Crypto gifts, how they work and why they make an ideal Diwali gift

Everyone you know, young and old, has undoubtedly heard of Bitcoin and the other cryptocurrencies by now. Even if they haven’t actively used or bought cryptocurrency – they may know about its benefits. In this article, we discuss the possible benefits of crypto gifts and how you can go about giving them to your near and dear ones this holiday season.

Crypto gifts: The possibilities and how they work

The easiest option is to simply send someone a bunch of tokens. Simply request the person’s public address and transfer tokens directly to the wallet. If the person does not have a wallet, you can help them create one – the education itself would be something special that you will remember for a long time (especially if the future is about crypto). You can also load the crypto on a paper wallet and present the same in a party envelope. It’s like giving someone a monetary gift, but with a modern twist.

If you want to give someone an NFT, you can buy one from OpenSea or any other NFT marketplace. If you want to create your own NFT, just choose a blockchain and get started. Whether it’s Ethereum or Solana, or any other network, you should be able to find a guide to help you through the entire process.

You can also go for a crypto gift card. Today, most notable crypto exchanges, Indian and international, offer crypto gift cards. For example, WazirX and Binance have Diwali Crypto gift cards that can be topped up and sent to family and friends. While the WazirX gift card can only be preloaded with WRX (the platform’s native cryptocurrency), Binance offers multiple crypto options.

You just have to choose how much crypto you want to add to the card and then send it to your loved one by email. The person may need to register with the issuing platform to receive the coins, which is an advantage if the recipient is a first-time crypto user. After registering, they can redeem the crypto for fiat currency, exchange it for other cryptos, or hold it as a long-term investment.

The benefit of crypto gifts

If you’re unsure whether to give someone a crypto gift this season, the following benefits may help convince you.

An instructive moment

The biggest benefit of a crypto gift to someone unfamiliar with coins and tokens is that you are their gateway to the digital asset space. Giving them crypto means they create their own wallet, learn how passwords work in the crypto overview, how sending and receiving crypto assets work and more.

If it’s a gift for your parents, it will be similar to getting their first social media accounts created. They want something to talk about with their friends, know more than people their age and not be lost when you talk about crypto to them. More than anything else, it’s another interest you can share with your parents – something you can talk to them about after long days of work at the family dinner table.

A gift that keeps on giving

With crypto, not only will the value of the asset increase over time, but they will also be able to stake them for more income (it doesn’t matter if the return is small). Instead of a basket of dry fruits, why not give your loved ones a basket of different crypto-tokens on the market? If the past is any indication of the future, one of the coins could be lifted to the moon, in which case you have every right to demand a treat in return.

The eternal kind of gift

The blockchain is permanent. Everything written on it is also permanently bound on the ledger. If it’s a gift for your special someone, you can create an NFT named after a memory you share, perhaps the first photo together.

So, even 100 years from now, if civilization continues, you can look back at it and it will be there. These days, many people have their marriage certificates on the blockchain as NFTs, so you can probably think of something you want to make permanent for the world to see.

Conclusion

We’re excited that gifts are one of the many things that blockchain technology has revolutionized. We are often so caught up and confused about what to give someone to show them how we feel. With the endless possibilities that crypto gifts provide, the task is much easier. Happy Diwali!