Each person who receives cryptocurrency becomes a member of a community already numbering in the millions, with common goals, interests and plans. But how can you find the right gift for the crypto enthusiast in your life when the holidays come around?
It’s no secret that people struggle to choose gifts when they want to meet the expectations of another person. This holiday season, Cointelegraph has put together a list of crypto gifts that crypto hodlers will appreciate.
Crypto
It may seem too simple, but it can be difficult to find someone who refuses investments with great value. One option for a gift this holiday season is the gift of crypto.
But how can you present a crypto gift to the lucky recipient? Here are a few ways:
A direct wallet transfer is the easiest option. If this is done directly on Christmas Eve, the surprise will turn out quite well. The problem is that the recipient must have a wallet, and the sender must know their address to transfer, so this method may not be suitable for everyone.
Hot wallet. Since no personal data is needed to create a software-based hot wallet, gift-givers can easily create a wallet, deposit the necessary crypto, and transfer it to the recipient.
Cold wallet. A cold wallet is a physical device akin to a thumb drive that stores your crypto. They are considered the safest way to store cryptocurrencies because they provide offline storage without an internet connection. To make a transaction, the user should have a PC or smartphone and a hardware wallet.
5/ Cold wallets
A more secure solution for long term investments and NFTs. These are offline, USB-like devices that never share private keys with your computers. Store the bulk of your holdings on these.
I use Ledger Nano X. Other options are Trezor and the GridPlus Lattice1. pic.twitter.com/YNxzYhZ9F9
— Cantino (@chriscantino) October 4, 2021
As a gift, this is a great option; it can be beautifully presented and made a surprise. The only thing is that the presenter will have to spend money not only on the cryptocurrency but also on the carrier.
Paper wallet. This is a subspecies of cold wallet since all data implies physical storage. The user should create a wallet on bitaddress.org (no data is needed for this). After that, they receive two QR codes: one is a wallet address and the second is a private key for transfers. The presenter could simply copy the codes electronically or print multiple copies. It is very important not to lose these codes because, without…
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