Robinhood will let you give the gift of crypto this holiday season
This story is part of Gift Guide, our year-round collection of the best gift ideas.
Popular investment app Robinhood said Thursday that people will soon be able to gift seven cryptocurrencies above its app, including bitcoin, ethereum and dogecoin.
The gifting feature, which launches on Dec. 22, lets you send as minor as $1 worth of crypto. People can customize their gift with nine designs and included a personalized message, which can be shared via link, email or text.
Robinhood said gift recipients have 14 days to pick up the crypto. If they don’t, you won’t be charged. The giftee will also need the Robinhood app and an justify to accept it.
Giving crypto for the holidays adds spanking option to the catalogue of alternative gift giving, floor with gifting stocks and NFTs. Robinhood isn’t the only player here. Block, previously known as Square, announced Tuesday that people can give the gift of bitcoin above its Cash App. You can also give crypto above Coinbase and PayPal.
As with gifting stocks, there may be important tax implications on both the giver and recipient to much when giving cryptocurrency. You may want to speak to a tax professional when giving these alternative gifts, and the IRS has pages on gift taxes and virtual currencies.
