How to Give Bitcoin or Another Cryptocurrency as a Gift – Motley Fool

Cryptocurrency may be the gift that keeps on giving.

If you're looking for a gift that's both different and practical, cryptocurrency could be a great option. Over 14% of Americans already own cryptocurrency and digital currencies edged even further toward mainstream adoption in 2021.

However, it won't be the right gift for everybody. Before we get into how to buy crypto as a gift, let's first consider some of the pros and cons of gifting digital currencies.

If you've weighed the pros and cons and are sure you want to go ahead with a crypto gift, follow these steps to make it happen.

There are thousands of different cryptocurrencies on the market. But it makes sense to stick to the better known coins like Bitcoin, Ethereum (ETH), Cardano (ADA), or even Solana (SOL) as a gift. You might also consider a stablecoin -- a crypto that's pegged to a commodity like the U.S. dollar -- which has lower transaction fees.

The cryptocurrency market is relatively new and untested, and there's a good chance only a limited number of tokens will survive in the long term. Given that the lucky recipient of your crypto gift may not want to actively trade it, a more-established coin or stablecoin is a better bet.

There are a few different ways to gift crypto -- just as there would be if you were giving someone cash. You'll need to buy the cryptocurrency before you gift it:

If the lucky recipient of your crypto gift doesn't yet know their blockchain from their supply chain, you might have some explaining to do. The most important thing is to make sure your recipient understands how to securely store their crypto gift -- and where they can learn more if your present has got them interested.

Cryptocurrency gifts won't be right for everybody. But if you're an enthusiast who wants to put some crypto under the Christmas tree, the steps above will help you do it.

The rest is here:
How to Give Bitcoin or Another Cryptocurrency as a Gift - Motley Fool