Over the past several months, many charitable organizations have come to the news for accepting donations in cryptocurrency. Many investors have also donated substantial amounts through cryptocurrencies. Continuing the spirit of giving away cryptocurrencies, a recent survey shows that cryptocurrency is one of the top gifting items for Americans this Christmas. Surprisingly enough, NFTs were found to be much less popular than cryptocurrencies as a gift. While the practice of gifting Bitcoin and other cryptocurrencies has a long history, recent trends suggest that it is becoming more common now.
BlockFi’s “Real Talk: Happy HODLdays” survey has revealed interesting information about gifting trends in the United States. The survey found that Bitcoin, Ethereum, and Dogecoin are among the most gifted cryptocurrencies. According to the survey, every one out of every ten Americans has chosen to gift cryptocurrencies to loved ones this Christmas. The same survey also found that 75% of all participants are open to giving or receiving Bitcoin as a gift. On the flip side, just 2% of those surveyed feel the same about NFTs. Probable reasons might be the lack of uniformity in the value of NFTs and them not being as established as Bitcoin.
Bitcoin’s use-cases have increased with growth in Bitcoin adoption rates. Over the next few years, we might see more sectors using Bitcoin as a preferred transaction medium. However, many investors have warned against using Bitcoin for day-to-day transactions and instead treat it as a reserve asset.