Bitcoin as a Christmas Present

[Taskford]

Just as some people here have said, it's a good idea to give Bitcoin to someone else as a gift, but it's a good idea to consider whether the person understands how it works and the responsibilities that come with owning Bitcoin. Because of one mistake they made, the Bitcoin could have passed into someone else's hands. So it's good if the person understands Bitcoin first, then you can consider gifting him Bitcoin. If not then they probably won't appreciate it.

It's worth knowing that some countries tax Bitcoin that are gifted. The person should make an enquiry about tax, not saying isn't best to give someone Bitcoin but you never can tell if the person is going to sell and use the money, you don't know what's on their mind after the presentation of the gift. Some countries don't tax gift gotten from people but Bitcoin gifts might be tax. Ask them they are going to pay tax and if the amount is reasonable with Bitcoin.

It's good to also have a storage, this isn't important but important for the person receiving the gift. If they lack storage or poor wallet, they should have prepare arrangements about how to backup the storage, and let the person understand how to back up. All this may look unnecessary until you actually need all of this but preparation wasn't provided before that time.

I think that taxation apply in US but I don't know if all people receive Bitcoin as a gift really complies with the law and allow government to take portion of what they receive to other people.

I also think that people should not only think about they are giving Bitcoin to other people. They should check first if their receiver have an idea on where he can use those Bitcoin they receive, also know on what wallet are safe to use so that they won't experience any commit mistakes or those hacking issues. I really like the idea giving Bitcoin as a gift since we help Bitcoin to gain exposure and possibly we can encourage other people to invest with this coin to.

[bettercrypto]

I once came across a story about a man and woman getting married using Bitcoin as collateral. I also found a story about a father giving his child Bitcoin as a gift.
From this, I want to say that some people give Bitcoin as birthday and Christmas gifts.
I've never done that before, and I don't think it's important for me to do it, especially with children, regardless of the motivation.

To be honest, I did some research to see if there are any stories in the crypto space about people giving Bitcoin as a Christmas gift, but I didn't find any. It seems like it's a personal decision, and it's up to the individual if they want to give Bitcoin to someone important to them.

Now, in my personal life, I wouldn't be able to do that. Instead, I think I'll stick to our usual tradition of giving gifts every Christmas season in our country.
Plus, I'm saving Bitcoin for the long term, so I don't think I could really do that anyway.

[Hewlet]

Has anyone ever given bitcoin as a present?  Birthday or Christmas.

I think it'd be a pretty cool thing to do, and also could help bring awareness to bitcoin, and get more users involved in it.

i would rather rephrase that statement to say that rather than giving someone bitcoin as a Christmas presence, it is better that i introduce the person to bitcoin walk him through the entry level process and allow him buy the bitcoin with his own money, that way, he gets to value it and if he is interested in staying invested in bitcoin, it becomes easy for him to make his decision and be ready to be fully responsible for it outcome.

As an holder, bitcoin is too precious for me to just throw it out just because i want to give someone a Christmas presence. again, the market is relatively down which means that selling or touching of my asset at this time is a no no for me. i would rather spend fiat during Christmas rather than spend my bitcoin just for showbiz.

[bakasabo]

I once came across a story about a man and woman getting married using Bitcoin as collateral. I also found a story about a father giving his child Bitcoin as a gift.
From this, I want to say that some people give Bitcoin as birthday and Christmas gifts.
I've never done that before, and I don't think it's important for me to do it, especially with children, regardless of the motivation.

To be honest, I did some research to see if there are any stories in the crypto space about people giving Bitcoin as a Christmas gift, but I didn't find any. It seems like it's a personal decision, and it's up to the individual if they want to give Bitcoin to someone important to them.

Now, in my personal life, I wouldn't be able to do that. Instead, I think I'll stick to our usual tradition of giving gifts every Christmas season in our country.
Plus, I'm saving Bitcoin for the long term, so I don't think I could really do that anyway.

I have seen several time topics with same idea on this forum (this, this). There were also topics about Bitcoin for Bday, Valentines Day gift, Bitcoin as wedding gift or simply as a gift. People did not come to one decision, there were both who have said that it would be a nice gift, and others who voted for traditional or more practical gift.

In my opinion, crypto is not the best present for Christmas. Christmas is the time when magic happens, when dream comes true. Nevertheless, I dont think many dream about receiving a Bitcoin, but expect to get a surprise or something symbolic.

[Zigabel]

This is such a brilliant idea, another way to teach people about crypto with them benefiting even before they actually venture in to it, that will even help them build the interest more because they already have a proof with their experience so it become real and very relatable to them than when it would be taught to them without any form of relatability via benefits. A gift that opens their eyes to a new advancement in technology in the finance and investment space, one which they wouldn't have experienced ordinarily and for those who already had a bad narrative about Bitcoin will have a change of heart with a second taught seeing that they are now having their own experience differently and been able to get something out of it in the real time.

Many persons have different experiences and views about Bitcoin but gifting them some units of it may be the genesis of a change of narrative for them. The fact that they may take some time to understand it and in the process of them taking their time to understand all of it, if it is a bull season, they get to have the value of their gift appreciate even more and then they will even get more interested to understand the kind of gift that does appreciate with time unlike others that may depreciate instead.

[bubilas]

The most important thing is that such a firefighting campaign should have a message that isn't just monetary support, but a good way to interest someone in cryptocurrency. When I gave my girlfriend a portion of Bitcoin to the wallet she asked her to install, she looked at me dubiously and, of course, spent it later. It's a shame it turned out that way, but that's what most people would have done. So I needed to more convincingly explain to her the potential of the number one cryptocurrency.

[aoluain]

Not only as a Christmas present but also as a birthday present too IMO.

I have done this in the past because all my family have Bitcoin and I offer either
something they dont necessarily want or need or Bitcoin. A present of Bitcoin
makes way more sense.

An everlasting present

A present which keeps giving

[GhostRider25]

Someone brought up taxes. i don't think you have to pay taxes on gifts until they over a set amount, the irs in the usa, sets that at 599 dollars before they mandatory make you pay taxes on the spot, but on that, how many, when they get a gift, the first thing they think of is,ooh, let me give the tax man his share !!! 

it might be a good way to hide the money though if you are trying to do that.

Aaron

[virasisog]

I've experienced it before, receiving crypto as a present.
For me who has been in crypto it just feels like receiving money, the only difference is that we could keep it as is to see if the value would increase or decrease in the future, or convert it into cash right away.
It would be a great gift for those who wants to start their crypto journey.

[Republikcoin.com]

Someone brought up taxes. i don't think you have to pay taxes on gifts until they over a set amount, the irs in the usa, sets that at 599 dollars before they mandatory make you pay taxes on the spot, but on that, how many, when they get a gift, the first thing they think of is,ooh, let me give the tax man his share !!! 

it might be a good way to hide the money though if you are trying to do that.

Aaron

That's not a funny topic to discuss, and perhaps some people do need to pay attention to that when they receive a lot of money through any gift. Because some less developed countries pay close attention to the rights of their citizens, it's perfectly natural for someone to discuss it here. But you, as the OP, could have directed them more specifically to the purpose of your topic so they wouldn't have delved into that topic if it wasn't really necessary for a long discussion.

[Mpamaegbu]

Has anyone ever given bitcoin as a present?  Birthday or Christmas.

I think it'd be a pretty cool thing to do, and also could help bring awareness to bitcoin, and get more users involved in it.

Be careful what you gift people. If they aren't interested in it they won't value it. I don't know how you would feel when people you gift something don't appreciate it. For me, I feel really bad with regrets when that happens to me. It's not even with Bitcoin but with other things of life.

Some people may be kind of interested in the whole Crypto Thing, but think it's going to be too much of a pita to get into, too much money,

What if the person gifted sold off immediately they received it and never had in mind to hodl? What would you do? It's unnecessary coaxing anyone into liking or hodling Bitcoin. Most of us never got the privilege of having mentor(s), let alone someone who gifted us anything to encourage us to stay in this industry. Anyone who will stay will stay. It doesn't matter what's promised or gifted to them.

[passwordnow]

i think it would be a novel and kind of cool gift for christmas besides stupid gift cards that they charge stupid money for, or just giving cash.

This is very common a few years ago, I don't know why there are people that finds this kind of gift as not cool at all. Well, to each their own but this kind of gift is going to be appreciated by those who have heard of bitcoin and if someone gifts them that, they're for sure going to be happy about it. It doesn't have to be big but as a start, like $5 or $10, they're going to treasure that already and will boast about that they're owning Bitcoin. It's a way for them to get involved into this market and will force them to learn more about bitcoin.

[bubilas]

I've experienced it before, receiving crypto as a present.
For me who has been in crypto it just feels like receiving money, the only difference is that we could keep it as is to see if the value would increase or decrease in the future, or convert it into cash right away.
It would be a great gift for those who wants to start their crypto journey.

It's great that there are people working in the cryptosphere among us, but for us regular full-time workers, I want to say that a crypto gift will only be valuable if the recipient has at least some basic knowledge of blockchain and is interested in cryptocurrencies. Otherwise, it could turn out like what happened in El Salvador, when people were given cryptocurrency, but they were only interested in exchanging it for fiat as quickly as possible, and so it didn't catch on.

[aylabadia05]

<snip>

To be honest, I did some research to see if there are any stories in the crypto space about people giving Bitcoin as a Christmas gift, but I didn't find any. It seems like it's a personal decision, and it's up to the individual if they want to give Bitcoin to someone important to them.

Now, in my personal life, I wouldn't be able to do that. Instead, I think I'll stick to our usual tradition of giving gifts every Christmas season in our country.
Plus, I'm saving Bitcoin for the long term, so I don't think I could really do that anyway.

Not giving it to other people as a gift is everyone's personal decision regarding their Bitcoin. If you give gifts to children, wives and close friends, there are some, but not in the form of Bitcoin.

I have never given it to my children because my motivation is that they are not worthy of it, but I will pass on my assets by telling my wallet password to people I trust. Someday my children will be able to enjoy it when I'm dead.
Bitcoin is a legacy from Satoshi that must be protected. That's a sentence I always remember. I can't imagine if my Bitcoins couldn't be used properly like most people who are still alive but they can no longer access their wallets to use their Bitcoins.

[hyudien]

Has anyone ever given bitcoin as a present?  Birthday or Christmas.

It's not a bad idea, but I've never personally given Bitcoin as a gift to relatives, even in small amounts, because I'm the only one interested and invested in Bitcoin in my family, I also consider that giving Bitcoin as a gift might make them less love it or confused about what to do with it due to their limited knowledge, I prefer to give gifts that they actually enjoy.

[Antotena]

I have seen several time topics with same idea on this forum (this, this). There were also topics about Bitcoin for Bday, Valentines Day gift, Bitcoin as wedding gift or simply as a gift. People did not come to one decision, there were both who have said that it would be a nice gift, and others who voted for traditional or more practical gift.

In my opinion, crypto is not the best present for Christmas. Christmas is the time when magic happens, when dream comes true. Nevertheless, I dont think many dream about receiving a Bitcoin, but expect to get a surprise or something symbolic.

I think gifting people should be based on who you want to givea a gift. If I have friend that is Bitcoin enthusiasts, live his live doing Bitcoin and cherish Bitcoin very well, if I'm going to gift him, I will give him a Bitcoin if I have the means to give him. Don't be surprised that such person might cherish that Bitcoin and keep it on a separate wallet address and remind you years later that you remember one time you gave me a particular Bitcoin, this is what it's worth today, that's how friends celebrate each other.

Secondly, if the person you want to gift will not fancy Bitcoin, don't gift them Bitcoin because why will you gift a Bitcoin to a person and they send it to exchange for money. Give them the money instead to avoid stressing yourself and the person. If there are other things they cherish very well, go for it and give them because the fact that you like Bitcoin do much doesn't mean another person will smile at you given them other than the thought of them selling them on the market.

[AYOBA]

Instead of gifting someone bitcoin they don't know how to control or keep safe why not share your bitcoin knowledge with them. In a situation to choose between knowing how to invest wisely with bitcoin or some fractions of bitcoin. I will choose to learn first. Learning will make me understand how bitcoin works, how store it and how to grow or invest more. But if i do not learn, it will be a waste since ill be losing the bitcoin by using it anyhow and exposing it to theft.

Yeah, I think this will be better and help instead of him giving the person a bitcoin. Because no matter how much Bitcoin he gifted them, one day it will be finished, and that’s why they said it’s better to teach a person how to catch a fish than to give them a fish so that even though it has finished, they won’t look for you anymore since you’ve already shown him a way how it catch on his own.

So that’s all about the Bitcoin too. When you teach a person how it can control the Bitcoin and also keep it safe, it is better than giving him Bitcoin every blessed day since not all the time you will have to give it to him, but if a person has the knowledge about the Bitcoin, it will know how to control the Bitcoin and keep it safe.

[Fiasem20]

Gifting bitcoin as a christmas present isn't a bad idea if that's also a way to promote awareness.But on the other hand it might become wasteful when the individual has no knowledge about the gift,some might have heard of it but still don't know the worth of the gift.The essence of a present is to make the recipient feel happy after receiving the gift,so the question you should ask yourself is, would the person I'm about gifting bitcoin be happy after receiving the present?if no why not convert the amount of Bitcoin into something that will be received with a joyful and thankful heart.Let's remember to show love during Christmas because it's a season of love.

[Ruttoshi]

Has anyone ever given bitcoin as a present?  Birthday or Christmas.

I can only gift bitcoin to my family members because they have the basic knowledge of bitcoin. If you gift bitcoin to someone who does not know the value of bitcoin, they will sell it the moment they receive it. Instead, give the person the money so that he can buy whatever, he wants. If he's a bitcoin enthusiast, he might decide to buy bitcoin with the money.

However, I plan to gift my son bitcoin on his birthday.

[bitzizzix]

Has anyone ever given bitcoin as a present?  Birthday or Christmas.

I can only gift bitcoin to my family members because they have the basic knowledge of bitcoin. If you gift bitcoin to someone who does not know the value of bitcoin, they will sell it the moment they receive it. Instead, give the person the money so that he can buy whatever, he wants. If he's a bitcoin enthusiast, he might decide to buy bitcoin with the money.

However, I plan to gift my son bitcoin on his birthday.

Yes, you're right. If we give Bitcoin as a gift to a family member, and they understand and have a good understanding of Bitcoin, it can be a good gift for them. And when we give it as a gift, it's up to them whether they want to sell it or keep it, as it's their right, since we gave it as a gift. And for those who don't have any knowledge of Bitcoin, it's better to give another gift that they like and that's useful because it will be more appreciated.

I myself am planning to give Bitcoin as a gift to my sister, and she happens to have been familiar with and involved with Bitcoin for a long time, which I think is a great idea for her.