When it is time to start thinking of making gifts, few think of a digital asset approach. However, that is sad, since cryptocurrencies are not just a method of skimming some profits on a newfangled industry, but also a practical means of payment in the modern world. Bitcoins are also a currency, albeit digital, that can alleviate many of the thoughts of what to buy presents with. In today’s market it is not only possible to buy BTC with a card, but also give such a card to another person as a gift and allow them to dispose of the funds located on it.
Digital Gifts Reinvented
The digital asset gifts industry has extended its tentacles well beyond the blockchain and is now touching various markets, brands, and even concepts of the global economy. The blockchain and its application is literally being shoved into every fathomable and unfathomable scenario. It is therefore easy to imagine Bitcoin being used as a means of payment for virtually any kind of good or service. To use BTC with a card and buy such a card is not that far-fetched either, as the global financial industry’s gateways have long been integrated into the cryptocurrency sector. Anyone can now even resort to blockchain-based financial infrastructures and acquire a prepaid card that they can use to buy goods and services with Bitcoin stored on it.
As such, a card with Bitcoin on it, even in a small amount, can allow its holder to buy anything at retail outlets, since it is prepaid. Other digital coins can also be purchased with such a card if it is incorporated into an exchange as a means of transacting that the holder passes the necessary Know Your Customer procedures.
Where Applicable
The fact that over 17,000 retail outlets and online merchants around the world accept Bitcoin make it an ideal means of both making an impression and making a practical present when deciding on what kind of gift to offer a loved one or an acquaintance. The recipient of the card will not even need to have a wallet and knowledge of the cryptocurrency industry, of digital coins. The gift card will be delivered with an envelope containing a PIN code and access credentials that will give the holder access to a prepaid wallet account with a certain amount of cryptocurrencies. Better still, some gift cards with Bitcoin come with the ability to cash out the assets contained on it through ATM devices located around the world.
Indeed, many cryptocurrency financial infrastructures provide ample opportunities for issuing bank cards that support VISA and MasterCard gateways. Such convenience comes with the usual application scenarios of traditional bank cards, since cryptocurrency bank card operators are striving to blur the line between blockchain-based bank card usage and the conventional banking industry. The reasons for such a strive are simple the users will not be frightened by the innovative nature of crypto, since they will see traditional and familiar online banking application interfaces and cards. The only thing that will be changing is the assets that will be displayed on account balances. In fact, some digital asset bank card operators allow their users to display fiat currencies in their balances, with the exchange rates changing dynamically in real-time based on aggregated pricing data.
How to Acquire
A wide range of digital assets can be uploaded onto a prepaid bank card that can be offered as a gift include Litecoin. The given asset is also very popular among retailers thanks to its high liquidity and the ease with which it can be stored on multiple wallets. Not all merchants are willing to accept any kind of cryptocurrency, since the type they can receive will depend on the list of supported assets provided by their merchant service provider that connected them to the payment system.
Ethereum is just as popular as Bitcoin, in large part thanks to its broad availability and the fact that it has a much lower entry barrier. The prices on many assets have been going down in recent months due to a series of scandals and the global economic depression. However, the relevance of gifts has remained, despite the gloomy economic and geopolitical outlook that many are projecting for the given year and many years to come in a pessimistic scenario.
However, even in times of crisis, people look for joy and a chance to give a smile to their loved ones. There is no better way to achieve that than through a gift, an innovative and creative one. Cryptocurrencies allow such gifts to be made in a very interesting fashion through prepaid cards. However, those resorting to such an innovative means of gifting should bear in mind that not all brands support crypto purchases. The best option in this case would be to attach a list of possible retail outlets and merchants that can accept the digital coins stored on the prepaid gift card.
- The benefits of gifting digital currency cards are many:
- Creative approach;
- Actual usability;
- Wide range of accepted retail outlets;
- Versatility;
- Wide choice of asset options.
Key Takeaways
Gifts have formed the backbone of good relations among friends and family throughout human history. As a token showcasing love, caring, devotion and remembrance, a gift is a good way of reinforcing relations and offering much-needed joy in times of hardships. Cryptocurrencies have entered the gift industry as well, providing well-wishers an innovative and creative way of making a statement that will surely last.
