Gifts are the perfect way to make your loved ones feel appreciated on a holiday or their birthday, or maybe to congratulate them on a recent achievement. But choosing the right gift can be a tricky task.
From finding something occasion-appropriate to actually gifting a friend or family member something they'd want, finding the right gift is a lot of work.
Instead of worrying over nothing, here are five reasons why crypto is the perfect gift.
1. Crypto Is Just Like Cash but Better
Most of the time, letting someone pick their own gift is the perfect option, especially if you're not particularly close and worried you might end up getting them something they don't like.
Gifting someone cash or a prepaid gift card is the best way to help your friends and family get everything their hearts desire without straining their wallets. But instead of sending them an envelope full of cash or asking 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 still show that you care about them.
For example, Bitcoin and Ethereum are great for someone already into investing. However, they are incredibly volatile and can increase (or decrease) in value at any time. Alternatively, a currency like Tether is one of the most stable Cryptos out there and makes a great alternative for cash.
2. Crypto Works Perfectly Overseas
Despite having an interconnected network of banks and financial services on a global scale, sending money overseas is still far from efficient.
For one, using the mail to send cash comes with a degree of risk and has strict regulations if posted internationally. The same applies to 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 internationally if you or your family and friends live abroad. While most crypto wallets still charge a transfer fee, it's small relative to conventional currencies digital wallets, wire transfers, and direct cash transfers like Western Union.
With crypto, you're free to send funds anywhere regardless of geographical location and borders. And in addition to being faster than conventional transfers, you also don't have to worry about the varying currency exchange rates.
Furthermore, crypto transfers work 24/7. That way, you can make sure your crypto gift can reach the person right on their birthday, as a specific holiday turns around in their local time zone or as soon as they deliver the good news.
3. Crypto Is an Investment
While there's no investment without risk, crypto isn't a single entity. Different cryptocurrencies differ in their investment value and risk.
Choosing the right cryptocurrency to gift a friend or family member is an excellent way to stretch your dollar if you're short on funds yourself. By choosing to send a relatively safe and growing currency as a gift, it can increase in value in a matter of a few weeks to a few months.
This could even be a way to safely introduce someone into the world of crypto investment. After all, the first step is often the hardest. By using your funds to invest under their name, they could experiment with different cryptocurrencies and various exchange markets online. Playing with "house money" is always easier than your own!
4. Crypto Enables Easy Online Shopping
Crypto is gradually becoming incredibly popular with online retailers. If the special person you have in mind loves buying clothes, games, gadgets, and trinkets online, crypto is a great way to keep the money in the digital form and avoid as many fees as possible.
With crypto, they'd be able to shop on a variety of sites without having to pay a currency exchange when purchasing from a different country.
5. Crypto Offers Controlled Volatility
All currencies are volatile but in drastically varying degrees. But if you're sending someone money as a gift in a conventional currency, you're more or less limited to the currency of the country they reside in.
While this may not be an issue in most locations, 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 instance, stablecoins are cryptocurrencies that tether their value to conventional and stable fiat currencies. For example, Celo Euro (cEUR) is a cryptocurrency that's pegged 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 Gift
Choosing crypto as a gift instead of cash or a conventional gift still requires some effort on your end. After all, there are thousands of cryptocurrencies out there that you can research, with many excelling in a specific area.
Picking the Right Currency
Choosing the right crypto to gift depends on a variety of factors. For example, is it an investment for someone else's benefit? Or is it something to help them out in case of a rainy day?
Maybe it's pocket money for online shopping. In that case, sticking to more mainstream coins is best.
Using the Right Wallet
Most mainstream crypto wallets stand by cryptocurrencies' borderless approach 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, has low transaction fees, and carries the cryptocurrency you have in mind.
Making Crypto Gifts the New Norm
For a long time, giving someone money as a gift was considered rude and a cop-out on your end. But that's no longer the case. People now prefer to either save the gift money or choose a gift personally.
Talk to your friends and family and see how they feel about receiving crypto instead of cash. Who knows, you might end up introducing your social circle to a new and fun concept.