Cryptocurrency is a hot topic of conversation, especially during the holidays. This is becoming the case even more so as Bitcoin gains traction. A recent report from Bitcoin financial services firm Unchained found that one in four Americans already own Bitcoin. Additional findings from Unchained show that 95 percent of the 400 investors surveyed in the U.S. would consider buying Bitcoin in 2024.
‘Tis the season to gift crypto
Given this, it shouldn’t come as a surprise that gifts related to cryptocurrency may be popular this holiday season.
For instance, a Ledger spokesperson told Cryptonews that 6.5 million devices have been sold in total and that Ledger secures 20 percent of all the crypto in the world. “Ledger makes the perfect gift for techies who have it all, as it ensures self custody and keeps digital assets secure at all times,” the spokesperson said.
Indeed, hardware wallets like Ledger and other devices with cryptocurrency already stored on them could make sought after gifts. Recent findings from research firm Mardor Intelligence show that the demand for hardware wallets is rising rapidly. The organization’s report notes that the hardware wallet market size is expected to grow from $36 billion this year to $1.43 billion by 2028.
Source: Ledger
Hot storage wallets – or software wallets – could also be gifted with cryptocurrency included. Kadan Stadelmann, chief technology officer at Komodo Wallet – a non-custodial, digital wallet – told Cryptonews that Komodo has made it convenient for both crypto natives and newcomers to get started with digital assets. According to Stadelmann, Komodo recently included the integration of a fiat-on ramp for the wallet, allowing users to purchase cryptocurrency using traditional fiat currency. He said:
“Users can now make purchases through various methods such as bank transfers, Apple Pay, and Visa or Mastercard cards. This accessibility bridges the gap between the traditional financial world and the crypto ecosystem, making it easy for anyone to get started with crypto.”
Similarly, Coinbase Wallet has introduced a new feature aimed at making sending cryptocurrency easier. Specifically speaking, Coinbase Wallet now lets users transfer specific cryptocurrencies through a link that can be sent though known social media and messaging apps.
Chintan Turakhia, senior director of engineering at Coinbase Wallet told Cryptonews that the holidays are the time of year when people frequently send money to friends and family. Given this, Turakhia anticipates that many individuals will choose to leverage this feature because of its benefits. He said:
“This feature makes it easier, cheaper, and faster to send money worldwide. With this launch, users can now instantly send money across borders for free using the most commonly accessible identifier – a phone number or email address – as opposed to needing to know a recipient’s wallet address.”
Source: Coinbase Wallet
Turakhia added that Coinbase Wallet has introduced an optional “simple mode” on the platform that aims to streamline the experience for beginners by focusing only on buying and sending crypto.
While gifting crypto using hardware wallets and exchanges may be common, Alex Adelman, chief executive officer and founder of Lolli – a Bitcoin rewards platform – told Cryptonews that earning Bitcoin rewards is gaining traction. “The ability to earn small amounts of Bitcoin or Satoshis often surprises people who may not have realized that you don’t have to buy an entire Bitcoin at a time,” he said.
According to Adelman, the holidays are the most popular time for Lolli since users look to save and earn money on holiday shopping. He added that over 25,000 stores support Lolli’s mobile app, website and browser extension including CVS, Ulta Beauty, Glossier, and more. He said:
“We consistently have our strongest rates during the holiday season, with stores doubling and even tripling their rates to compete for shoppers. We saw a record-breaking holiday season on Lolli with spending outpacing the national average. Active shoppers are also up by nearly 35 percent. When Bitcoin’s price goes up as it did this holiday season, we see even more new and existing shoppers using Lolli to add Bitcoin to their wallets with purchases.”
Adelman further shared that Lolli’s top users have accumulated over 2 BTC, which is currently equivalent to over $80 thousand dollars.
NFTs, memecoins and digital wearables
Non-fungible tokens, or NFTs, could also make a comeback this holiday season. While NFT trading volume has been on the decline, it’s notable that crypto exchange OKX’s NFT arm surpassed the 24-hour trading volume of other well-known NFT marketplaces like OpenSea, Blur and Magic Eden. A new NFT collection featuring Donald Trump is also likely to pique curiosity around NFTs.
Dirk Lueth, co-chief executive officer and co-founder of Upland – a GameFi platform – told Cryptonews that Upland is hosting a winter sale for users wanting to purchase holiday themed NFTs that can be leveraged in Upland. Lueth shared that the new NFTs consist of decorative ornaments, themed go karts, map assets and block explorers. He said:
“Just like people love decorating their houses to show off the holiday spirit in real life, the same is true for their digital experience. Players love decorating their metaverse structures during the holiday season.”
Source: Upland
In addition to NFTs, the memecoin frenzy appears to be continuing, as experienced traders have recently reported large profits. For example, between Dec. 13 and 15 a crypto trader bought over 19 million Dogwifhat (WIF) tokens – a dog-themed memecoin – at an average price of $0.01137. According to CoinMarketCap, the tokens’ total value hovers at around $2.18 million, earning the trader over $1 million in profits within days.
Alfred Moesker, host of “Los Cardano Podcast” and owner of the Cardano-themed Hotel Ginebra Barcelona, told Cryptonews that memecoins are often inexpensive to buy, yet have the potential to increase quite a bit in value .He said:
“At the same time, it is a lot of fun to admire the cartoony designs on memecoins in your crypto wallet. For non-crypto users, memecoins are a great first low-threshold introduction into the wonderful world of blockchain.”
Wearables that leverage blockchain technology will also likely top holiday gift lists. For example, “Frillz” is a connected jewelry collection that allows owners to wear their unique pieces in both physical and virtual worlds. The limited-edition collection of bracelets and necklaces has been created by Cathy Hackl – founder and chief metaverse officer at Journey – and Simone Faurschou – a European jewelry designer.
Source: Frillz
Hackl told Cryptonews that the entire Frillz collection is NFC enabled, serving as a passport to the VerseLuxe universe – a metaverse ecosystem – that she is currently creating. She said:
“This collection is helping merge the physical nature of jewelry, making it a tangible virtual asset as well. I hear from a lot of women in the industry that they want something beautiful and elegant that is part of Web3, so Frillz is a great gift for anyone in Web3 and beyond.”
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