- GiveBitcoin enables through an innovative concept to give Bitcoin to friends or relatives for a special occasion, such as Christmas, to give away.
- This is intended to promote the adaptation of Bitcoin into the mainstream.
The adaptation of Bitcoin has a significant influence on how strong the trust and use of Bitcoin is in people’s everyday lives. GiveBitcoin has developed a new concept to make it easy and reliable to pass Bitcoin on to family, friends or partners.
GiveBitcoin simplifies giving Bitcoin as a gift
GiveBitcoin.io was launched last Thursday with the aim of allowing people to give Bitcoin as a gift to others on special occasions without compromising the wallet or credit.
Among the investors of the project are well-known personalities such as Dr. Saifedean Ammous, author of “The Bitcoin Standard”, Coinshares CSO Meltem Demirors and Fundstrat founder Tom Lee. Yan Pritzker, also investor of this project and author of “Inventing Bitcoin” describes that GiveBitcoin can create a new awareness of the value of Bitcoin in the ordinary population and promote adaptation:
GiveBitcoin will create conscientious Bitcoiners who understand the value of the gift they receive. That, in turn, will help the Bitcoin ecosystem grow and flourish.
He further describes that the recipients are enlightened about Bitcoin and thus the understanding and knowledge of Bitcoin as well as the blockchain technology grows and is passed on.
GiveBitcoin works with Prime Trust, a regulated, technology-driven trust that provides financial infrastructure solutions to ensure that all gifts are secure and 100% owned and controlled by the recipient. Prime Trust also works with well-known cryptocurrency exchanges such as Binance, Bittrex and Huobi.
The donor must determine how long Bitcoin is to be kept in a wallet at Prime Trust. The minimum duration is one year and the maximum 5 years. Various scenarios are conceivable. The recipient can get access to his wallet directly on his birthday or after a certain period of time.
The idea behind the time lock of e.g. one year is that the recipient is informed about Bitcoin by a 12-part guide during this time. Information material is sent out once a month, either by e-mail or by post, which is intended to serve as information both for the recipient and for the recipient’s family or relatives.
According to the company, the prepared material is aimed at people who have little or no previous knowledge in this area:
Navigating the nuances of securely using Bitcoin has historically been very difficult for new users. GiveBitcoin is designed to make it much easier with a comprehensive education package built into the flow of receiving your first Bitcoin.
Bitcoin adaptation on the advance worldwide
Coinbase released a report earlier this month showing that 9% of Americans, 27 million, have already used Bitcoin. Furthermore, the number of Bitcoin nodes worldwide has increased. Especially in Europe and Asia there is the highest concentration. The following chart shows this development:
Source: Coinbase.com
Google Trends also clearly shows that interest in Bitcoin is growing faster, even supplanting search queries such as “royal wedding” or “election results”. In 2009, Austria showed the greatest interest in Bitcoin, followed by Kazakhstan (2010), Estonia (2011), Finland (2012), Ghana (2015), Nigeria (2016) and South Africa (2017).
In addition, a new study has shown that since 2013 Bitcoin has achieved a higher return than the world’s most important stock index, the S&P500. Bitcoin has achieved a return of 132%. This compares to the following figures: Nasdaq 100 +17%, S&P 500 +12%, FTSE Europe 100 +11% and FTSE ASEAN 40 -3%. The following chart compares the respective returns.
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