HomeInformativeGive Cryptocurrencies As A Gift To Your Loved Ones: Know Here How...

Give Cryptocurrencies As A Gift To Your Loved Ones: Know Here How To Do That

The trend of gifting books, clothes or attractive items to friends and family is changing nowadays. Apart from these things people got more concerned about getting financial gifts. Gifting cryptocurrencies can be the best way to boost their financial wealth. But how to buy crypto gift cards or redeem them will always bother everyone.

So, here we help you out with this.

What Are Crypto Gift Cards And How To Buy Them?

how to buy crypto gift cards
via: Crypto News

Crypto gift cards work like retail gift vouchers that you can gift to anyone. One can simply buy and send them by any website that sells crypto gift cards. First, he has to select cryptocurrency and pay the amount. He will receive a gift card that he can send to anyone.

Many of the platforms like Coinbase, Binance, Cashapp or Robbihood provide a simple and secure method to purchase them.

Also Read: What Differentiate RBI’s Digital Rupee With Bitcoin and Other Cryptocurrencies?

How to Redeem Crypto Gift Cards?

how to buy crypto gift cards
via: newswire.com

The receiver should possess a digital wallet to redeem cryptocurrencies in their account. He can simply fill in the details on the same website and currencies will be credited to their wallet. There are two types of wallet:

1. Paper Wallet

Paper wallet is a printed page that contains keys and QR codes for transactions. This wallet will be generated on a specialized website. One can easily redeem crypto gift cards by scanning the QR code.

Also Read: KYC In Cryptocurrency: What Are The Benefits, Risks And Challenges Involved With It

2. Hardware Wallet

A hardware wallet is an offline wallet that stores data on a portable device like a USB stick. It is observed safer than online wallets. The buyer should buy it online from crypto exchanges and note down the private key. By using that private key, one can receive the currencies into their wallet.

Also Read: How Much Does it Cost to Develop a Crypto Wallet App?

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