65% of Americans want Bitcoin for Christmas, study finds

  • A new study has found that 65 percent of Americans prefer cryptocurrencies or stocks as their Christmas gift as the days of gifting iPads seems to fade away.
  • Companies like Coinbase, Binance and CashApp offer simple ways to gift cryptocurrencies even when the recipient doesn’t have a wallet.

Christmas is here (almost) and people are already thinking about what to get their families and loved ones. While traditionally gifts like electronic gadgets have been quite popular, this year, people want Bitcoin and stocks. A new study found that people want a gift that will keep on giving beyond the holidays, as the days of gifting iPads and gift cards seem to fade away.

A study by MagnifyMoney found that a majority of Americans prefer financial investments in a year when retail investment in stocks and cryptocurrencies has soared. The retail investment frenzy has seen platforms like Robinhood become household names and was the driving force behind the Reddit-fueled ‘everyone-vs-Wall Street’ phenomenon this year when retailers pushed GameStop, AMC and Dogecoin to new levels and decimated institutional investors.

Read More: Dogecoin pumps by 1,000% – retail investors revolt against Wall Street

The study found that 65 percent of Americans prefer stock and cryptocurrencies as Christmas gifts. Polling over 2,000 individuals, the study found that a quarter would prefer an investment over a gift card.

Commenting on the results, Ismat Mangla noted that people are thinking longer-term nowadays and want something that can grow in value. Ismat, who is a senior executive at LendingTree, the parent company of MagnifyMoney, stated:

I think people are thinking about money, for better or for worse. There’s nothing quite like a gift that’s going to continue to grow in value.

For those seeking to gift cryptocurrencies to their loved ones, it’s easier than ever, with leading cryptocurrency companies now offering easy gifting options. Coinbase, Square’s CashApp, Binance and Robinhood allow their users to gift their loved ones cryptocurrencies, whether or not they have cryptocurrency wallets. Some offer an email gift card for those without a wallet and once they set up the wallet, they get to transfer the cryptocurrency.

There’s also the option of gifting a hardware wallet preloaded with cryptocurrencies. Companies like Trezor and Ledger sell their hardware wallets for less than $50. What’s more, if the recipient isn’t well-versed with cryptocurrencies, a hardware wallet offers them an extra layer of security that a hot wallet wouldn’t.

This, according to Ismat, is a great way to onboard more people into Bitcoin.

Getting a gift is a good way to explore it [Bitcoin] without having to spend your own money.

About Author

Steve has been a blockchain writer for four years, and a crypto enthusiast for even longer. He is most excited by the application of blockchain to solve the challenges facing developing nations.

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