Survey says crypto popular holiday gift for Americans — NFTs not so much

Published at: Dec. 7, 2021

Cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE) and Ether (ETH) are set to become the gift of choice for people of the United States, a new study by crypto lending firm BlockFi revealed.

Conducted in October among more than 1,250 U.S. residents, BlockFi’s “Real Talk: Happy HODLdays” survey found that nearly one in 10 Americans would give crypto to their loved ones as a holiday gift.

Bitcoin is the most popular gift by a large margin (75%) for people who plan to give or receive crypto as a present during holiday 2021, followed by Dogecoin and Ether, respectively. Nonfungible tokens (NFTs), on the other hand, still need time to be accepted as a gift alternative as only 2% of respondents are interested in receiving them as a gift.

Moreover, crypto will likely become a hot topic at family dinner tables, as one in three respondents prefer talking about their popular digital assets instead of politics during the holiday season, the survey showed. While boomers would still prefer to talk politics, Gen Z and millennials plan to open the conversation with crypto.

The survey pointed out the lack of knowledge on how to actually give crypto. Less than a quarter of respondents actually knew how to send crypto to someone as a present. This shows that crypto is becoming a popular topic but further education would benefit an even bigger population, BlockFi co-founder and SVP of operations Flori Marquez said.

Related: A quarter of Aussie crypto users plan to buy crypto Christmas gifts: Survey

BlockFi also asked respondents about their new year plans. A third of millennials plan to buy crypto in 2022 while it decreases to 25% in the older generations. Some 15% of respondents said they plan to buy an NFT in 2022. One thing to note is that Gen-Zers, born after 1997, prefers to buy Dogecoin over Ether.

A similar survey, conducted in Australia by Crypto.com, found that a quarter of Aussie crypto users plan to buy crypto gifts for their loved ones ​​this Christmas.

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