BlockFi Survey Finds One in 10 Americans are Gifting Crypto for the Holidays

Do you know what you’re getting your loved ones for the holidays, yet? If not, you can join others in a last minute (or pre-planned) click-of-a-button gift — and buy friends and family cryptocurrency for the holidays.

You wouldn’t be the only person buying crypto as a present because one in 10 people are gifting crypto this holiday season, according to a new survey by BlockFi. 

“Bitcoin reigns supreme (<75%) as the crypto of choice for gifting and receiving, with Dogecoin and Ethereum coming in as second and third, respectively,” BlockFi wrote.

Gifting education

Education surrounding how to gift crypto remains low, as less than 25% of surveyed people know how to give the digital asset as a present. 

As long as the gift giver and receiver have cryptocurrency wallets, the digital asset can be given as a gift. There’s many ways to gift crypto, but people can give gift cards that are redeemable for cryptocurrencies through platforms like Binance or send it directly to someone through various crypto exchanges from one wallet address to another. 

“This data shows that while crypto is becoming a more popular topic, there are a lot more ‘crypto curious’ folks out there who could benefit from further education on how to invest in crypto and how the blockchain technology itself works,” Flori Marquez, co-founder and senior vice president of operations at BlockFi, said in a statement. 

Separately, conversations around crypto could dominate the dinner tables as one in three respondents said they would rather talk about crypto over politics or their love lives during the holidays. But this varied by age group, as Boomers would prefer to discuss politics, while Gen Z and millennials would rather talk about crypto, the survey showed. 

New Year’s crypto resolutions

In the future, one in four respondents said they would buy crypto in the New Year, with a similar trend of bitcoin, dogecoin and ethereum being the most popular crypto assets to buy. 

The survey was conducted by a third-party panel and consisted of 1,262 male and female US citizens between ages of 18 to 65 years old, who shared their sentiment around cryptocurrency leading up to the holiday season. The generational breakdowns are as follows: Gen-Z (born 1997 – 2012), millennial (born 1981-1996), Gen-X (born 1965-1980) and baby boomer (1946-1964).

“While we did not ask explicitly if any of the respondents were BlockFi clients, realistically if there were BlockFi clients in the mix there would only be a handful at most,” a spokesperson from the crypto financial services company said to Blockworks. 

“The Happy HODLdays” survey is the second in BlockFi’s Real Talk survey series, which was created to understand the mainstream sentiment around topics in the crypto and blockchain ecosystems.

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