Christmas is just hours away, and you might be on the lookout for unique and creative gifts you can surprise your loved ones with. If you’re tired of buying gifts from local gift shops that sell the same stuff every year, why not have a change of pace and surprise everyone with a fantastic crypto gift? After all, cryptocurrencies are all the rage these days.
What are cryptocurrencies, anyway? They are digital currencies that exist on a blockchain network. If you send money through a bank, the bank is the middle party that authorizes the transaction. If you send crypto, the transaction happens on the blockchain without the need of any bank.
Now that you know the basics, what crypto gift(s) can you buy for your loved ones this Christmas? There’s a plethora of options to choose from.
In this guide:
- Top 11 crypto gift ideas
- 1. Surprise them with bitcoin
- 2. Gift them NFTs
- 3. Safeguard their crypto assets
- 4. Books on crypto and blockchain technology
- 5. Send them crypto gift cards
- 6. Who doesn’t want crypto merch?
- 7. Help them become a crypto wizard
- 8. Bless them with a mining rig
- 9. How cool is a physical bitcoin?
- 10. Subscriptions as a gift
- 11. Gadgets for the geeks
- Too many choices are available
- Frequently asked questions
Top 11 crypto gift ideas
1. Surprise them with bitcoin
Bitcoin is where it all started and continues to be the most popular asset on the market. The pioneer cryptocurrency had a value of just a fraction of a penny back in 2010, a year after it was launched. Currently, 1 bitcoin (BTC) is around $49,000. In September 2021, the price peaked at $67,000.
Some crypto experts believe bitcoin will hit $100,000 soon. What’s better than sending your loved one a gift that keeps on giving?
How to gift bitcoin
In case you didn’t know, you can send bitcoin in any denomination. It doesn’t have to be a quarter BTC or half, which is too much for a gift anyway. In a nutshell, if you buy BTC with $100, you’ll get a tiny fraction, say 0.00223, depending on the cryptocurrency’s current price. Then, you can send this amount to your loved one’s wallet. Just follow these steps:
- Set up a crypto wallet: To buy and hold cryptocurrencies, you need a crypto wallet. And to set up a wallet, you can create an account on a crypto exchange like Coinbase, Binance U.S, OKEx, KuCoin, Kraken, or any other. An exchange is like a bank where you can buy or store your cryptocurrencies. It can be centralized (CEX) or decentralized (DEX). The former is easy to use and recommended for beginners, while the latter is more private and anonymous. It’s up to you which to join, but if you’re just starting out, consider a CEX.
- Verify identity: A centralized exchange is regulated. That’s why you’ll need to verify your identity by submitting your passport or national ID when signing up. A DEX, on the other hand, is unregulated and has no such requirements. After signing up, create a crypto wallet on the exchange and follow the instructions.
- Buy BTC and send it to a wallet address: Once your crypto wallet is set up, you can buy bitcoin. When you do, the crypto appears in your wallet.
Next, just head over to the ‘Transfers’ section on the exchange and enter the recipient’s wallet address. If they don’t have one, they’ll need to create it on an exchange — or use a paper or a hardware wallet. After that’s done, just enter the amount of crypto you want to transfer and hit ‘Send.’
2. Gift them NFTs
Non-fungible tokens (NFTs) are an offshoot of cryptocurrencies. The NFT market is nascent and hasn’t settled into the mainstream yet. What is an NFT, and why is it the perfect crypto gift? In a nutshell, an NFT is a piece of digital information that is stored on a particular blockchain.
Some NFTs sell for a couple of dozen dollars, while others for hundreds of thousands and even millions of dollars. CryptoPunk #7523 and Beeple’s Ocean Front sold for $11.75 million and $6 million, respectively. Pak’s ‘The Merge’ is, however, the most expensive NFT sold so far at a whopping price tag of $91.8 million.
You might ask why someone would pay so much for art? There’s no clear answer to that, but people do pay ridiculous sums of money for NFTs. Now, that doesn’t mean every NFT makes it to the top – in fact, most don’t. As a gift, though, an NFT is unique and creative. Even if it doesn’t balloon in value, it’ll carry a lot of sentimental value.
How to gift NFTs
- Set up a wallet: If you want to gift an NFT, you and the recipient need to have a crypto wallet. Make sure you have ETH in your wallet. Keep in mind, this isn’t the same wallet you create on a crypto exchange. For this, you need to create a wallet like MetaMask that can interact with the Ethereum blockchain.
- Join an NFT marketplace and mint your NFT: Next, you need to decide what NFT you want to send as a gift. You can create your own digital artwork and upload it onto the NFT platform or buy something from there as well. Thereafter, you need to join an NFT marketplace like OpenSea, Rarible, or Mintable, and connect your MetaMask wallet to it. All you have to do now is mint your NFT. Minting just means you’re making a digital file into a crypto collectible by imprinting it onto the blockchain.
- Transfer the NFT: Once your NFT is ready, choose the option to send your asset to another wallet. Enter the recipient’s wallet address and hit ‘Transfer.’ It’s always good if you double-check the wallet address because you can’t go back on the transaction once it’s made.
3. Safeguard their crypto assets
If you store your cryptocurrency on an exchange, there’s a risk that you might lose your money. Exchanges are an enticing target for hackers because they store millions of dollars in cryptos. In 2020 alone, investors lost $1.9 billion due to exchange hacks.
Hardware wallets keep your assets safe from hacks. When you make an account on an exchange, that platform has your private keys, not you. That means if someone hacks it, your money’s gone, and there’s nothing you can do about it.
With a hardware wallet, you have your private keys. The hacker can’t access your private keys because they aren’t on the exchange anymore. That’s why hardware wallets are secure. If your loved ones have their crypto assets sitting on an exchange, a hardware wallet could be the perfect Christmas crypto gift for them.
Two of the most popular hardware wallets are the Ledger Nano X and the Trezor Model T. Here’s why:
- Ledger Nano X: Supporting over 1,000 cryptocurrencies and applications like MetaMask, Ledger Nano X uses Secure Element (SE), which requests your permission for any action. Not only does it feature Bluetooth connectivity that makes it easy to connect it to your device, even if the Bluetooth connection is compromised, it uses AES-based encryption and pairing to authenticate any action. While Bluetooth is only used for public data exchange, critical information like your private keys never leave the wallet.
- Trezor Model T: The Trezor Model T uses three layers of protection — a randomly generated recovery seed, a user pin, and a passphrase feature, making it an airtight device. Like the Nano X, it also supports over 1,000 cryptocurrencies. However, it didn’t include Bluetooth connectivity to reduce the risk of a possible Bluetooth hack.
4. Books on crypto and blockchain technology
Anyone who isn’t familiar with cryptocurrencies is missing out on a ton of opportunities. If you have friends who want to become crypto experts but don’t know where to start, gifting them books on cryptocurrencies and blockchain will help them in their journey.
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The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them by Antony Lewis is a good start for someone who wants to learn the basics of what blockchain technology is, how it works, and how it enables cryptocurrencies to exist.
Another book you can gift is Cryptocurrency Investing for Dummies by Kiana Danial. This is for someone who has a basic understanding of how cryptocurrencies and blockchains work and is looking to apply that knowledge to crypto trading.
5. Send them crypto gift cards
Sending your loved one bitcoin or a crypto gift card is the same thing — you are sending them money. With gift cards, however, your money ‘feels’ like a gift because it’s wrapped like one in a gift card. A crypto gift card works like regular gift cards.
Just head over to a website that sells crypto gift cards like Binance or Coinbase, choose a cryptocurrency you want to gift to your loved one and buy the gift card. Next, send the gift card’s details to the recipient. All they need to do now is go to the exchange where you bought the gift card, enter the details, and redeem the crypto you sent them.
Sending crypto via a gift card adds sentimental value because it doesn’t feel like a trade, but a heartfelt gift. You can also personalize how your gift card looks by adding in some NFT-inspired artwork of your choice.
6. Who doesn’t want crypto merch?
If you want to stick to conventional gifts but also not be boring, getting crypto merch for your loved ones for Christmas is a great out-of-the-box idea. From hoodies, t-shirts, socks, slippers to key chains, mugs, watches, posters, and even face masks, you can find almost any category of crypto merch on online stores. Here are some stores you can check out.
- Coin Bureau Store: This online store sells t-shirts, sweatshirts, hoodies, jackets, gym vests, and hats. Most of the apparel here, especially shirts, has a bitcoin or ether logo imprinted on it. If your loved one fancies a versatile wardrobe, they will be delighted to see some crypto apparel added to their collection.
- Bitcoin Posters: As you can tell by its name, this online store only sells posters of bitcoin. You’ll find posters that have memes, cartoon characters, graphs, NFTs, QR codes, and a range of unique artwork. It’s the perfect gift for a crypto-fanatic friend whose room walls are covered with crypto posters.
- Red Bubble: This is a one-stop-shop where you will find literally every category of crypto merch — apparel, phone cases, wall art, stationery, and even baby stuff. The best thing about this store is that it’s not age-specific. You can buy something for your grandma, who has no idea what cryptocurrencies are, and she’ll like it.
7. Help them become a crypto wizard
MOOCs (massive open online courses) have made it easy for anyone to learn anything from anywhere in the world. A cryptocurrency online course is the perfect gift for someone who not only wants to know the basics of crypto and blockchain, but also wants to be a trading wizard.
There’s a slew of courses you can gift your loved ones, so they can keep pace with the fast-growing crypto world. Some courses are free, but the paid ones are more comprehensive. Plus, gifting a free course doesn’t make much sense anyway since it’s supposed to be a gift.
- The Complete Cryptocurrency & Bitcoin Trading Course 2021 comprises 108 lectures and can be completed in 9.5 hours, on average. It’s available on Udemy, one of the best MOOC platforms, for $199. It focuses on how to create a stream of passive income by trading cryptocurrencies, and might just be the perfect gift for someone who wants to retire from their day job.
- Another great course on Udemy is Cryptocurrency Mastery: The Complete Crypto Trading. You can learn advanced trading techniques like technical analysis on 20+ indicators and 15+ overlays and how to use them for systematic trading. The course is great for someone who is knees-deep into crypto trading and wants to expand their knowledge.
- Apart from Udemy, you can also check out free and paid crypto courses on Coursera and Edx. Cryptocurrency and Blockchain: An Introduction to Digital Currencies is great for those just starting out on their crypto journey. If your loved one needs no introduction to cryptocurrencies and wants to learn trading, Introduction to Trading with Technical Analysis can be a great crypto gift for them.
8. Bless them with a mining rig
A crypto mining rig is the ultimate gift for Christmas, though it can be heavy on your wallet. A mining rig is basically a powerful computer that lets you mine cryptocurrency and make money in the process. But what exactly is mining?
When you send cryptocurrency to someone else’s wallet on the blockchain, the transaction doesn’t happen in a vacuum. It costs computing power, and that’s why there’s a gas fee for making a transaction. But where does this computing power come from? This is where crypto mining comes into play.
In very simple terms, mining means you lend your computer’s processing power to the blockchain. The blockchain uses this power to verify and authenticate transactions using what’s called hashes. A hash is a function that satisfies the demands needed for a blockchain computation.
Setting up a mining rig
Now that you know the basics of what mining is, how can you set up a mining rig? You might think that a computer’s processor is where all the computing power comes from. On the contrary, it’s actually the GPU (graphics processing unit) that does the hard work. Currently, there’s a global shortage of GPUs. They’re hard to find these days and even if you find one, it’ll be much more expensive than its MSRP (manufacturer’s suggested retail price). One of the best GPUs for mining is the NVIDIA GeForce RTX 3080.
If cost isn’t a problem, you can gift an ASIC (Application-Specific Integrated Circuit) instead of a GPU. An ASIC is a specialized computer built for mining. It can provide computational power up to 100 TH/s (terra hashes per second). A good GPU like RTX 3080, on the other hand, tops out at 40 MH/s (mega hashes per second). With great computational power, though, comes a hefty price tag. A good ASIC Miner like Antminer can cost you upwards of $10,000.
Gifting a mining rig to a loved one is like giving them a small business that consistently makes them money for free.
9. How cool is a physical bitcoin?
Although cryptocurrencies are digital assets on the blockchain, they also tried making their way into the real world. A physical Bitcoin surfaced back in 2011 that included a unique crypto wallet address and private keys to it under a tamper-proof hologram embedded on the coin. Soon, however, the sale of physical bitcoins became illegal in the U.S. because it wasn’t legal tender.
Today, physical bitcoins only exist as a collectible and hold no intrinsic value. Despite that, it looks very cool, and you can flaunt it off in public. It’s a great gift to send a young crypto enthusiast this Christmas.
10. Subscriptions as a gift
Another great crypto gift you can buy for your loved ones this Christmas is subscriptions to their favorite platforms like Netflix, Twitch, Apple Music, Spotify, and more. Although most of them don’t accept direct crypto payments, you can use intermediaries like Bitrefill or CryptoRefills to purchase subscriptions with crypto.
- CryptoRefills: With CryptoRefills, you can buy gift cards for an array of services, including Amazon, iTunes, Walmart, Xbox Live, and even games.
- Bitrefill: Bitrefill lets you buy products and services with crypto. It supports services like Twitch, Airbnb, Instacart, DoorDash, Uber Eats, and much more. Apart from gift cards, you can top up your mobile balance and even pay your bills.
11. Gadgets for the geeks
Young people usually want nifty gadgets for Christmas. Apart from the usual phones and tablets, why not give them something out-of-the-box?
Raspberry Pi is a good option
- Raspberry Pi for mining BTC: Raspberry Pi is a small computer that runs Linux. And you can use it to mine BTC. To do so, you’ll need some software and technical know-how, but it’s not too difficult. Resources are available freely on the internet. After you install the software and run the code, you’ll start mining bitcoin!
- Bitcoin node: You can also use Raspberry Pi to run a full bitcoin node. You will have to connect an external hard drive to the Pi, then carry out a few tasks to make sure it’s ready to store the full blockchain. This also requires some technical knowledge that can be googled. This is a fun way to become a part of the Bitcoin network.
Too many choices are available
There’s no shortage of crypto gifts you can give to your loved ones this Christmas. The difficult thing is to decide what to get. The easy way is to send a gift card — Netflix subscription or transfer some crypto to their wallet. If you’re a creative bird, you can also send heartwarming NFTs their way or surprise them with their favorite crypto merch or wall art.
If your loved one is new to the crypto world but wants to become a trading wizard, consider buying crypto-related books and online courses, so they can enhance their learning. Speaking of learning, you can also buy crypto gadgets like the Raspberry Pi for those who want to host a Bitcoin node.
With so many options to choose from, buying a mining rig is probably the most awesome Christmas gift. Although it can cost you upwards of $5,000, it will make up for it in a couple of years and keep giving returns.
Frequently asked questions
Can you gift crypto?
Is a crypto gift taxable?
How do you give cryptocurrency as a gift?
Can I buy a physical Bitcoin?
Can you give bitcoin as a gift?
Can I send bitcoin to someone without a wallet?
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