A combination of the holidays and a low valuation for Bitcoin may have some of you looking for alternative ways to spend the world’s leading cryptocurrency. Now before we begin, we aren’t saying spend up because it’s all over by any means, we do hope that those who HODL over the holidays will be rewarded in the new year however there’s no real way of knowing. The idea of spending some Bitcoin to buy a few gifts is a novel concept, and one that could at the very least help us take our minds off 2018 - a year of lost investments.
This time last year, a gift of Bitcoin would have been a huge gesture, in fact we expect that during the bull run, Bitcoin would have made a perfect gift. As this year draws to a close and as the holidays arrive however, it looks as if a Bitcoin gift would be a little more than a burden. So, you may ask, what exactly can I spend by Bitcoin on?
As the holidays approach, you could look towards investing your Bitcoin in other altcoins that have the potential to climb a reap a small return for your efforts. Or, you could look towards something more long term. Either way, with the state of the market it could be wise to do this in order to pull back some of your lost profits. Note that investment is risky, this is still the case when you are moving from Bitcoin into another cryptocurrency too, therefore, only invest what you can afford to lose and ensure you do plenty of prior research before hitting that invest button, so to speak.
Or, why not invest your Bitcoin into an altcoin to share with your friends and family?
2018 has been a great year for Bitcoin adoption. There are now more ways than ever for investors to purchase and spend Bitcoin and other cryptocurrencies, so, you could actually look towards purchasing some physical gifts over the holidays. EGifter.com is a great website that allows you to purchase gift cards for your favourite stores by using Bitcoin. Simply transfer your Bitcoin for a pre-paid card loaded with store credits for the likes of Uber, Target, the App Store and even Domino's Pizza! (Who doesn’t want Pizza for christmas, really?)
If you’re feeling extra lavish, you could splash out on some gold over the holidays too, thanks to a new partnership between Bitcoin payment processors, BitPay and OneGold, an asset management company that helps blockchain firms work with and around the gold and silver industry. According to AtoZMarkets.com:
“BitPay, an online cryptocurrency payment platform, has announced its partnership with OneGold, which enables buying gold with bitcoin. Founded by APMEX, a prominent precious metals retailer, in association with Sprott, a company dedicated for alternative asset manager, OneGold makes its priority to provide investors with key benefits of physical gold and silver with those of blockchain-based digital assets. OneGold still offers both fiat or cryptocurrency, or a combination of both of the aforementioned means for making purchases with it, while the latter is said to be equipped with a shield against bitcoin price swings through its partnership with BitPay.”
Will Bitcoin-giving ever hit the mainstream?
It’s an interesting notion, giving Bitcoin or using Bitcoin to provide gifts for others. Giving is one of the things that makes FIAT currency very interchangeable, it gives it a human touch and allows us to perform gestures of value, for others. Of course, giving gifts that are backed by money isn’t essential over the holidays, though it is something we all do, we all want to show our appreciation for our loved ones by being as generous as we can be. Using Bitcoin in this way, could help the mainstream learn to understand a little more about how alike Bitcoin really is to cryptocurrencies.
Talking of giveaways…
Crypto Revolution Giveaway
Have you heard? Crypto Daily have launched their latest Ethereum giveaway, one that is set to inspire the start of a new crypto revolution!