1. Download the Blue Wallet app at https://bluewallet.io
2. Generate a new wallet
3. Screenshot the private key and a receive address
4. Airdrop those screenshots to your computer
5. Print out on paper
6. Keep a backup of the private key in a secure location
7. Delete the screenshots
8. Send some sats to the receive address
9. Delete the wallet from the app
10. Give the gift
I greatly enjoying gifting people bitcoin. The most common times that I will gift someone bitcoin is a young girl or boy for their Bat/Bar Mitzvah or to a couple who is getting married. Especially a young person who is receiving bitcoin, they are likely to hold on to it for a long time, perhaps forgetting that they even have it. Who knows what value awaits them when they finally decide to exchange those sats.
If someone is familiar with bitcoin and already has a wallet or an exchange account, then its very straightforward to send them some sats. But its for the pre-coiners, those who have never used a bitcoin wallet, the challenge of safely, securely, and nicely gifting bitcoin is a challenge. For a long time I would use paper wallet generators, but those have security issues and are considered out of date. I propose using a modern wallet setup to generate your own “pseudo paper wallet” which can be given with a card to the recipient. I don’t suggest that I have the perfect solution, but this article briefly explains one moderately simple way to share bitcoins with a friend or loved one.
Step 1. Download Blue Wallet
Download the app for either iOS or android at https://bluewallet.io.
Pretty easy so far!
Step 2. Generate a Wallet
You can create as many wallets as you want with Blue Wallet. You want to create a brand new one for your recipient. The name doesn’t matter.
Step 3. Take Screenshots
You are going to want to give the recipient a copy of their private keys so they can access the bitcoin in the future as well as the receive address that you sent the bitcoin to so that they can see the transaction on a block explorer and watch their funds.
To get a receive address, click on the “Receive” button on the bottom left of the wallet.
To get to the private key QR code and recovery words, click the settings three dots on the top right corner of the wallet. Then click “Export / backup” to access the private key.
Step 4. Airdrop the Screenshots
I think the easiest way to get the screenshots to your desktop so that you can add them to a document and print them is to use the Apple airdrop feature. You could also send by any other means, but make sure to delete the screenshots from any messaging or sharing app when you’re done.
Step 5. Print out on Paper
I like to arrange the private key and the public address on a document with a short explanation of what they mean and some guidance to guard the paper. You can tell the recipient how much bitcoin you’ve sent them or how to spend it. It’s up you what to include. At a minimum, print out the private key either QR code or 24 words to give to them.
Step 6. Keep a Backup
I recommend keeping a safe backup of the private key in case your recipient loses their paper. Nothing worse than a lost private key. Keep the backup safe on paper or encrypted.
Step 7. Delete the Screenshots
Delete the screenshots of the private key and public address from your phone, your computer, and any app that was used to transfer between the too.
Step 8. Send Sats
Send some “sats” to your recipient. I usually like to send $50 or $100 worth of Bitcoin. Check the app on your phone to ensure that you’ve sent to the right address.
Step 9. Delete the Wallet
Delete the wallet from Blue Wallet on your phone. If you want, you can set it up as a “Watch Only” wallet to see if/when they transfer the bitcoin.
Step 10. Give the Gift
Give the printed paper with the private key to your recipient. Tell them to keep it somewhere safe with other important documents. Make sure they understand not to share the private key with anyone or else it can be stolen.
If it sounds like a lot of steps, it is, but it shouldn’t be too complicated for a well experienced bitcoin user to do.
If you’re looking for a simpler way to gift bitcoin, you can setup a friend or loved one with Give Bitcoin.