Have you already started to think about the Christmas presents that you would like to give to the people around you in 2021? Are you having a hard time coming up with cool, nice, useful, and original ideas? In this article, I would like to tell you about one of the coolest Christmas presents that you can give to yourself and to the people around you, and probably one of the most valuable Christmas presents that you can give in 2021. What do I mean?
What do you know about cryptocurrencies? Maybe you don’t know anything at all? Maybe you have read an article about Bitcoin being the biggest and most famous cryptocurrency, but besides that, you know very little. Maybe you have considered investing in cryptocurrencies, but you have never really dared to take the final step actually buy Bitcoin or some other cryptocurrency? Maybe this is the time to take the next step and actually have some fun. It is going to be interesting, not only for you but also for the people to whom you give the gift.
Why is it so “cool” to give cryptocurrencies as a present?
It is a cool gift to give, simply because it is different. It is also a present that will last for a long time. In other words, it is not like a bottle of wine that you drink and then throws away the empty bottle. Instead, this is a present that you can give away, and it can cause excitement, fun, tears, joy, sadness, and all the more in the coming months and years. And who knows? Maybe the receiver will turn into a millionaire one day because of your present? The possibilities are so many. Just think about the fact that you could buy 1 Bitcoin for 1 USD in 2011. Ten years later in time, the price of one Bitcoin is more than $40,000. Of course, there is no guarantee that this will happen again. Maybe the price of 1 Bitcoin in 2031 will be $1? Or maybe it will be $1,000,000. The possibilities are endless. But, it is for sure interesting.
And do not forget that you do not have to give away 1 Bitcoin. It is possible to buy as little as 0,00000001 Bitcoin. Or you can do buy a so-called Altcoin, an alternative coin. There are several thousand cryptocurrencies on the market, and many of them have great potential. In other words, you could buy a tiny amount of Bitcoin, or you could buy other cryptocurrencies such as Polkadot, Cardano, Solana, Cosmos, Ethereum, Litecoin, Vechain, or some other cryptocurrency instead. And to be honest, it sounds cooler to receive 10 Polkadot tokens than to receive 0,0000001 Bitcoin, doesn’t it?
In other words, if you want to give away a cool Christmas present in 2011, I suggest that you give away some cryptocurrencies to someone that you love and hold dear!
How can I give cryptocurrencies to someone for Christmas?
Now it is time to get into the actual process of giving away cryptocurrencies to someone for Christmas. There are several options and opportunities. But, let us, first of all, use the starting point that you want to give cryptocurrencies to someone who does not own any cryptocurrencies today, meaning that they do not really have any clue about how it works, how to store cryptocurrencies, and so on. What can you do then?
Here I will describe several options that you might find interesting and useful!
1. Give them a Nexo account with funds added to it!
Nexo is a sort of bank for cryptocurrencies. Here you can store funds, you can buy funds, and you can receive a very nice interest in the cryptocurrencies that you store on the platform.
There are two ways in which this can be done. The easiest option is for you to create a new Nexo account with an email address created for this purpose only. Later you will give the email address and the password of the email address to a lucky person as a Christmas present. Now you can log on to the Nexo platform and you can buy cryptocurrencies immediately. All cryptocurrencies stored on the platform will generate high interest, meaning that the size of the portfolio will grow every single day.
Now you can write a little letter and wrap it with some nice paper. When the person opens the present they will find the link to the Nexo website with the email address and password that you have created. As they log in to the website, they will see the value of the portfolio (the cryptocurrencies that you have bought for them). You should probably recommend the person to change the password (if they want to keep you out in the future) and they should also enable 2FA to add an extra layer of security in the future.
2FA is a so-called 2-factor authentication. This means that you will have to type in an additional password (from a password generator on your phone) in addition to the normal log-in password on the website.
The person can easily install the Nexo application on their cell phone as well, making it easy to follow the portfolio value at all times of the day.
You should of course create a Nexo account yourself as well, just to give it a try and see how it works. If you do that, then you can also purchase cryptocurrencies with your own account and then send them to the Nexo account of the other person(s) at no additional cost.
2. Buy a hardware wallet (with or without cryptocurrencies)
A hardware wallet is an actual digital wallet that you can give to a person. This is an ideal solution for those who want to store their cryptocurrencies without the risk of others stealing them. There are different hardware wallets available on the market, but one of the easiest and best to use is the SafePal wallet. I have written about that in an earlier post here in the IP Address Guide.
If you want to choose a different kind of hardware wallet for cryptocurrencies, then I can warmly recommend Trezor or Ledger. These are both fantastic wallets and they look very nice as well.
You should be aware of the fact that it often takes quite a while for the delivery of such hardware wallets to arrive, meaning that you should probably place your order latest in November if you have a hope to receive the actual package before Christmas in 2021.
If you decide to buy a hardware wallet, there are a couple of things that you should think about before you give them the present.
You can give them an empty hardware wallet and let them buy the cryptocurrencies themselves.
If this is what you would like to do, then all you have to do is to place an order for the cryptocurrency wallet and give it to the person for Christmas. The rest of the job will be theirs to make. You should, of course, buy a hardware wallet for yourself as well in order to see how it works so that you can help others by sharing your experience. However, you can only give the present and an un-opened hardware wallet to some lucky persons.
You can give them an empty hardware wallet and tell them that you will send them some cryptocurrencies after they have set it up.
This is a second option that is even nicer. It takes a little bit of work to get started with the hardware wallet. First, you need to set it up, write down the passphrase (which is extremely important), and then set up a pin code and more. The passphrase is the actual key to the wallet, and if this gets lost and the hardware wallet should be stolen or broken, there is no way to access the actual cryptocurrencies in the wallet. If someone should steal the passphrase, they can easily steal all funds in the wallet. In other words, the passphrase is of vital importance, and you or the one to whom you give the wallet has to take very good care of it.
But, the good thing with a hardware wallet is that nobody will be able to move funds around unless they have access to your passphrase or to the actual hardware wallet.
- You have given the hardware wallet as a Christmas present.
- The person has opened the package, done all the configuration, and it is working.
- Now you can ask the person to send you deposit addresses for the tokens that you would like to send (for example, BTC, ETH, LTC, ADA, DOT, BCH, and more).
- You can send the person all the cryptocurrencies that you would like the other person to have.
This is the best solution if you want the other person to have 100% control of the device, without you interceding in any kind of way.
You can buy the hardware wallet, do the configuration, buy the cryptocurrencies, and then give it away.
This is a solution that will make it easier for the receiver to get started. But, it means that you will be the owner of the passphrase, and even though you give it away included with the present, this isn’t a 100% guarantee that you do not keep a copy of the passphrase yourself. If the receiver suddenly should lose their funds and someone has gotten hold of the passphrase, then you can easily turn into a suspect if the trust level isn’t very good. This shouldn’t normally be a problem, but you should take it into consideration before you choose this option.
Are you ready to celebrate Christmas with one of the coolest presents ever?
I hope you are ready to celebrate Christmas in 2021 with one of the coolest Christmas presents ever. Once again, I suggest that you buy the present yourself as well, as it will make it much easier to explain, help, and give advice to the lucky receiver.
Giving away cryptocurrencies for Christmas is present with potential, with risk, with joy, with laughter, and so much more. What are you waiting for?
Which cryptocurrencies should I give for Christmas in 2021?
This is a brilliant question. There are thousands of cryptocurrencies on the market, so which should you actually buy and give away to the persons that you love and hate? There are lots of advisors online telling you which cryptocurrencies to buy. If you decide to give cryptocurrencies connected to the Nexo platform, then you will have to give one of the cryptocurrencies supported by the platform, for example, Bitcoin, Ethereum, Polkadot, Tron, Litecoin, Tezos, Binance Coin, Bitcoin Cash, or Cardano. To be honest, all of these cryptocurrencies are safe bets, meaning that they all have a bright future, and they are what I consider to be quite safe investments.
If you give someone a hardware wallet, then you have a much bigger selection of cryptocurrencies to choose from. To be honest, I would still pick from the cryptocurrencies mentioned above, simply because they are among the biggest and most trusted cryptocurrencies, and also because they have a big potential in the future.
- Everyone owning cryptocurrencies should own a little bit of Bitcoin. You don’t have to give much Bitcoin, but at least some! The receiver might be happy about even that tiny amount of Bitcoin if the value of one Bitcoin should reach $1,000,000 someday.
- Ethereum, Cardano, Tezos, and Polkadot are very interesting blockchains that are increasing in popularity every single day. Ethereum has a value around $3000 at the moment, while Cardano ($2,5), Tezor ($5,5), and Polkadot ($28) trade at much lower prices. I would say that those coins have giant possibilities for radical growth in the coming years.
If you want to give some other cryptocurrencies with higher risk, but also the chance of quicker profit, then you can read more about StrongBlock and OlympusDAO right here.
What if the value of the cryptocurrencies should go to $0?
Let us say that you purchase cryptocurrencies spending $100 and store them on the Nexo platform and give it away. I expect the value of the investment to grow a lot in the coming years, but what if the opposite should happen? If you would spend $100 on a wine bottle, what would happen? You would drink it and the value is gone. It lasted for an evening! If you buy cryptocurrencies worth $100… what might happen? It might increase in value and be worth $1000, or it might end up being worth nothing in 5 years from now. What then? Instead of enjoying a bottle of wine for one evening, you have just given someone a rollercoaster lasting for five years. I would say it has been a fantastic present, no matter what.
What do you think? If you have any comments, questions, or further insight, please let me know!
