Gift cards had a good run—crypto might be what comes next

Whether scrambling for a last-minute gift, looking for something belated to send after the holidays, or just thinking ahead to the next birthday on your calendar, the checkout line’s gift card rack has probably crossed your mind. Coffee shops, streaming services, big box retailers. You’ve done this dance before. Grab one, stick it in a card, call it a day. It’s easy. It’s simple. It’s also, for a growing number of Americans, starting to feel stale.

Nearly one in five U.S. adults now say they’d rather receive crypto than a gift card this holiday season. That’s according to a new survey from the National Cryptocurrency Association and PayPal, and it’s not a number many saw coming. Gift cards have been the default for decades. They’re what you buy when you don’t know what else to get. But something’s shifting, and it’s worth paying attention to the driver.

WHY CRYPTO IS SHOWING UP ON WISH LISTS

The case against gift cards isn’t complicated. They can expire. They’re tied to a single store or brand. They sit in wallets and junk drawers until someone remembers they exist, and by then, half the value might be gone to fees or fine print. Americans, on average, waste $90 in unused gift cards every year. That’s not a gift; that’s a slow leak.

Crypto doesn’t expire. It’s not locked to a single retailer. And while it can go up or down in value, it has the potential to grow in value. For younger consumers especially, that flexibility matters. According to the survey data, 58% of buyers see the potential for value growth as a real draw. Another 54% like the flexibility and choice that crypto offers. These aren’t abstract preferences; they’re practical.

Think about your cousin who’s been slowly building a digital wallet on the side. For them, getting crypto as a gift isn’t weird or complicated. It’s exciting. It’s something they can save, invest, and even spend at checkout. Around 23% of shoppers planned to use crypto to purchase gifts this past holiday season, and 35% say the top reason they don’t shop and pay with digital assets more often is that not enough stores accept crypto payments.

A MODERN GIFT FOR THE CURIOUS

Not everyone wants to learn a new system just to open a present. Crypto is more flexible, sure, and a natural gift for someone already holding crypto. It does ask a bit more of the recipient who is new to crypto. There’s a wallet to set up, an exchange account to pick, and some basic security steps to learn. If the recipient isn’t a little curious about how it all works, the gift can feel more like a homework assignment than a present.

Your grandma, for instance, may not appreciate getting crypto when all she asked for was a coffee from her favorite local spot. And while her go-to coffee shop may accept crypto payments, a gift card might still make more sense for her. It’s familiar, immediately usable, and it doesn’t require her to learn any new tech. But as crypto becomes more mainstream—and millions are becoming more crypto curious—there are plenty of free resources to learn about it, without the confusing hype or jargon. For example, the Crypto, Explained podcast or NCA’s 101 courses and simulator let you practice using crypto, without using real funds.

When gifting crypto, there’s also the volatility question. The value of crypto can shift between when you buy it and when your recipient opens it. That is part of the appeal for some people, but for others, it could be a deterrent. If you’re in the latter group, consider stablecoins, a type of crypto designed to stay flat in value. And today, trusted financial companies like PayPal are processing crypto transactions and managing price changes behind the scenes so the merchant and consumer are unaffected.

WHAT THIS SAYS ABOUT WHERE WE’RE HEADED

The fact that crypto is even in the conversation as a holiday gift option says something about how far digital assets have come. A few years ago, this would have sounded like a tech enthusiast’s fantasy. Now crypto is showing up in gifting, shopping, donating, and beyond.

Retailers are watching this closely. Payment platforms are too. The gift card industry isn’t going to disappear overnight, but it’s facing real competition for the first time in a long time (or maybe ever). And the competitors aren’t other retailers; they’re entirely different ways of thinking about value, ownership, and flexibility.

For consumers, the takeaway is simple: You have more options now than you did a few years ago. Whether that means grabbing a gift card from the rack or sending some crypto to your friend’s wallet depends on who you’re buying for and what they actually want. The point isn’t that one is better than the other. It’s that the choice exists at all.

SO WHO’S THIS GIFT REALLY FOR?

Know your audience. If you’re buying for someone who already holds crypto, or who’s been curious about getting started, this could be the moment to skip the gift card aisle, whether it’s for a belated holiday gift, an upcoming birthday, or just because.

Gift cards had a good run. And they’re not going anywhere just yet. But for a surprisingly large slice of the country, crypto is starting to feel like the more interesting option. That shift in consumer behavior, quiet as it is, might be the most telling thing about what’s to come next.

Stu Alderoty is president of the National Cryptocurrency Association.