My first thought: I think this is a terrible idea! If you want to give someone Bitcoin as a gift card, give them a paper wallet and explain to them how it works.
What's the point of giving someone Bitcoin if they can't install a wallet to use it?
Can you explain how your setup is non-custodial? You can set an expiration date on Bitcoin on the gift card, which makes it custodial.
It's easy to install an established wallet though. Electrum for instance.
How does it work?
The current ways to gift bitcoin are not great. They either require kyc or the gift recipient to download a wallet.
I have already disproven this statement. There's no need for KYC, and even better, downloading a wallet isn't a problem. I wish more people would actually do that instead of trusting third parties as if they're buying stock.What's the point of giving someone Bitcoin if they can't install a wallet to use it?
Quote
I am prototyping a web app that lets a gifter load btc into a local-browser based wallet and send the gift recipient a digital giftcard that lets them then redeem the bitcoin. They would then be able to setup a wallet (if they wish) , buy an amazon giftcard, swap for another crypto etc. It would be a browser based wallet so I will be able to walk the user through whatever they choose to do with the btc with the gui.
Your "solution" has so many problems: they'll need to trust you, which isn't necessary considering the way Bitcoin works.Quote
My goal is to be the easiest way to gift btc without app download or kyc causing friction in the process.
My goal is to make people understand Bitcoin, and "not your keys, not your coins" should be the first thing to understand.Quote
I have done research into past examples of non-custodial bitcoin gifting apps
You mean paper wallets Can you explain how your setup is non-custodial? You can set an expiration date on Bitcoin on the gift card, which makes it custodial.
I was thinking that asking someone to download an app adds a considerable amount of friction to the process, but I could be wrong about that assumption.
From what I've seen, most people install far too many apps. As a Bitcoin user, I install as little untrusted software as possible.It's easy to install an established wallet though. Electrum for instance.
its all local browser based, the creator and gift receiver would control the keys.
This is less bad than my initial assumption, but why would I use a new service for this, if I can already choose from many different established wallets?I also have a working(ish) demo, https://giftmonero.app/, that I have built for gifting monero if that is something more concrete to help visualize how this would work for bitcoin. I was hesitant to post if before because this is a bitcoin development, but I think it would help with the technical demonstration.
This site looks really nice. Don't get discouraged by "my first thought", I can imagine there's an audience for this.How does it work?
Quote
Go to giftmonero.app/redeem within 2 Hours to get your Monero!
I've seen custodial Bitcoin "certificates" that expired after many years, it lead to quite some drama on the Collectibles board, and apparently it was according to the Terms of the service. The site closed, and people lost "their" Bitcoin.