Cryptocurrency: Cryptocurrency can be the best gift of the new year, find out how to give!

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#NewDelhi: Nowadays, cryptocurrency has become popular all over the world. So let’s take a look at some important things before giving cryptocurrency as a gift in the new year.

Market volatility

Cryptocurrency is a type of high risk, high reward investment. But cryptocurrency could be a very good investment for big value growth next year. But before giving a cryptocurrency gift, one has to see if the person being given the cryptocurrency as a gift is aware of the cryptocurrency. Anyone who will be given a cryptocurrency as a gift should be aware of investing in cryptocurrency. Cryptocurrency can be quite profitable as a New Year’s gift. Because at the beginning of 2021, Bitcoin was at ৩০ 30,000, which reached ৬৮ 6,000 in November.

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Impact of tax

Giving উপ 15,000 or less in cryptocurrency as a gift will not incur any tax. But a gift of cryptocurrency between ১৫ 15,000 and 30,000 would be tax deductible. In this case, the person who is being given the gift of cryptocurrency has to pay tax. So under ১৫ 15,000 cryptocurrency can be given as a gift.

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Purchasing process

If one thinks of giving cryptocurrency as a gift, one must first decide what kind of cryptocurrency he wants to give as a gift. Because there are different types of cryptocurrencies in the market. Cryptocurrencies can be given as gifts through gift cards. Cryptocurrency can also be given through crypto wallet through exchange. In this case, the person who will be given the cryptocurrency as a gift also needs to have a crypto wallet or exchange account.

Transaction costs

There are different types of fees for cryptocurrency transactions. It depends on the currency being traded. Coinbase does not charge for the transfer of cryptocurrency from its own wallet to another Coinbase wallet. But a person who has been given a cryptocurrency gift will have to pay a charge if he sells that gift through the Coinbase platform and transfers it elsewhere. The cost of such cryptocurrency transactions is very high.

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Concepts about cryptocurrency

Although cryptocurrency is currently popular, it is important to know how much one knows about cryptocurrency before giving it as a gift. Problems can arise if the person being sent the cryptocurrency as a gift has never used it before and has no idea about the cryptocurrency.

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