How To Gift Someone Cryptocurrency This Holiday Season

Emma -

With 1 billion of the 7.8 billion people on this planet using cryptocurrencies in 2022, and two countries formally legalizing Bitcoin, digital currencies are no longer a thing of the past. As they continue to integrate into the greater financial landscape, why not tap into the market and give a unique gift this holiday season?

If you’re looking to give the gift of crypto and learn how to gift cryptocurrency, Oobit is the perfect platform for those new to crypto. It simplified crypto for its users, offering seamless crypto transactions, easy payment options when purchasing crypto, and 24/7 customer support. So if you're looking for a way to stand out this holiday season, give the gift of crypto with Oobit!

Learning how to gift someone cryptocurrency might sound tedious, but with Oobit we’ve made it so simple your gran can do it.

Transfer crypto quickly to your friends and family, wherever they are in the world. All you need is a phone number, it's hassle-free and charge-free. Purchase Bitcoin, Ethereum, or any of the other supported crypto coins in only a few minutes and send them to your loved ones instantly. If they haven't downloaded the Oobit app yet, they will receive a text message letting them know the funds are waiting for them, all they need to do is download the app.

What Should You Consider When Giving Crypto as a Gift?

Bitcoin is crypto’s caviar as the choice for gifting and receiving, with a close second being Dogecoin followed by Ethereum, according to data from multiple institutions. Experts recommend sticking to Bitcoin and Ethereum for gifting as it provides an excellent long-term investment as well as a widely accepted payment option. As always, it's important to do your research, and understand all of the risks.

There is a growing number of crypto-curious people out there so learning how to gift someone cryptocurrency might be the greatest thing you learn this year - for you and your recipient.

Below are several things to consider when learning how to give cryptocurrency as a gift:

Tax Implications

According to the IRS, as long as your gift is under the value of $16,000, it falls under the 2022 gift tax allowance and has no tax implications. That means that if you’re in the United States you don’t need to pay any tax when receiving the gift. Be sure to check the tax rules in your jurisdiction.

Fees

When buying crypto you pay a transaction fee to the network. These fees can go up or down depending on the network, the number of transactions at the time, and liquidity. Before finalizing your purchase, this amount will be presented to you. If it’s very high, consider coming back to it a while later and see if it has gone down.

The same applies to sending cryptocurrencies, however, with Oobit we offer instant transactions with zero fees saving you money on transaction fees typically associated with sending crypto.

Sending and Receiving Crypto

So you’ve bought the crypto, now what? All you need to do is select Pay in the Oobit app and enter the phone number of the recipient - we will take care of the rest. The recipient will then receive an SMS to let them know that the funds are in their account, and how to access them.

Here’s how it all works.

How To Gift Cryptocurrency

This is probably the easiest way to send gifts this season. We don't always know what our friends and family like so why not give them something that could grow? Or something they can spend on what they want.

How to give cryptocurrency as a gift:

  • Download the Oobit app and verify your account (under 5 minutes)
  • Purchase the cryptocurrency you wish to gift or transfer the funds into your Oobit wallet
  • Select Pay
  • Enter the recipient's phone number
  • Send the gift!

It's that simple! Your loved one will receive an SMS notification about their gifted crypto and simple instructions on how to claim it.

In Closing

No matter your gifting approach this holiday season, learning how to gift cryptocurrency will probably be the most lucrative thing you do. Empower your loved ones with a financial gift they can choose to hodl or spend.

Oobit Technologies Pte, 50 Raffles Place #37-00 Singapore Land Tower, Singapore (048623). is a company registered in Singapore (no:201716443G), that has been approved as Appointed Representative of Oobit Technologies OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415, (no: 14852617 ). Which is authorized and regulated by the FIU (no: FVR001421 and FRK001304).