Crypto: The Gift That Keeps on Giving

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Last Update: September 21, 2022

2 mins read

The holiday season is upon us and while many are looking for the perfect gift for their loved ones, some are considering gifting crypto. A new study has come out that said 10% of Americans are thinking about gifting cryptocurrency as a present this Christmas. The top three suggested assets were Bitcoin, Ethereum, and Dogecoin.

The study also shows that some people are considering gifting NFTs but only 2% of participants were interested in receiving them. Dogecoin came in second as a gift over Ethereum. The report also highlights the gender inequality in cryptocurrency by showing that men are twice as likely to know how to give cryptocurrency than women. Women were also less likely to be interested in NFTs.

In 2017, during the last bull market cycle, there were many people who chose to give cryptocurrency to friends and family and had to endure years of a downward market. For those recipients who had chosen to hold on to those gifts, they would now be worth roughly $300-$400. 

As many speculate the end of this current market cycle, it should be on everyone’s minds whether or not to give the gift of crypto this Christmas. While the underlying value of cryptocurrency is still looking very strong, the short-term value of these gifts could take a plunge if the market decides to shift into a bear market. 

The study also divulges that the younger generation is fully on-board with cryptocurrency. People under 30 years old showed that they were likely to purchase crypto and NFTs in the coming year. The market research also stated that younger men were much more interested in receiving cryptocurrencies over cash and gift cards.

The positives to giving cryptocurrencies as gifts this Christmas come in two forms. Firstly, the market could continue to drive upward and the gift could become more valuable over the short term. Secondly, giving cryptocurrency to people who are new to the technology will give them a reason to become interested and further research crypto assets.

Will you be giving cryptocurrencies as a gift this holiday season? Tweet at us and let us know!

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.
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