The Rise Of Crypto Gift Cards: How They Work & Why They’re Taking Over

Crypto gift cards are an evolving trend! These cards have replaced traditional gift items to become one of the most convenient gifting options. 

Wonder why? 

Crypto gift cards are an excellent solution for people who struggle to select a potential gift. Moreover, a crypto gift card saves you from the risk of choosing an unusable item and helps you present a meaningful gift to almost anyone. It saves you from selecting occasion-specific gifts while giving you the flexibility of real-time delivery. 

Interestingly, these are only a few possibilities of the vast potential of crypto gift cards. Continue reading as we decrypt the functioning of these cards and understand more about their perks in the following sections.

Crypto Gift Card: How They Function?

In general terms, a gift card is a form of payment that can be redeemed to purchase goods or services at restaurants, retail stores, and gas stations, among other locations. 

Gift cards are further categorized into two categories, open-loop and closed-loop. An open-loop gift card can be used anywhere the issuer’s brand is accepted. For instance, if you receive a Visa-branded gift card, you can redeem this card anywhere Visa is accepted.

On the contrary, we have a closed-loop gift card limited to specific merchants or outlets. For example, if you receive a gift card from Amazon or Starbucks, you can only redeem it at the retailer issuing the card.

The functioning of gift cards is simple, you load some funds on your card and gift it to your loved ones. The card recipient will then spend this voucher or card at acceptable locations. Similarly, crypto gift cards are loaded with cryptocurrencies instead of fiat money. 

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But does it means that these cards function differently? 

No. Like traditional gift cards, crypto gift cards can be redeemed at acceptable stores or outlets. 

So now that you have an idea of how crypto gift cards work let’s look at some perks to understand why they are taking over the gifting trend. 

Why Are Crypto Cards Taking Over The Gifting Trend?

  1. It Gives You The Flexibility Of Gifting

Gift cards are a great tool to save you from the hassle of selecting an ideal gift. It allows you to give that flexibility to the recipient where they can choose what they want to buy or how to redeem the crypto gift card. 

This way, crypto gift cards give you the flexibility of gifting on different occasions and allow the recipient to get the gift they want. Or, they could also spend it to receive services that they like. 

  1. Adds An Element Of Thoughtfulness

Of course, many people stay aloof from the idea of crypto gift cards as they are very general. Even though crypto gift cards are easy to access, many individuals prefer a traditional gift as gift cards are not very personal. 

However, that’s not entirely true. You can present a thoughtful gift card to the recipient if you know their tastes and preferences. For instance, you could get a crypto gift card from the recipient’s favorite restaurant or store to show the thought you’ve put into it. 

  1. Convenient To Present Attractively

Gift cards are a hassle-free medium of giving presents. Unlike physical gift items, where things can get messy and affect the presentation, you needn’t worry about such factors with crypto gift cards. Instead, you can slip your crypto gift card into a beautiful birthday or holiday card and write a sincere note to get along with it. 

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Besides, crypto gift cards are the perfect option if your loved ones live in a different country or continent. Since these cards can be bought and delivered in real-time, you needn’t wait for customs or international shipping to spend weeks behind a proper delivery. 

  1. They Don’t Require You To Empty Your Bank Account

Crypto gift cards are a great present for almost everybody. Besides, they don’t necessarily require you to empty your bank account to enjoy the holiday mood. First, you can decide a limit on how much you want to spend on these cards. Second, you don’t always need to spend your fiat money to purchase these cards. 

Yes, you read it right. When you buy your gift card from CoinGate, you can complete the transaction in your local currency or in cryptos. Therefore, if you’re an investor enjoying significant profits in your BTC, ETH, BUSD, or LTC trade, crypto gift cards are the perfect opportunity to shower your love on your close ones. 

Now You Know

Crypto gift cards are a great option to save you from the hassle of hunting for the perfect gift. These cards are flexible and give you the option to save while you shower love on your closed ones. 

So now that you have an idea of what crypto gift cards are, when are you purchasing yours?