinbase and then watch the video below.
After you have purchased your cryptocurrency, you need a way to actually gift it to someone. There are a few options that include paper wallets and hard wallets, both of which will store your digital currency. If you struggle with tech, the easiest way might be to gift a crypto hard wallet with some cash. This would be a perfect gift for teenagers and millennials because they likely already have a techy mind. You can see the hard wallets I prefer below and where to buy them.
After you complete your purchase of Bitcoin, Ethereum or Litecoin, go back to the video above and watch how to transfer those funds to a Nano Ledger S hard wallet.
Other Crypto Gifts
Not sure you want to mess with buying crypto yet? Like I mentioned before, it isn’t the easiest to do but to younger generations its becoming the norm. If you went ahead and decided to buy cryptocurrency on Coinbase or decided to gift cash but still want to give a crypto gift, there are plenty of options.
Storing cryptocurrency in hard wallets is the most secure place for your Bitcoin, Ethereum or any other coins. There are online wallets but come with less security and have the potential to be hacked. We also don’t suggest leaving coins on an exchange because the exchange controls the private keys for those coins instead of you.
Some of the most popular hard wallets are the Trezor and the Nano Ledger S. They are both very trusted crypto wallets and I actually own both. They look similar to flash drives but have much more security. You can send crypto funds to people or businesses by connecting the hard wallets directly to a computer. Click here to see crypto hard wallet reviews.
If you are looking for something more educational for a crypto gift, you might consider a book. Here are a few of the most popular books related to cryptocurrency and crypto investing.
Crypto Gift Overview
It doesn’t matter what gift you decide on because the Holidays are about being together with family first and foremost. Don’t make it any harder on yourself than you need to because technology will get easier as crypto gains more adoption globally. Whether you are buying crypto books, cryptocurrency or giving a hard wallet with some cash to buy Bitcion, you can’t go wrong. If I was buying a crypto gift for the first time, I would definitely choose to gift a $100 bill with a hard wallet and allow the receiver to buy the cryptocurrency of their choice. Have a Merry Christmas, Happy Holidays and stay safe.