Nowadays, cryptocurrency is not merely the preferable field of fintech nerds but every retail trader and investor. Even most backward areas are familiar with the term cryptocurrency; these tokens top the newspaper’s headline each week because of their dramatically volatile attribute. However, the supported cryptocurrency has attained from institutions and large-scale industries is remarkable.
But the perspective of everyone regarding cryptocurrency is not exact. You can visit a website like bit-iq.io/ to get a detailed guide to bitcoin trading. Some people also have an opposing stance regarding these digital coins. According to economists, replacing pure fiat currencies for a digital coin that is privately minable is nearly impossible.
But virtual coins like BTC have started to prove such economists wrong as they became a national currency in one South American country. If you want to gift cryptocurrencies like BTC to your loved ones, here is a detailed guide to it.
Key Takeaways!
- Gifting cryptocurrencies can give immense joy to you and the recipient, as these assets are precious and trending. One can use the cryptocurrency gift as an investment asset and money to purchase any goods or service. Even the local stores accept cryptocurrencies these days. But currently, only a few cryptocurrencies are being accepted as a monetary system.
- Nowadays, it is just a piece of cake to buy and gift these virtual coins. Currently, there are two valid methods to buy and gift these virtual coins. The foremost is through a cryptocurrency gift card, and the second includes the utilization of an exchange.
- Subsequently purchasing cryptocurrencies as a gift, either with the help of a gift card or with an exchange, the sender must keep it with proper security. There are physical gift cards as well to gift these virtual coins.
- The fact that gift cards worth below $15000 is not subjected to any taxation is one of the prominent reasons people consider giving cryptocurrencies as gift card.
Cryptocurrencies Appropriate as a Gift!
Reportedly altcoins are more than 12000 in number, as creating a cryptocurrency is very easy these days. You might think why creating a digital currency is extremely easy these days; many launch pads allow you to create cryptocurrency projects at an affordable price.
Unless the recipient is fond of an explicit cryptocurrency, you bank with vanilla digital coins that can offer higher returns in the future and have a use case as a monetary system so that the recipient can use them either way. The current influx of affordable altcoins is massive, but the future of such coins is uncertain.
How to gift these virtual coins?
The skyrocketing appeal of these cryptocurrencies has made the buying part much more accessible. Some common ways to purchase and gift digital currencies are listed below.
Gift cards And Cryptocurrency Exchange!
Several land-based stores and online platforms reward their user with a cryptocurrency gift card. All the more, there are some dedicated websites to buy cryptocurrency gift cards. But for a better cryptocurrency gift card, you should choose an authentic platform to execute such operations.
You can buy gift cards on such a website with any payment method you want, even with cryptocurrencies. But the majority of the website only accept BTC and ether. Once you have deposited a definite amount to buy the desired gift card, you will get it in your user account. The Gift cards, including cryptocurrencies in them, always comes with a virtual sharable attribute so that you can send them to the recipient without even meeting in real life.
To redeem the content present inside the gift card, the recipient will visit the same website. For redeeming cryptocurrencies present, the recipient will have to insert the details mentioned in the gift card. Usually, gift cards come up with a passcode that the recipient must insert to avail of the cryptocurrencies.
You can buy gift cards worth thousands of dollars, and as mentioned above, any gift card worth below $15000 is free from taxation and banking fees. But if the recipient decides to sell off the cryptocurrency present inside it, they will have to pay the mandatory taxes. Another way to gift cryptocurrencies is to buy them from an exchange and transfer it to the user’s cryptocurrency wallet.
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