Are you bored with gifting the same things like perfumes, wallets, etc., on special occasions? What about gifting something different like Cryptos? Isn’t it cool? You can also give cryptos to someone as a gift without worrying much. Confused how? Don’t worry! Here is a post on ‘How to send crypto as a gift.
Did you hear the super cool story on Reddit? It was about a pizza delivery boy who received a tip worth 0.0069 BTC. He held the crypto gift for around seven years and earned a massive profit of 400 USD! Wasn’t that huge? Well, that was! You can also help someone in the same manner!
There are various benefits of sending crypto as a gift. There won’t be any supply chain issues. Any amount of cryptos can be gifted, the value of the crypto may increase in the future, the gift receiver can easily trade it, and many more things.
You can give them cryptos as a gift and send them a gift card and a personalized message. Confused about how to send crypto? Let us dive straight into the post and see how to send crypto as a gift to someone!
How To Send Crypto As A Gift?
You can use various platforms for sending cryptos as gifts to someone. We will tell you how to send crypto as a gift using Coinbase as an example. You can do this using a PC or a smartphone. Let’s see what steps are in doing this.
Step 1. Sign In
The first step is to go to the Coinbase website and sign in by filling in your account details. Once you have logged in, let’s see what the next step is.
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Step 2. Send Gift
After signing in, navigate to the left side, and you will find an option of Send A Gift below the invite friends option. Tap on it, and a pop-up will open.
Step 3. Add Amount
A new window will open up to write the amount you want to send as a gift. You can choose any amount out of the available amount in your Coinbase account.
Step 4. Email
Then below the amount, you will find the Gift to option. You can choose the email address you want to send the cryptos to as a gift. Be careful while writing the email address as the amount will not be recovered if sent to the wrong email address.
Step 5. Message
After writing the email address, you will find the Personalize option. You can write any note or message for the person you are sending a gift to. You can also add a card by clicking on Add a Card option. Choose a card that you like out of the ones available. Then press Select and then tap on Continue.
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Step 6. Pay With
Step 7. Gift Now
Once done with all the above things, click on Continue and confirm all the details mentioned are correct or not. Finally, click on Gift Now, and you are done. The other person you are sending crypto as a gift to will receive an email with the gift.
It is not important for the other person you are sending crypto as a gift to have an account on Coinbase. They will receive the email and the gift card. They can sign in by using that link and the amount you have sent will be added to their account.
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So, now we would like to wrap our post on ‘How to send crypto as a gift’. We have explained the steps you require to follow to send crypto as a gift using Coinbase. Various cryptocurrencies like Bitcoin, Shiba Inu, etc., can be sent as a gift to someone. You can choose other platforms like Gemini, etc., for sending cryptocurrency gifts. You can also try sending a gift to your loved ones following the above-mentioned steps!
Frequently Asked Questions
Q1. Can You Send Someone Crypto?
A. Yes, you can very easily send cryptos to your friends, relatives, or anyone else.
Q2. Can I Gift Crypto To My Child?
A. You can give cryptos to an adult kid. Many exchanges or brokerages do not allow you to create an account for someone below 18 years of age.
Q3. Is Transferring Crypto From One Exchange To Another A Taxable Event?
A. No, if you are moving crypto from one exchange or wallet to another wallet that you own is not a taxable event.