How to Give Bitcoins as a Gift This Christmas
It’s the season of giving. While the Christmas spirit has been up in the air since September, December is probably the week when many will be buying gifts for their loved ones. I know, because I will be doing that too.
While we’re on the topic of giving, it stands to reason that we at BitPinas will not just suggest typical gifts for your inaanak, or even for your parents, how about giving the gift of bitcoin (at least to your loved ones who’s old enough to receive one)?
Yes, we’re talking about actual bitcoins here. We think the best time to learn more about cryptocurrency has arrived, so we recommend some articles you can share. In this way, you can also have other learn what really is bitcoin, cryptocurrency, and blockchain.
Bitcoin in 2017
While current events unfold in the year 2017, a large group of people have been watching a financial market unlike any other. It is traded 24/7 has its own rules, completely digital, and also a very good holder (or should I say hodlr) of value.
I’m talking about Bitcoin, the digital money, and the world’s best-performing cryptocurrency. Facilitating faster and cheaper transactions, $6 Million of such transactions happened in the Philippines – up from $3 Million last year.
Why should you get into bitcoin?
We already mentioned how it can facilitate faster transactions. Most important to some people, however, is bitcoin’s ability to hold value. It is very volatile, and very risky, yes. However, the value of bitcoin versus the dollars more than tripled this year.
It even reached Php 1 Million at one point.
Why you should get others to understand bitcoin
- It helps one to realize that money is not just something you hold (touch) physically with your hands.
- It helps you understand the blockchain, probably the hottest technology right now. Who knows, your college inaanak might be interested and in the future, decide to have a career in bitcoin and blockchain tech.
- Unlike the stock market where there’s a minimum amount to be invested (around Php 5,000 – 10,000), you can invest for as low as Php 500 in bitcoin. The process of buying and selling bitcoin is as easy as using Coins and Bitbit or as technical as stock market trading. What you will learn in bitcoin can also be applied later on when you decide to invest in other forms of financial instruments, like stocks.
Bitcoin Gift – How to give bitcoin as a gift
To kickstart your bitcoin gift giving:
- Use this code (or your code) to refer your loved ones to sign up to Coins.ph
- Once they have an account, transfer him some money (depends on how much you want, but we recommend Php 500 and up).
- Show this article to your loved ones, so that they can convert the Php 500 you gave into bitcoin themselves.
- Show them this article so they can track the value of bitcoin against the Philippine peso.
To find out how much you have in terms of peso value with your bitcoin? Follow this formula:
- Your Bitcoin X Current Php Price of 1 BTC
So if you have 3 BTC, multiply that by the current price of bitcoin, which is Php 855,000. So that means your 3 BTC is Php 2,565,000! (Note: Track the Bitcoin’s PHP Price here).
How to give the knowledge of bitcoin?
While bitcoin’s value has surged, it still has not gotten mainstream. So why not take this opportunity to let your loved ones know a thing or two about cryptocurrency?
- What is Bitcoin?
- Why should you use bitcoins?
- What is Ethereum?
- What is blockchain?
- What is cryptocurrency?
- What is ICO?
- What is the Anti-Monetary Laundering Law?
- What is this process known as “Know Your Customer”?
The above are articles straight from Bitpinas. For more information on bitcoin and cryptocurrency as a whole, take a look at these articles and PDFs:
The Bitcoin Whitepaper
This is the original bitcoin whitepaper as written by Satoshi Nakamoto. What is bitcoin? How does it work? Why is it important? Why is it revolutionary? This is the article that started it all. And what’s more, it’s very simple to understand and only 8 pages long.
Should I Invest in Bitcoin?
Mr. Miguel Cuneta from SCI Ventures wrote about the right moment to invest in bitcoin. Should you do it now? Are you already late in jumping aboard? Have you already missed out on the opportunity?
Why Bitcoin is the Opposite of a Ponzi Scheme
Mr. Cuneta again from SCI Ventures explains why it is not correct to assume that bitcoin is a scam.
The folks at BlockGeeks wrote an extensive guide on Initial Coin Offerings. Now that the SEC is considering to regulate this form of crowdfunding, learn more about the basics of ICOs in this article.
So yes, you are successful in convincing others into getting into bitcoin. Did you mention that bitcoin’s value is very volatile? This is the most important piece of advice you can give to someone who’s just starting his bitcoin journey – invest only an amount you can afford to lose.