Christmas Gifting: Square Introduces Bitcoin and Stock Gifting, Coinbase Launches Digital Gift Cards
Christmas is approaching, payment companies Block (formerly known as Square) and Coinbase have each launched their own marketing campaigns related to gift-giving features. In addition, Coinbase Wallet's expanded application will soon support NFTs, allowing users to directly display images of the NFTs they own.
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Block
Payment company Square announced on 12/2 that it is rebranding to "Block, Inc.," while the original payment service provider name Square remains unchanged. Its mobile payment app Cash App tweeted:
Users can now gift stocks or bitcoins worth as little as $1 through Cash App, making it as simple as sending cash, and users do not need to own the stocks or bitcoins themselves.
Cash App also suggests giving real assets instead of scented candles or beach towels to help friends and family start investing.
With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don't need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing. pic.twitter.com/HS0CqusiLS
— Cash App (@CashApp) December 14, 2021
In fact, PayPal, Venmo, and Coinbase all have similar functions. Coinbase has also announced the launch of a new feature for digital gift cards, including digital cards featuring the popular NFT Bored Ape Yacht Club.
Gift crypto
The gifting feature on the main Coinbase site only requires the recipient's email. If the recipient is not a Coinbase user, they can still receive five types of crypto assets including Bitcoin and Ethereum.
The crypto assets gifted by users are packaged in the form of digital gift cards. Coinbase believes that giving cryptocurrency as a gift has educational value, motivational impact, and comes with the potential for appreciation as well as the risk of depreciation. The participating artists and artworks include:
- Magdiel Lopez
- David Krovblit
- Bored Ape Yacht Club #1644
- Rob Flowers
In addition, Coinbase launched a web extension for wallets on 5/18 this year, and further updated related features on 12/15:
- Unified assets: Display all user on-chain assets such as Avalanche, BSC, Fantom, Polygon, etc.
- Support for EIP-3085: The wallet will prompt users to switch to the correct network.
- NFT display feature.
The announcement stated that in the coming days, NFT support functionality will be added to the wallet extension, allowing users to view NFTs in the wallet and easily access NFT platforms like OpenSea.