If you’re looking for a gift that’s both different and practical, cryptocurrency could be a great option. You can choose to buy XRP in Canada and work your way towards owing digital currency. However, it won’t be the right gift for everybody.

1. Gift For Christmas? Buy XRP In
Canada

2. If you’re looking for a gift that’s both different and practical,
cryptocurrency could be a great option. You can choose to buy
XRP in Canada and work your way towards owing digital
currency. However, it won’t be the right gift for everybody.
Before we get into how to buy crypto as a gift, let’s first
consider some of the pros and cons of gifting digital currencies.

4. Pros Of Buying Cryptocurrency:
1. Crypto is a versatile currency. More and more stores
accept crypto payments, so a gift of Bitcoin might be more
versatile than a normal gift card. If the recipient doesn’t
want to keep it as an investment, they can spend it or trade
it.
2. This could be a gift that keeps on giving. Many people
see cryptocurrencies as a form of investment. In time, your
crypto gift might increase in value. If the gift recipient
chooses to hold the crypto long term, you never know what
it might be worth in a few years.

5. 3. You can gift any amount of crypto. You don’t have to buy
a whole Bitcoin. The transaction fees might make that
impractical, but it’s possible
4. There are no supply chain issues. As stores and suppliers
struggle to keep up with demand, there’s no chance of your
crypto gift being out of stock or stuck in a warehouse
somewhere.

6. Cons Of Buying Cryptocurrency
1. Cryptocurrencies can be extremely volatile. Be aware
that 2022 will bring a lot of unknowns for crypto, such as
regulation that could have a big impact on prices.
2. Crypto isn’t for everybody. Some people aren’t interested
or actively don’t believe in these digital assets. While they
could just convert your crypto gift back into dollars, there
are transaction costs involved. And if they are not very tech
savvy, you probably don’t want to give them that additional
hassle.

7. 3. It may not be as simple as it seems. In some cases, the
recipient will need a cryptocurrency exchange account to
receive the gift. These are relatively easy to open, but it’s
worth considering the recipient. If they already struggle to
keep track of multiple passwords, they may not want yet
another account to manage.
4. There may be tax implications. Giving crypto as a gift is not
a taxable event. However, if the recipient goes on to sell that
crypto for a profit, they will have to pay tax on those gains.
Keep track of what you paid for the crypto and what it was
worth when you transferred it as this will help with any tax
reporting.

8. What is the best way to buy bitcoin in Canada?
If you’ve weighed the pros and cons and are sure you want
to go ahead with a crypto gift, follow this steps to buy
bitcoin in Canada:
1. Sign up on Netcoins
2. Get verified with documents
3. Add funds to your account
4. Start trading
SOURCE CREDIT:
https://vancouvercryptoexchange.tumblr.com/post/6711
62633971515392/gift-for-christmas-buy-xrp-in-canada

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