I recently made the decision to make bitcoin my go to gift for any friend or family member on birthdays/special occasions. I feel like this is a great way to introduce Bitcoin to those whom otherwise would never take the first step, and I've always been annoyed by browsing around a department store at the last minute trying to find a unique gift that people don't already have.

Here's the simple and cheap way I am doing it, and you guys can offer suggestions for improvement. 1. Purchase a given amount in USD (recently $50 for mother's birthday) and hodl in my wallet. 2. In a small notebook, write the date of purchase, type of coin (BTC), amount of BTC purchased, amount of USD used to purchase BTC, price of BTC in USD at time of purchase, and total BTC owned. This can be used as a running ledger for future gifts from me. 3. Give a quick explantion on BTC, how to check price, the market fluctuation etc. Explain that I have it stored in my cold wallet and if they ever want me to sell, just call me up no problem. Also explain that if down the road they want to get their own wallet, I will be happy to help them get everything set up and transferred.

I feel like this is a nice intermediate step for introducing people that may feel non savvy in the tech world. There is zero risk for the receiver, and I never have to figure out unique birthday/Xmas gifts again.

Thoughts? Suggestions?

submitted by /u/RyanHugeBrain
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Source and link to Reddit topic: Birthday Bitcoin

Author: Reddit.com