Majority of Americans Prefer Bitcoin as Christmas Gift

Christmas is nearly here, and individuals are already thinking about what to gift their family and other loved ones for the holiday season. While conventional presents like as electrical goods have been popular in the past, individuals are more interested in Bitcoin and equities this year.

According to a recent poll, consumers want a present that will carry on giving long after the holidays are over, as the days of giving iPads and gift cards appear to be passing them by. When it comes to financial investments, according to a report by MagnifyMoney, the vast majority of Americans favour them, despite the fact that retail investment in equities and cryptocurrency has risen this year.

With platforms like Robinhood becoming household names, the retail investing frenzy has been the driving force behind the Reddit-fueled “everyone against Wall Street” phenomena this year, which saw retailers propel GameStop, AMC, and Dogecoin to new heights while decimating institutional investors.

According to the findings of the survey, 65 percent of Americans prefer to receive shares or cryptocurrency as Christmas presents. According to the findings of the survey, which polled over 2,000 people, a quarter would choose an investment over a gift card.

Ismat Mangla, in his analysis of the data, said that individuals are now thinking more long-term and are looking for investments that have the potential to develop in value.

“I believe that people are thinking about money, for better or worse,” said Ismat, who works as a senior executive at LendingTree, the parent firm of MagnifyMoney, in a recent interview. “There’s nothing quite like giving a present that will continue to increase in value over time.”

Those looking to give bitcoins as gifts to their loved ones now have more alternatives than ever before, thanks to the introduction of convenient gifting options by top cryptocurrency firms. Coinbase, Square’s CashApp, Binance, and Robinhood all enable service customers to give bitcoin to their friends and family, regardless of whether or not the recipients have cryptocurrency wallets. Some companies provide an email gift card for people who do not have a cryptocurrency wallet, and after they have set up the wallet, they are able to transfer the bitcoin.

Additionally, a hardware wallet packed with cryptocurrency might be given as a present to someone special. Hardware wallets from companies like as Trezor and Ledger may be purchased for less than $50. A hardware wallet also provides an additional degree of protection for recipients who are unfamiliar with cryptocurrencies, something that a hot wallet would not provide in this case.

According to Ismat, this is a fantastic approach to bring in more individuals to the Bitcoin community. To learn about Bitcoin without having to invest your own money, receiving a gift is a wonderful idea, says the author.