Robinhood to launch crypto gifting feature
Looking for a last-minute gift that will be a conversation starter? Robinhood is launching a program that will let you send Bitcoin, Ethereum, Dogecoin, and more to friends and family.
The new feature, which will become available on Dec. 22, will let users send as little as $1 of up to seven cryptocurrencies across the country (except Nevada and Hawaii, where Robinhood Crypto isn’t available).
Users will get a customized note and digital gift card alerting them to your crypto largess (and yes, one of those cards features a plethora of Shiba Inu dog faces, in true meme fashion). Once it’s sent, your recipient has 14 days to accept the gift. If they fail to do that, the money will be refunded to the sender’s account.
While a crypto Christmas might sound unusual to some, a growing number of people are adding it to their gift-giving repertoire. As many as one in 10 Americans are planning to gift crypto to a loved one this holiday season, according to a survey by BlockFi.
“Did you sit around the table at Thanksgiving chatting crypto with people who ‘still don’t get it’?” Robinhood wrote in an announcement discussing the feature. “Gifting crypto could help them make the first step and make those conversations easier next year.”
Robinhood’s not doing this just to boost Bitcoin. Commissions from crypto trades are a fast-growing source of revenue for the company.
Litecoin is another type of crypto Robinhood will allow users to gift, but it’s unclear at present if the popular Shiba Inu coin will also be offered. The trading service did not list other giftable coins.
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