How can I give away cryptocurrencies safely and easily as a gift?
Christmas, a birth, a wedding or a birthday is coming up and you want to give something special. In the process, it is becoming increasingly popular to give away cryptocurrencies like Bitcoin. Because these gain more and more importance and often also value over time. But what is the best way to give away cryptocurrencies?
Of course, you can generate a wallet for the recipient and give him the private key. This can be done in the form of a paper wallet or write the recovery seed in a card. However, this is cumbersome for both sides and requires some basic knowledge on the part of the recipient.
It is easier and more elegant to use a certain type of hardware wallet. These are wallets that act like a traditional banknote and often take the form of a credit card. An example of this is the Tangem Note. You can easily “load” them with cryptocurrencies via smartphone app and then give them away. The recipient can keep the card, give it away or later also spend the cryptocurrencies via smartphone or send it to a trading exchange of his choice, for example.
The major advantages of giving away cryptocurrencies this way are the following:
- the cryptocurrencies are certainly given away. Nobody knows the private keys. Whoever has the card is also the only one in possession of the cryptocurrencies. If, on the other hand, you generate a wallet yourself, the keys could be intercepted by a third party.
- you can give away something physical. The credit card hardware walletlike the Tangem Note are not expensive, high quality and definitely make a statement!
Of course, this comes at a further cost, but give away a great value of cryptocurrencies, the investment is definitely worth it.