Crypto Christmas: What is the Perfect Gift for the Holidays?

Paigambar Mohan Raj
Source: MakeUseOf

2022 has been tough on everyone involved in crypto and finance. The year was marked by giant firms going underwater and other companies initiating massive layoffs. However, the holiday season is now upon us, and it is the time to heal and learn from past mistakes.

With 2022 coming to an end, let’s look at how we can make this holiday season special for our crypto-enthusiastic friends and family.

Best crypto presents

Cold Wallet: One of the highlights of 2022 was the increased distrust of centralized exchanges, which was brought to focus with the collapse of FTX. A cold wallet is a physical crypto storage device, similar to a thumb drive. Moreover, cold wallets offer offline storage without an internet connection. Hence they are regarded as the most secure method of storing digital assets.

Coinmine Console: Mining is a lucrative enterprise in the crypto space, albeit the current scenario is bleak. However, a mining rig can set one back by many thousands of Dollars. However, there are alternates. A Coinmine Console is a cheaper alternative to expensive mining rigs. It can mine cryptocurrencies such as Monero, Ether, and Dash. The console takes zero hours to set up and has minimal maintenance requirements.

The gift of less FUD: The crypto and finance industry takes speculation too seriously. A little rumor can cause a lot of damage if not properly researched. Therefore, investors must understand the value of doing their research. Spreading FUD (fear, uncertainty, doubt) can have detrimental effects on the industry that could lead to people getting hurt. Hence, the gift of doing more research and spreading less FUD is a great way to start the new year.

Less shill, more chill: Shilling is the promotion of a coin to generate interest in it. Many times it is done in cooperation with social media influencers. Shilling aims to increase excitement that will pique public attention and eventually lead to widespread purchasing. Increased consumer purchases result in higher demand, which raises the price of the crypto token.

Shilling is forbidden in TradeFi. What constitutes legitimate or unlawful marketing, however, is uncertain because there are no strict rules in place for cryptocurrencies yet.

A new leaf in 2023?

Although 2022 will go down in history as one of the worst years in crypto, many are hopeful that 2023 will not play out the same way. Several projects are working on new launches and applications, while some are vamping up their security. Regardless, this year has been a learning curve for many, and that should be the takeaway for us all. What’s done is done, but the lessons we take from here will remain with us going forward in 2023.

With that said, WatcherGuru wishes everyone a very happy holiday season.