Planning to gift Bitcoin (CRYPTO:BTC) or another crypto for Christmas? You’re not alone

Have you ever received cryptocurrencies for a gift?
The post Planning to gift Bitcoin (CRYPTO:BTC) or another crypto for Christmas? You’re not alone appeared first on The Motley Fool Australia. –

Bitcoin (CRYPTO: BTC) and Ethereum (CRYTPTO: ETH), the world’s number 2 crypto, have shaken off their losing streak today.

Bitcoin is up 2.5% over the past 24 hours, currently trading for US$60,444 (AU$82,800). That gives the world’s original crypto a total market valuation of US$1.143 trillion, according to data from CoinMarketCap.

Ethereum, Bitcoin’s closest contender, is up 5% in 24 hours. One Ether is currently worth US$4,312, giving Ethereum a market valuation of $512 billion.

Now crypto investors just need to hope the tokens hold their value through Christmas.

Why Christmas?

It won’t take up any space in your stocking

Do you remember getting cash from your grandparents for Christmas? Maybe a $10 or $20 note to save or spend as you saw fit.

Well times, they are a changin’.

According to a new study by, 26% of Australians who hold crypto intend to gift some for Christmas.

Commenting on the findings, Ian Lowe, CEO of crypto trading platform Dacxi, said “It’s not surprising at all that with the value growth in most cryptocurrencies this year, and particularly over the last three months, that many investors are keen to help their friends and family make their first steps in crypto.”

Lowe said the proliferation of new crypto platforms makes it easier than ever to buy crypto. And many platforms, like Dacxi, have a “gifting feature”.

According to Lowe:

The media narrative around crypto, which has seen a marked shift away from a focus on its perceived volatility and towards the very real long-term investment potential, has helped move the buying and selling of coins into the mainstream consciousness. Parents would often gift a child a share of a company to teach them about investing. In cryptocurrency, it’s much the same.

“Christmas is a time of year when people are always looking for the opportunity to excite and impress loved ones,” he added.

How have the number 1 and number 2 crypto been performing?

Ethereum has narrowed the gap with Bitcoin in the crypto space this year.

Ether is up a whopping 487% since 1 January 2021.

Bitcoin is up a more sedate 105%.

What will the number one and number two crypto be worth on December 26?

That remains to be seen.

The post Planning to gift Bitcoin (CRYPTO:BTC) or another crypto for Christmas? You’re not alone appeared first on The Motley Fool Australia.

Should you invest $1,000 in Ethereum right now?

Before you consider Ethereum, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Ethereum wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Could carbon credits become the new crypto? This fundie thinks so

How has Bitcoin (CRYPTO:BTC) performed since this weekend’s Taproot upgrade?

Getting paid in cryptocurrency will be the norm, says expert

Are there more crypto ETFs coming to the ASX in the future?

Bitcoin (CRYPTO:BTC) price resilience takes on gold as investors seek inflation protection

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!