As the holiday season is quickly approaching, you may be wondering if it’s possible to give your loved ones crypto–after all, it is the gift that keeps on giving!
Whether you want to gift Bitcoin or Ethereum, it is possible to do so using gift cards designed for these purposes. But where do you get these gift cards? And how do you use them? Keep reading to find out.
Why You Should Gift Crypto
The 2022 year has been tumultuous. The US dollar has dropped significantly in value, and people everywhere are struggling to make ends meet. Many people saw the savings they acquired during COVID-19 dry up quickly as prices in the grocery store grew. But through it all, Bitcoin has held steady. Sure it lost a bit of its value at the beginning of the year, but overall it has maintained its value right around $19,000 per coin even while inflation soared.
Thoughts about value aside, there is so much you can do with Bitcoin. Giving Bitcoin is the same as giving cash, but with a little more sophistication to it. And if you’ve got a gamer to gift to, there are also Ethereum gift cards that can allow them to buy things in the metaverse, which is quickly developing.
When you give someone crypto, you are teaching them about the future and giving them an opportunity to either spend or save it if they see fit. If they decide to save it, they may find that a few years down the road, its value has gone up tremendously.
How You Can Gift Crypto
There are a few different ways you can gift crypto, most of which we have covered in our article How to Gift Crypto. This article is specifically about gift cards that you can use to give Bitcoin, Ethereum, and a variety of other coins.
Currently, there are Ethereum and Bitcoin gift cards available in most markets, however, it is reported that Litecoin gift cards can also be found. These gift cards are loaded with whatever value you desire (in crypto) and then given to the recipient. The recipient can then cash out that amount in crypto whenever they desire.
Where Can You Buy Crypto Gift Cards?
Because cryptocurrency gift cards are a bit on the new side, you might need to keep your eyes peeled if you want to purchase some for the holiday season. Generally, they can be found in post offices, grocery stores, or big box retailers like Target–any store which has a large collection of gift cards.
You can also purchase Bitcoin gift cards at Amazon.com. There are also sites like BitCard where you can purchase your Bitcoin Gift Card. Be careful, though, as there are some scams in this area. It is best to buy your Bitcoin gift cards in person at a store or from a trusted retailer like BitCard or Amazon to ensure your recipient can redeem their Bitcoin.
How to Redeem a Bitcoin Gift Card
The method needed to redeem a Bitcoin gift card will depend on the retailer you purchase it from, but it should include the instructions along with it. Some sites require you to validate with them (Bitcard), while others just require you to have a cryptocurrency wallet.
Because Bitcoin Gift cards can easily be stolen and redeemed by someone else, urge your recipient to redeem theirs right away. If your recipient doesn’t have a wallet, grabbing them a Trezor or other cryptocurrency wallet is a good gift idea as well.
How to Buy Gifts With Bitcoin
If you’ve decided that giving the gift of Bitcoin is a bit out of realm for your recipients, that’s okay, too, as there are many ways you can buy gifts with your cryptocurrency.
The first way is by using your cryptocurrency to buy gift cards for you to use while you shop. Sites like Crypto.com offer this as an option for their members. Bitpay even allows you to purchase Amazon gift cards which is the same as cash!
Of course, you can stop there and just give your recipient a gift card to their favorite store that you purchased with Bitcoin, or you can enjoy the holiday fun and do a little shopping! There are also many stores that will accept Bitcoin for purchases, they are as follows (as of 2022):
- Microsoft (did someone say video games?)
- Shopify (many small shops are run on Shopify!)
- Reeds Jewelers (for those more romantic gifts)
- Norwegian Air
- AT&T (if your teen needs a new phone)
As you can see, Bitcoin is great for the more expensive gifts on your list. And even for the cheaper gifts, don’t forget that you can use BitPay to buy Amazon gift cards!
Gifts for Bitcoin Lovers
If you’ve got a smaller budget for the holidays, don't worry, as there are many fun gifts for Bitcoin lovers that you can give. For example, Etsy has some Bitcoin earrings that can be purchased for under $50, as well as some Bitcoin playing cards for about the same price. There are even some artists who have designed coins to look like a Bitcoin if you would like to literally give someone a Bitcoin. Just know these are for show and have no real value (unless you give a Bitcoin gift card with it!)
Amazon also sells many Bitcoin gifts like socks, shirts, and even keychains. If you are feeling especially generous, get your loved one the Bitcoin coasters to go with the Bitcoin beer glasses that say “I told you so!” on them.
Overall, there are many ways you can give the gift of crypto this holiday season, whether you are literally planning to give crypto or purchase your loved one a gift using your own crypto. Just remember that if you do give crypto, you will need to also give your loved one a wallet to store it in!