Tags: holiday | bitcoin | gifts | christmas

Holiday Bitcoin Gifts Expected This Year

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By    |   Monday, 11 December 2017 09:16 AM

Holiday Bitcoin gifts are bound to make their way under the Christmas tree this year, CNBC reported, noting the attention they've drawn with their steep rise in value.

In the last 12 months the Bitcoin Investment Trust Shares have increased tenfold in value, Forbes noted, with MarketWatch noting that each coin is worth over $15,000.

Considering its dramatic rise in popularity and value, the digital currency could be the ideal stocking stuffer for some this year. But don't worry, you do not have to buy an entire Bitcoin to earn brownie points with your loved ones.

CNBC suggested buying part of a bitcoin, which can be used wherever the cryptocurrency is accepted, or it can be held onto in case its value continues to skyrocket.

Giving the gift of Bitcoin saves you from going to the malls and facing crowds. There also are some pitfalls including the currency's volatility and the possibility of scams, MarketWarch warned, noting that using an established exchange or purchasing platform such as Coinbase, LocalBitcoins.com or Coinmama is recommended.

To get started, CNBC recommended downloading the Coinbase app from the iTunes App Store or Google Play Store and create an account.

You will also need to ensure that the recipient has Bitcoin wallet, like Coinbase, to store their new currency. On the home screen there will be a "Buy" option, which will prompt you to add a payment method. You can select an amount to buy and send it to a recipient's email or Bitcoin address.

The private key, or unique set of letters and numbers used to send bitcoin, can also be presented to the recipient in any form, such as written in a card or engraved on jewelry, MarketWatch noted.

It is a simple process but David Johnson, CEO and founder of Latium, a tasking platform based on a cryptocurrency, advised you make sure the person receiving the gift is interested in entering the crypto craze.

"It can be a great way to introduce them to something that's a big part of your life," he said, per MarketWatch. "However, it's always important to resist the urge to use gift giving as an opportunity to proselytize a technology that excites you about but the recipient doesn't care about."

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Holiday Bitcoin gifts are bound to make their way under the Christmas tree this year, CNBC reported, noting the attention they've drawn with their steep rise in value.
holiday, bitcoin, gifts, christmas
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2017-16-11
Monday, 11 December 2017 09:16 AM
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