What Are Crypto Gift Cards? How Do They Work?
Cryptocurrency. It is becoming more and more popular for people all over the world to get their hands on some of it.
In the United States alone, over 59 million people have some sort of cryptocurrency.
What this means is that it is becoming more of an accepted form of currency. Some people who own crypto are trying to figure out the best ways of using it as currency.
Well, one thing that you can use them for is crypto gift cards.
What is a crypto gift card? Why should you get one? What are the benefits of having a crypto gift card?
This is your crypto gift card guide.
What Is a Crypto Gift Card?
A crypto gift card is essentially putting an allocated amount of crypto onto a gift card. You can use this to keep it for yourself or give it to another person. Essentially, this is similar to a digital wallet, as it can be another place for you to store your crypto.
You can use these gift cards to pay for transactions with any business that accepts your crypto as a form of payment. You can put different types of crypto on these gift cards such as Bitcoin, Ethereum, Litecoin, and more.
Your gift card will come with keys that you will need to activate the crypto on your gift card. Once you enter the keys into your gift card, you will then be able to put that crypto into your wallet.
Benefits of Crypto Gift Cards
With crypto gift cards comes a lot of benefits from using them over other forms of currency or gift cards. Here are a few of the best perks that come with using these gift cards.
Upside in Value
Anyone familiar with cryptocurrency knows that the market is very volatile. What this means is that your Bitcoin can be worth $10,000 one day and $20,000 the next day.
So, say you give someone a gift card that has $100 worth of crypto at the time that you give it to them. They sit on the card for a while and wait for the right moment to use the crypto gift card.
A few months later, they go to use it and discover that the gift card is now worth $200.
The advantage here is that you are potentially giving someone an appreciating asset. While it can be risky to trust the value of the asset in crypto, there are high rewards when it does increase in value.
If you give this to someone who likes to invest and hang onto assets for a long period of time, then this can be a perfect gift for them.
More Global Use
Another reason why a crypto gift card can be a good gift is that cryptocurrency is widely used around the world. In 2021, there was recorded crypto trading in 154 different countries all over the world.
What this means is that more than 75% of all countries are using crypto in some shape or form.
If you have ever traveled abroad before, then you know it can be difficult to have your local currency accepted in another country. What if this gave you a way to have a currency that is accepted all over the world?
That is what a crypto gift card can do for you or whoever you give it to as a gift. It increases the chances of the currency that you own being accepted in another part of the world.
With crypto's expanding global presence, this makes a gift card a great asset to have for anybody that travels between countries regularly or anybody that does business with other countries regularly.
Growing Use
Another benefit of a crypto gift card is that as the years go on, more and more widespread use is developing for crypto. Last decade, you could not even get crypto unless you were mining it. Heck, some people deep in the tech world were using it to buy pizzas.
It was not heard of using it as a regular purchase in most circles. Now, that is starting to change. With the increase of people that are buying crypto, you are also increasing the number of businesses that want to get involved with crypto being an accepted form of payment.
With crypto gift cards, you can feel more confident that your gift card can be used in more parts of the world.
Storing Assets
Finally, gift cards have a tendency of being money that you put towards one specific company or service. With crypto gift cards, it can be another place where you keep your crypto.
This can be good for people that do not like to keep all of their eggs in one basket. Generally, you do not want to do that for any financial or investment strategy.
When it comes to crypto, people may think they have more limited places to store their crypto. This gives people an option to have some of their crypto in their back pocket.
Get Crypto Gift Cards
This is everything that you need to know about crypto gift cards and their benefits. You can use this as storage, try to get appreciating value for them, use it all over the world, and find more places that accept crypto as a form of payment.
So, what do you think? Are you ready to get on board?
See what cards we have available for you today.