When the gift giving gets tough the tough turn to Bitcoin! Tis the season to give gifts to our favorite humans and it seems that no matter how much I try and remember every little thing that someone wants or needs I always fail. I should probably start writing myself some notes so I don't end up like I did the other day, just wandering around the mall without any direction or thought. Like a holiday zombie looking for “gift brains” to munch on in a sea of other holiday zombies all vying for the same feeling of “completeness”. We could of course just grab a gift card for the countless online & offline retails stores and call it done. We could even just give the gift of cold hard cash, but that is so 2000's of you to think that way! When in need of a last minute gift idea, think about giving the gift of Bitcoin!
This is the part where most people laugh or call cryptocurrencies that next “fad” that will eventually die out, but isn't that what you were doing at the mall too? Looking for that trendy gift that will be out of style in a year and most likely be tossed to the side for yet another new gift? Bitcoin & cryptocurrencies are not going anywhere, and even a modest gift now can turn into something special in a years time.
Getting Started With Bitcoin Gift Giving
The first step to giving the gift of Bitcoin (or any other cryptocurrency for that matter) is to first convert your fiat currency (USD, EUR, GBP, etc) to cryptocurrency. I have already written step-by-step instructions on how to buy Bitcoin EASY and with the least amount of fees. Follow the steps in THIS ARTICLE to purchase your cryptocurrency. It is not the easiest process, and you will want to probably start with at least $100. Once you have gone through verification and deposited your funds you are now ready to make your gift purchase. Your gift could make someone the next Bitcoin Millionaire just like the now renown Erik Finman. Forget the trendy gifts, forget the gift cards, and forget the cash. Here are my top 5 ways to give the gift of Bitcoin without all the hassle.
Bitcoin Gift Cards
Just like the gift cards you buy in the store, these gift cards come loaded with Bitcoin that you can then lock away for another day or transfer them to an exchange or wallet of your choice for trading. There are not a lot of places out there that offer true Bitcoin gift cards, but the folks over at Bit4Coin offer a great solution that looks straight forward and easy to get a nice looking giftcard already loaded with Bitcoin. While they are a European based company, you can still get your gift card to the US if you rush it! This is the only solution you don't already have to have purchased cryptocurrency ahead of time.
A Paper Wallet
A paper wallet is exactly what is sounds like. It is just the keys you need to access your Bitcoin printed out on a piece of paper. This is one of the MOST simple ways to give the gift of Bitcoin this season, but it does require you to purchase Bitcoin ahead of time. I just did a full step-by-step tutorial on how this is done. See my recent article on How To Make A Paper Wallet.
While cryptocurrencies are an all digital asset there are a few companies that produce physical coins that INCLUDE a small amount of Bitcoin or crypto on them. These are really just fun collector coins, but they make an impressive holiday gift! Denarium is the leader when it comes to physical cryptocurrency coins that include pre-loaded amounts of cryptocurrency. They ship world wide and they also accept paypal! This particular company has a long standing and is the trusted source for these particular gifts. They even have a great section on how to spend your crypto once you receive the coin.
Be on the lookout for “similar” companies or coins on places like eBay or Amazon that may be trying to scam you as they have already taken the Bitcoins off the coin but don't tell you…
Pre-loaded Hardware Wallet
One of the most secure ways to hold your Bitcoin (or many other coins) is to load them onto a hardware wallet. A hardware wallet is an actual device (much like a USB key) where you can store your cryptocurrency outside of a computer so it is super safe. Once these are loaded you can put them in a safe place so they can't be compromised or lost. There are 3 major retailers of hardware wallets that I recommend, each have a slightly different set of features.
- Ledger – One of the most popular and sleek wallets.
- Trezor – Right up there with Ledger in popularity.
- Keepkey – This is a little lessor known brand, but they have a great offering.
You have to first purchase these wallets and then “pre-load” them yourself. One you have the device in your hand it is pretty easy to follow the included instructions to load it with your crypto. Of course you first have to buy Bitcoin or crypto to do this, so follow my instructions here for that if you missed it above. This is a “high level” gift for someone that is probably already into cryptocurrencies or at least has an understanding and desire for trading.
Bitcoin Gifts Without Actual Bitcoin
Last but not least, we have a much cheaper and easier option of just getting some Bitcoin “themed” gifts instead of actually giving Bitcoin itself. While a really sweet pair of socks might not increase in value over time, they could still be the hit of the holidaze! Check out All Things Decentral for a great place to buy your cryptocurrency themed items this season as they have a huge selection of great gifts.