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Gifts are the perfect way to make loved ones feel appreciated on a vacation or anniversary, or perhaps to congratulate them on a recent achievement. But choosing the right gift can be tricky.
Whether it’s finding something suitable for the occasion or giving a friend or family member something they’d like, finding the right gift takes a lot of work.
Instead of worrying about a thing, here are five reasons why crypto is the perfect gift.
1. Crypto is like money only better
Most of the time, letting someone choose their own gift is the perfect option, especially if you’re not particularly close and are worried that you’ll end up giving them something they don’t like.
Gifting someone with cash or a prepaid gift card is the best way to help friends and family get whatever they want without straining their wallets. But instead of sending them an envelope full of cash or asking them for their PayPal or Venmo accounts, which aren’t available everywhere, crypto can be the perfect gift.
Crypto isn’t just one thing. In fact, taking the time to choose the perfect currency for their needs can always show that you care.
For example, Bitcoin and Ethereum are great for someone who is already investing. However, they are incredibly volatile and can rise (or fall) in value at any time. Alternatively, a currency like Tether is one of the more stable cryptos and is a great alternative to cash.
MAKEUSEOF VIDEO OF THE DAY 2. Crypto works perfectly abroad
Despite an interconnected network of banks and financial services globally, sending money abroad is still far from efficient.
On the one hand, there is a certain degree of risk involved in using the courier to send money and is subject to strict regulations if published internationally. The same goes for digital wallets. Paypal, Venmo, and Cash App are only available in a limited selection of countries and often charge higher fees for international transfers.
Crypto is the most efficient way to send money overseas if you or your family and friends live overseas. While most crypto wallets still charge a transfer fee, they are low compared to conventional currency digital wallets, wire transfers, and direct money transfers like Western Union.
With crypto, you are free to send funds anywhere, regardless of location and borders. And apart from being faster than conventional transfers, you don’t have to worry about exchange rate fluctuations either.
In addition, crypto transfers work 24/7. This way, you can ensure that your crypto giveaway can reach the person on their birthday, when a specific holiday is in their local time zone, or as soon as they announce the good news.
3. Crypto is an investment
While there is no such thing as risk-free investing, crypto is not a single entity. Different cryptocurrencies differ in their investment value and risk.
Choosing the right cryptocurrency to give a friend or family member is a great way to stretch your dollar if you are strapped for funds yourself. By choosing to send a relatively safe and growing currency as a gift, its value can increase in a matter of weeks to months.
It might even be a way to safely introduce someone into the world of crypto investing. After all, the first step is often the most difficult. By using your funds to invest under their name, they could experiment with different cryptocurrencies and various online exchange markets. Playing with “house money” is always easier than yours!
Crypto is gradually becoming incredibly popular with online retailers. If the special someone you have in mind enjoys shopping for clothes, games, gadgets, and trinkets online, crypto is a great way to keep money digitally and avoid as many fees as possible.
With crypto, they could shop at a variety of sites without having to pay a bureau de change when buying in another country.
Related: The Biggest Companies Where You Can Spend Your Bitcoin
5. Crypto offers controlled volatility
All currencies are volatile but to varying degrees. But if you send someone money as a gift in a conventional currency, you are more or less limited to the currency of the country in which they reside.
While this might not be a problem in most places, some currencies are incredibly volatile. As a result, your gift could end up losing a considerable percentage of its value in no time. With crypto, on the other hand, you have relative control over the volatility rate depending on the currency you choose.
For example, stablecoins are cryptocurrencies that attach their value to conventional and stable fiat currencies. For example, Celo Euro (cEUR) is a cryptocurrency linked to the value of the Euro, and Tether (USDT) is linked to the value of the US dollar.
How to find the best crypto to offer
Choosing crypto as a gift over cash or a conventional giveaway still requires some effort on your part. After all, there are thousands of cryptocurrencies you can research, many of which excel in a specific area.
Choose the right currency
Choosing the right crypto to offer depends on various factors. For example, is it an investment for the benefit of someone else? Or is it something to help them on a rainy day?
Maybe it is pocket money for shopping online. In this case, it is better to stick with more traditional pieces.
Use the right wallet
Most traditional crypto wallets stick to the borderless approach to cryptocurrencies and offer services in as many countries and regions as possible.
The perfect wallet is one that’s available to both you and the person you’re sending the gift to, with low transaction fees, and with whatever cryptocurrency you have in mind.
Making crypto giveaways the new normal
For a long time, giving someone money as a gift was considered rude and a dodge on your end. But this is no longer the case. People now prefer to save the gift money or choose a gift personally.
Talk to your friends and family and see what they think about receiving crypto instead of cash. Who knows, you might end up introducing your social circle to a fun new concept.
Learn all about Bitcoin and cryptocurrency without the confusion
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About the author Anina Ot (87 published articles)
Anina is a freelance internet security and technology writer at MakeUseOf. She started writing about cybersecurity 3 years ago in hopes of making it more accessible to the average person. Eager to learn new things and a huge astronomy nerd.
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