TechnologyHow to Gift cryptocurrencies?
Cryptocurrency is no longer a non-vanilla subject as everyone has heard of these digital coins. These became popular due to their extreme volatility and sudden market bump. However, the opinion of everyone regarding cryptocurrencies varies. Not only the people's government is also a way of the cryptocurrencies. Many experts comment that bitcoin will soon become a mainstream monetary payment method, whereas few decline to these views.
Undeniably cryptocurrency can change the future of humanity as one will not have to carry any cash or standard assets, the transactions will be more secure, and the chances of theft and scams will reduce to an exceeding extent. Still, the market is in its maturation phase, and the prices are very volatile. To know more about cryptocurrency trading, check how you can cancel an unconfirmed bitcoin transaction. The volatility of cryptocurrencies makes people think that they can still make a considerable income stream from these virtual coins. Here is how you can give cryptocurrencies to your loved ones or anyone as a gesture.
Which cryptocurrency is best for gifting?
The analysts have speculated more than 10000 altcoins, making choosing one cryptocurrency that is best to give very hard. Gifting a mainstream cryptocurrency is currently the most appropriate option as mainstream cryptocurrencies are prevalent. And one flexes their cryptocurrency holdings in front of others. Some mainstream and reputed cryptocurrencies are BTC, ether and XRP.
The entry of altcoins is still going on, but the question is whether these new altcoins will ever make up the place where the mainstream cryptocurrency stands right now. Moreover, there are many Decentralized finance rug pulls with new cryptocurrencies, so make sure that you invest in a trusted project.
How to give cryptocurrencies?
With the inclining popularity, cryptocurrencies are becoming an easy to invest asset. Here are the methods that can help you gift cryptocurrencies.
Multiple platforms offer you to buy pre-formed cryptocurrency gift cards. But before buying a gift card from any of these websites, you should check the background of that particular platform. Next, select the cryptocurrency gift card website that has some positive reviews. Finally, after plumping for a gift card website, you can opt for the number of cryptocurrency gift cards you want to give to your loved ones.
You can pay for these cryptocurrency gift cards with cryptocurrencies and another conventional payment system. We all are familiar with the concept of gift cards; once you give the gift card to anyone, they can visit the same website and redeem the cryptocurrencies present in the card without any complication.
The most suitable way to give cryptocurrencies to anyone is to use a cryptocurrency exchange. If you are investing in cryptocurrency for the first time, you will need to find a cryptocurrency exchange suitable for you.
You can shortlist cryptocurrency exchange based on your needs, for example, if you want fewer transaction fees. Then, you should sign up for the cryptocurrency exchange.
Usually, a local exchange is the best platform to buy cryptocurrencies as the transaction fees are relatively minor. You can always compromise the number of features if you want fewer transaction fees. The foreign exchange always levies more transaction fees than the local exchange. To buy cryptocurrencies as a gift using these exchanges, you must follow a few steps.
The cryptocurrency exchange necessitates a user account and completing the Know your customer process. Knowing your customer process might sound a bit chaotic. Yes, it is time-consuming, but anyone can complete this process. The documents you need to provide during the KYC process varies in cryptocurrency exchange. The majority of the cryptocurrency exchange allows you to upload any government identities. After KYC, one can join any payment method to buy the cryptocurrency.
The three mainstream payment methods that everyone prefers to choose are UPI transfer, bank transfer, or payment through credit card or debit card. By using the spot wallet of that cryptocurrency exchange, you can give it to anyone. To give the cryptocurrency through an exchange, you need to know the wallet address of another user.
The portion mentioned above describes how you can give cryptocurrencies to anyone.
Washington grapples with how to expand crypto oversight .
The cryptocurrency explosion has forced Washington to adapt federal financial rules to a quickly growing and changing industry.Americans have poured billions of dollars into cryptocurrencies and a wide array of blockchain-based financial platforms over the past year as the pandemic triggered an investment boom. While the crypto market has picked up steam steadily over the past decade, a surge of interest in the space and the rapid rise of decentralized financial networks has drawn fresh attention from regulators and lawmakers.