How To Gift Cryptocurrencies?
Fintech nerds have been embracing the notion of digital currencies for a very long time, but now this concept is not just limited to such people. You can visit https://nft-prime.org/ to learn about cryptocurrency trading calls. Even people from developing countries know about BTC and ether. People who don’t know the term cryptocurrencies know about bitcoin as it is the favorite part of the digital currency community. People’s perspective in terms of digital currencies is not similar as it changes according to market conditions.
Environmentalists have addressed the bear case of digital currencies by pointing out greenhouse gas emissions due to cryptocurrency mining.
Digital currency users who are more bullish about digital currencies concentrate on digital currencies’ positive outcomes and points. Today cryptocurrency is a famous asset to gift to your loved ones, and a few people know how to do that without getting scammed. So here is a complete procedure on how to gift cryptocurrencies to anyone without getting scammed.
Key Takeaways!
When it comes to assets that you can gift to people, cryptocurrency tops the table as you cannot gift stocks to people, and gifting precious metals like gold and silver seems more expensive than gifting a cryptocurrency. However, the best thing about gifting cryptocurrency is that you can gift any proportion of digital currencies to anyone.
Since cryptocurrencies have become more accessible, the ease of gifting these assets to people has increased drastically. In short, numerous service providers allow you to gift cryptocurrencies to people. In addition, you can directly purchase a cryptocurrency gift from any trusted website, but you have assured that the platform you are choosing is legit.
After purchasing the gift card, you should always avoid storing that card in a virtual place. In addition, you should always avoid sharing any information regarding that gift card through your mobile phone.
One of the prominent advantages of gifting these cryptocurrencies in contrast to any other asset is that gifting digital coins are not subjected to any taxation. The receiver of such gift cards is merely levied with a tax when they decide to sell the available digital currencies. For example, if your friend gifted you half BTC from a cryptocurrency gift card, you and your friend don’t need to pay any taxes sending and receiving the digital currency gift card. But when you decide to sell half BTC you availed from that gift card; you will have to pay some tax.
Why is cryptocurrency best for gifting purposes?
People usually gift liabilities to their loved ones, and their value declines with time. However, cryptocurrencies are classified under the category of assets that have a great return on investment potential. Moreover future of such currencies is also bright. Not only BTC, but you can also choose from 20000 other cryptocurrencies to gift. If you are not very much into cryptocurrencies, always stick to the utmost basic digital currencies when it comes to gifting.
How to gift cryptocurrencies?
Gift cards!
The most frequent and widespread way to gift digital currencies to anyone is to utilize a digital currency gift card. People from dedicated cryptocurrency card websites can only avail digital currency gift cards. There are few digital currency gift cards generated that have been classified under the category of trusted platforms, and you should avoid using any random cryptocurrency gift card generator.
On a cryptocurrency gift card website, you merely have to opt for the digital currency you are willing to gift, and after this step, you have to pay for the number of cryptocurrencies you want to gift. After paying for the digital currencies, the service provider will generate the desired gift card for you to incur a specific amount of digital currencies. You can redeem these gift cards like the standard gift cards, but rather than storing information on cryptocurrency gift cards online, you need to store them in a physical safe or vault.
Exchange!
Undeniably you cannot gift cryptocurrencies using a digital currency exchange, but you can purchase any digital currency and send it to the person you want to gift. In short, with a cryptocurrency exchange, you cannot convert digital currency into a gift card. Still, it is an easier way to gift digital currency as the exchange fees are way lesser than a digital currency gift card generator.
The above-listed portion explains all about how to gift cryptocurrency to people.
