5 Reasons to Give Bitcoin as a Christmas Present to Your Loved Ones
The holiday season is a time to unwind and relax, but for many, it comes with the added pressure of having to find the right presents for your loved ones. While it may seem strange to consider giving your loved ones bitcoin as a present, it actually makes for an excellent Christmas present.
The value of the present may increase substantially over time
The value of bitcoin has seen tremendous growth over the course of this year. Ascending from $1,000 on January 1 to hitting the $10,000 milestone at the end of November, it seems like bitcoin really is heading “to the moon.”
While the digital currency has already rallied massively in the past year, all signs point to continued growth with some speculating the value to get to $40,000 in 2018. Given the number of institutional investors interest bitcoin has received in the past few months, this price target does not seem so unrealistic now.
Due to the fact that the value of bitcoin is expected to continue to rise, giving bitcoin as a present may allow your loved ones to generate a return on their Christmas present, which is not something you can say about a tie, a sweater or a scarf.
It will expose them to a new technology
Gifting bitcoin to your loved ones will expose them to the concept of digital currencies and will teach them about Bitcoin’s underlying blockchain technology.
Not only is it good for them to learn about how cryptocurrencies and the blockchain work, as these two new technologies will likely play major roles in society in the future, but it also enables them to join in on the conversation about bitcoin.
Bitcoin and cryptocurrencies, in general, have become one of the most talked about topics today due to the increasing media coverage they have been receiving in 2017. By making your loved one’s bitcoin holders, they can now join in on the conversation, which especially the older generation will enjoy as they love being “in the know” with what the kids are up to these days.
They will appreciate the time you spend with them explaining to them how bitcoin works
Once you decide to gift bitcoin to your loved ones, you will need to explain how they can use the cryptocurrency. From deciding which wallet is best for them to use to how sending and receiving bitcoin is done, there is a substantial amount of knowledge to be acquired before one can use bitcoin easily.
Though this information is readily available on the Internet, you can give your loved ones the gift of your time and go through the whole process with them. In addition, you can use this time to extol the virtues of the technology. This will make it more likely for them to do their own research in the future and keep up with the happenings surrounding bitcoin and blockchain technology. It may even encourage them to invest some of their money into other promising cryptocurrencies.
Your present will definitely stand out from the rest
Christmas presents can easily slip into a quickly forgotten pile of items that no one ever uses or looks at again. Bitcoin, however, is a present that will definitely stand out when everyone is opening their presents under the tree.
In addition, your loved ones will appreciate the thoughtfulness behind a present like bitcoin as it has a number of benefits. These include expanding their knowledge base and challenging their mindsets in the concept of money and value. It also exposes them to new methods of transferring money as well as a new way to store value. There is also the added benefit of learning about the blockchain and how they can apply it to their lives as well as all the changes the technology is effecting in many industries across the globe.
If they don’t like it, they can use bitcoin to buy whatever they want
Should you face resistance from your loved ones once you have gifted them with bitcoin and explained how it works, then there is a saving grace. The recipient does not have to be stuck with a gift they do not like or will never use. With bitcoin, this is fixed quite easily. It is just a matter of converting the cryptocurrency back to fiat currency and then cashing it out. Cashing out is a relatively simple process, and they can then use the money to buy whatever they want.
However, they do not have to turn their bitcoin into fiat currency to be able to use it. There are a number of online retailers who accept bitcoin as a form of payment such as retail giant Overstock, the travel booking agent Destinia, and even Microsoft. In addition, it is also possible to load bitcoin onto a prepaid bitcoin debit card which can then be used for in-store purchases anywhere where cards are accepted.
Giving your loved ones bitcoin is a novel way to introduce them to cryptocurrencies and keep them abreast with the developments in the financial technology space. Moreover, everyone appreciates a present that can potentially grow in value the longer they keep it.
So, instead of giving your father the hundredth tie, your mother the millionth scarf and your siblings whatever you found on Amazon for less than $20, give them some bitcoin as a Christmas present instead and do your part in spreading bitcoin adoption.