Since the amount isnt very high so I am planning to have them open P2P accounts (through my referral link ofc
) and transfer the BTC directly to their accounts. What are your thoughts on this? And how many of you have already done something similar?
It is great to give gift in bitcoin for the adoption.
And which platform you are preferring to open the account and if you want to educate them about bitcoin then do it right, instead of opening an account on exchange, educate them in creating a wallet that is non custodial and send funds to that address which means they control the keys and might have the right motivation to do it further.
I did the same this year. My sister already had some rough idea about what bitcoins actually are so I designed a paper wallet and put it in an envelop and gave it to her. At first, she did not really like the idea because as usual she had a list of gifts which she didn't get
. But she is elder to me and hence has some maturity. She did appreciate the gesture later and promised will hold those coins for a few years.
Because of her, the in-laws would to hear about bitcoins and might learn more about them in future so I think we are spreading awareness here which is really important. We can always start with our loved ones and who our sister is always one of them.
Love this. Having a story attached to their bitcoin makes the gift that much more meaningful. Arbitrary exchange account won't hit the same. I made a wallet for my sister and sent some sats to it and suggested she keep them around for a long time and not cash them out (or trade them) any time soon.
Tip: assuming you did it right and generated that wallet offline (if so, awesome) but paper may be lost or degrade over time. It would be prudent for the recipient to have a backup of the wallet somewhere safe. Alternatively, importing that wallet into a decent mobile app may make sense.
Introducing crypto to the family is the best route for broader adoption. All it takes is one person getting curious and you're golden. Also, apparently, elders always have a gift list ready. Great job.
