Anyone interested in purchasing crypto gift cards can go to a Bitcoin gift card website. Getty Images
New Delhi, India: The art of giving gifts to your friends, family, and loved ones is changing. Apart from food, clothing, and other expensive products, crypto gift cards are rapidly gaining popularity, particularly among crypto aficionados.
Most individuals nowadays prefer monetary gifts than traditional tangible ones. People are becoming more aware of crypto coins and crypto presents as a result of the rise of digital currencies.
What Are Crypto Gift Cards and How Do They Work?
Crypto gift cards are similar to gift cards used in stores. Anyone interested in purchasing cryptocurrency gift cards can go to a website that sells Bitcoin gift cards. He must first purchase and pay for Bitcoins of his choice. He will be given a gift card, which he can give to the person to whom he is giving the gift. One thing to remember is that the recipient (for whom the gift was purchased) should have a cryptocurrency wallet. Users may buy gift cards from companies like Coinbaazar ,Coinbase, Binance, CashApp, and Robinhood.
What Is The Best Way To Redeem A Crypto Gift Card?
To redeem crypto gift cards, the recipient must first set up a crypto exchange or digital wallet if they do not already have one. Wallets are divided into two categories: paper wallets and hardware wallets.
Paper wallet
A paper wallet is a piece of paper with keys and QR codes for bitcoin transactions printed on it. On specialised websites, these wallets are created. A paper wallet, which contains both the public and private keys, can also be used. Create a paper wallet on a website and mail it out as a present. By scanning the QR code, anyone can obtain the cryptocurrency you purchased. The recipient can acquire cryptocurrency using the QR code by scanning the piece of code given.
Hardware wallet
A hardware wallet is often referred to as an offline wallet. The data can be saved on a portable device, such as a USB stick, in this case. These wallets can be purchased through crypto exchanges online. After purchasing Bitcoin, a person should keep a record of the private key and other information needed to complete the transaction. Give the device to the person who will be receiving it. The receiver can use the key to unlock and authorise the transaction, as well as receive the gift.