3 ways to gift your Bitcoins this year
Bitcoin turns 11 this year and there has been a lot of reflection about its impact on the global economy and its future. In November 2018, Forbes.com reported that the total market capitalization of all cryptocurrencies amounts to a whopping $138.6 billion (R1.9 trillion).
As a budding asset class, intermittent price fluctuations in the crypto-market are to be expected. Paxful, a leading global peer-to-peer bitcoin marketplace boasting approximately R6 billion rand in turnover globally per annum, has, over the past year, seen transactions from South Africa increased by 25%, by 60% in Nigeria and by up to 100% in other parts of the continent.
Unsurprisingly, globally bitcoin has gained popularity as a gift. Paxful shares some ideas for bitcoin-novices on what to do with any bitcoins Santa may have dropped in your stocking last year or if you’re interested in gifting this cryptocurrency this year.
SPOIL YOURSELF
Paxful – a bitcoin-marketplace - boasts over 300 ways to transact peer to peer. The most popular transactions on the Paxful platform, involve purchasing discounted gift cards with bitcoin for a large spectrum of outlets, including Amazon and Superbalist, amongst others. Gift cards can be bought and sold with and for bitcoin from vendors on Paxful at a discounted price, so immediate savings/gains are possible and well within reach.
Since 2015, gift cards trades account for almost 64% of the marketplace transaction. All other methods, including debit cards and bank transfer, account for about 36 percent.
DONATE TO A CHARITY
Start the new year by giving back. From the likes of UNICEF and Save the Children to the Red Cross, a growing number of NGO’s are reportedly now accepting donations in bitcoin.
Paxful has always believed in the potential of bitcoin to benefit people across Africa. In 2017, the company launched #BuiltWithBitcoin; a campaign encouraging the cryptocurrency sector to contribute funds for humanitarian projects. The international non-profit organisation, Zam Zam Water, is the implementation partner for the program. Recently, Paxful finished building a second school in Rwanda. This recently finished primary school comes with 6 classrooms, 6 full-time teachers, cafeteria, bathroom stalls, solar panels, and 35,000L water well system. The curriculum and teachers will be provided by educational officials at the local level.
Paxful has committed to building 100 schools across the continent, as well as water wells and community gardens for sustainable agriculture. #BuiltwithBitcoin has also recently expanded to provide scholarships to women in the Middle East.
“We encourage the cryptocurrency sector to contribute more to humanitarian projects. The #BuiltWithBitcoin initiative is an example of bitcoin being used as a testament to the usefulness of cryptocurrency,”
said Ray Youseff, the CEO and co-founder of Paxful.
“To date, we have built two schools - a nursery, and a primary school in Rwanda, Africa- and provided scholarships to Afghan refugees, and plan to continue these philanthropic ventures.”
BECOME A SERIOUS CRYPTOCURRENCY INVESTOR
Serious cryptocurrency investors play the long game. The crypto-market was borne out of the underlying desire to be free of the traditional banking system which advances income inequality and promotes centralization.
On Africa, Paxful Co-Founder and Chief Operating Officer Artur Schaback have said:
“The peer-to-peer economy holds the promise of providing greater access to the global financial system, especially to those who have no access to traditional banking systems. For us in Paxful, it’s exciting to see more people being part of the crypto-economy along with their friends and families.”
