Would bitcoin help teach kids about saving?

[tbterryboy]

Bitcoin would absolutely teach kids about saving because that is what bitcoin is currently in, a store of value phase. Kids definitely need to understand why BTC is sound money and what makes it such a good place to store value and wealth for long periods of time. You never learned this with gold and FIAT because those were centralized and they kept people quiet about what was really going on, but the net changed that.

Yes, it can play a great role in teaching kids that how to save their money. For kids as compared to paper money using bitcoin is a bit harder and it would fell them about their excessive usage of money. Moreover it also greatly depends on the nature of a kid, if he/she is having feelings then it could teach them how to save their money but if he/she is feeling less then it can't help them.

[1714549894]

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[thecoder2017]

It's nice to teach kids about saving money for their future but I think kids are not yet ready to introduce them about Bitcoin because they are too young to understand what Bitcoin is all about maybe we can teach them about saving using Bitcoin when they are old enough to understand the advantages of saving using btc

[mitchr4]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

It might be a great idea to teach your kids saving with altcoin. Because the sooner we start saving we will get the benefits later to be used if there is an urgent situation. As we know cryptocurrency is being popular right now with giving the kids altcoin to saving they also will able to know about the world of crypto.

[Casdinyard]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think not only in saving they can learn to on how to do trading,  yes I believe that through bitcoin they can learn how to earn and save money but it's up to them if they want to know or learn to save..  Bit for me they should learn to save money

For kids to understand the working of bitcoin or any other cryptocurrency is difficult, so first we need to teach the basics of economics like what is investment, saving, profit and all to the kids once they understand that based on that we can teach savings by using bitcoin.

I agree! We should teach kids first the basic of investing and saving using paper money before investing in bitcoin because bitcoin different kind of invest and form of money. It may confuse them so its better if we teach them one step at a time.

That is true, like what I want to teach my kids is something like letting them have allowances and if they have excess they can give it to me and I would tell them that it can earn interest if they place the money with me. So they know that investing is a good thing and that learning it early on will prove to be something that can benefit them in the long run. Parenting is indeed hard, but as parents it's something as our duty.

Wow that's a good strategy brother. I'll try that when my kids grow up.
You know kids nowadays don't know how to value our money, they'll just ask whenever they want and spend it without knowing their parents work hard to earn it. So if we can teach our kids how to save, even not in bitcoin form ( but they'll surely get attracted in the price of bitcoin ) it's a big relief to their parents as they know even their kids grew up they know how to value and spend money wisely.

[Gategold]

I think no, but bitcoin will teach the about investment, only save money will not give you much benefit but by investing you could have the better future.

[rainezerr401]

it is actually depending on the child if he/she is planning to be rich in the near future but teaching kids to save money is a good idea and in the future this kids will really help the country to improve and make the world a better place.

[Bonakid]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think we should teach children about savings through bitcoin.But we know that they might not already understand the meaning of cryptocurrency but teaching them  little step by step maybe they will know the meaning of it.Teaching savings  is good idea for the near future of children.

[BlueStackz]

Bitcoin may not teach about savings directly but perhaps the use of it will. For me, it has taught me how to save because for the first time in my life, I've been earning through bitcoin. It has made my become conscious of my finances and expenses. It has taught me how to save because I am now mindful of the financial decisions that I make. Perhaps in a way, once kids learn about finances through bitcoin, it may teach them a thing or two about saving.

I think it can teach kids how to save money for themselves because their main problem is to get control on their money, which is very hard for them to control on the paper money but if we look to the digital currency than for a kid, getting control on bitcoin is much easier than that of getting control on paper money. Not only kids but bitcoin also can teach adults the best ways of saving money which is a positive sign.

Everyone has his own opinion but I have some different opinion. In my opinion, bitcoin is not an easy thing to be used and that too by the kids.

In fact, there is no way that kinds can use this bitcoin. Bitcoin can no doubt teach this concept of saving money but only to the ones who are using it and are investing in it. We need to teach our kids about this habit of saving money by ourselves.

There is no way that we can deny this fact that kids are having very sharp minds but the fact is it is not at all possible for the kids to understand this concept of bitcoin and that too in such an early age of life. This might be possible that you can use other techniques for developing this habit of saving money amongst the kids but this one cannot really help the kids in learning anything good.

[mikel00]

i think so its better to teach kid  saving bitcoin because incase of emergency they can use it

[A Feeder]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

It still depends upon the attitude of the user. Saving is learned through mistakes.

[SacriFries11]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

It might be a great idea to teach your kids saving with altcoin. Because the sooner we start saving we will get the benefits later to be used if there is an urgent situation. As we know cryptocurrency is being popular right now with giving the kids altcoin to saving they also will able to know about the world of crypto.

Yes, it’s a great idea but I think after they learned about cryptocurrencies they should learn also how to earn bitcoin in their own ways so that they will learned also how to manage their money well. We also know that these kids have not even familiar to the bitcoin so we should be patient on teaching them maybe showing evidence or step by step process so that it’s easy for them to understand about bitcoin. We should open their minds to these technologies so that it’s easy for them to catch up what will be the future of currency.

[bakunawaaa]

I dont think so. Spending bitcoin is no different to spending fiat. In fact it is much easier to spend bitcoin because of the online functionality. If you give bitcoin to a technology savy kid, and if that kid knows where to spend it, then they will for sure spend it same as spending fiat.

[BossMacko]

I think yes, Bitcoin can teach kids about saving as long those kids doent learn to gamble then all earning or all accumulated bitcoins of the kid are just for saving or investment. Also if the kid aims to have a good future then they will try their best to save all their earnings. but this is only my opinion and if i will have a chance to teach a kid this is what i am going to teach them.

[player12]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

no it induldged them into btc casino.

[gamalzour]

of course bitcoin will teach kids how to save and HODL for long term benefits and it will definitely teach them patience which is a very good thing when it come to bitcoins. It grow with time in value which will benefit the kid with whatever needs he desire to fulfill.

Yes, it can help kids to save money for themselves  because for kids wasting paper money is very easy but for them wasting bitcoin is not easy as that of paper money. Bitcoin can be the best if used in daily life routine. Not only kids but also teens, adults and people of every age will try to save bitcoin for themselves. 

[JL421]

you cant be sure with this now 1 bitcoin is really high the logic which can be applied here is we give them bitcoin as pocket money and tell them to save if they save they will understand that money is increasing if not they might just end up spending everything

[fazerockzx]

Yes of course, not just for kids but to everyone. I know its not that easy, but its way better to teach them to save money using bitcoin as a reference at their early age so that it would be easy for them as they grow up.

[knightmairesaint]

you cant be sure with this now 1 bitcoin is really high the logic which can be applied here is we give them bitcoin as pocket money and tell them to save if they save they will understand that money is increasing if not they might just end up spending everything

I do really think that teaching kids about bitcoin will be complicated.  Kids at young age knows what money is and where it can be spend but to  use bitcoin to teach them how to save might be challenging since economics is needed to understand it.

[Kokoy]

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

Sacing is essential for everyone, it make us ready for upcoming events that we cannot predict , but its too superficial too engage our children in bitcoin just to learn how to save , this is somehow responsibilities of our beloved and also the school this is supposed to be one of their subject since as a student or as a human being saving is good, so why to engage young people here just to save?

[deniskiely]

I think teaching kid about Bitcoin is unncessary, because anyway they're too young, let them enjoy their easy life first, Bitcoin was made for the earning purpose so it's just not fit with them.