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Author Topic: Saving Bitcoins for your Children.  (Read 12497 times)
Smith871
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October 17, 2017, 02:36:39 PM
 #21

Yeah thats a good way for you to ensure the future of your children but I think you should really think first because we all know that bitcoin's value is not really stable or profitable so it would be wise to think first.
Saving bitcoins for children is a good idea as bitcoins are more important than any other form of money so in case when there is some misfortune happen one can have at least a sum of bitcoin for their children which they can use for their everyday life
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October 17, 2017, 02:51:47 PM
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Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh

Actually, I am already saving bitcoins for the future of my son. I put about 30% of every prpfit i get from everything I do or invest at to his wallet.

I am doing this simply because I want him to have a decent amount of bitcoins in the future that he can not just bragg about but actually use to help him with his life. And he can also say how cool his dad is for getting him lots of bitcons. Lol.

But of course,  I do not keep the keys alone. I placed my keys to the bank and has a clear message above the phone box that this is the bitcoins I worked hard for you son. And a lot of messages that are meant for his eyes only.
I do not wamt to share it to other people or place the keys somewhere else myself because I do not wamt to lose it in any way. Imagine me telling my son that - hey son, I got you a decent amount of bitcoins but sadly someone i trust stole it. Or i have lost the keys. That would be just stupid.

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October 17, 2017, 03:08:18 PM
 #23

Perhaps the best way is to have your private keys and password written down in a paper and kept in a safety deposit box so that no one else can have access to it. When the time comes, then your children may just easily access it there.

It's important that your children is knowledgeable about bitcoin and wallets otherwise this inheritance would be useless to them. Saving bitcoin for your children is a good idea but your purpose will be defeated if they will not be able to use it. I suggest to leave some instructions or better to teach them about it even at an early age so that they can start investing as well.
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October 17, 2017, 03:10:26 PM
 #24

it is good to have savings for child but you can simply hold bitcoins for you or maybe you can try some investments to have a large income.  You can try some thing that you are sure to income like house and lot or apartment then also some taxi or maybe bus in that kind of business it is sure that you can earn money.

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October 17, 2017, 03:13:16 PM
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Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh

Actually, I am already saving bitcoins for the future of my son. I put about 30% of every prpfit i get from everything I do or invest at to his wallet.

I am doing this simply because I want him to have a decent amount of bitcoins in the future that he can not just bragg about but actually use to help him with his life. And he can also say how cool his dad is for getting him lots of bitcons. Lol.

But of course,  I do not keep the keys alone. I placed my keys to the bank and has a clear message above the phone box that this is the bitcoins I worked hard for you son. And a lot of messages that are meant for his eyes only.
I do not wamt to share it to other people or place the keys somewhere else myself because I do not wamt to lose it in any way. Imagine me telling my son that - hey son, I got you a decent amount of bitcoins but sadly someone i trust stole it. Or i have lost the keys. That would be just stupid.

Wow that's really nice. You are planning for your kids future very good but a piece of advice; do not just invest only in bitcoins for your child or children, try as much as possible to diversify the investment into things such as Real Estate, Stocks and even physical assets as that would really save your investment just incase something goes wrong with bitcoin

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October 17, 2017, 03:24:45 PM
 #26

I think it is a good way to saving money for your child but you need to introduce bitcoin to your children if they are old enough to understand it. Bitcoin is a unstable investment for now, but, in the future, bitcoin will become popular and more valuable so that saving bitcoin is a good plan. However, i hope you will have a good introduction about bitcoin to your children.

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October 17, 2017, 03:26:33 PM
 #27

Yes it is so nice to hear people are now stepping forward to use crypto currency as an inheritance treasure to your loveones. It is good to store your money in crypto as future inheritance money to your kids as time goes by the value of money stored in that crypto will multiply its value.

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh

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October 17, 2017, 03:29:13 PM
 #28

saving some of our assets as meaningful savings in the future and provision for our children will be a good thing as long as the development is still the way it is, so our children can be guaranteed in the future with less investment today .
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October 17, 2017, 03:32:00 PM
 #29

There is no other way around, unlike in Banks where if you die you have the option to give it to you benefactors and the banks will take care of it, in Bitcoin wallets in order for them to benefit what you have you really need to give your pins and passwords, but you can do so in a form of a last will in which your passwords and pin of your Bitcoin wallet will be protected by a law entity and will safely transfer it to your heirs.

yeah this could work. In banks there will be many paper works and processes to be undertaken before your property will be given to the benefactors and unlike it, when it comes to bitcoin you just have to give the address and the private or just like what you said put it on the last will and testament. It is very easy but you have to consider that unlike the easy way in bitcoin, banks is more secure and you will also be sure that the property will be given to the rightful heir because of the papers while on paper the very important key could be easily stolen.

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October 17, 2017, 03:35:38 PM
 #30

There is no other way around, unlike in Banks where if you die you have the option to give it to you benefactors and the banks will take care of it, in Bitcoin wallets in order for them to benefit what you have you really need to give your pins and passwords, but you can do so in a form of a last will in which your passwords and pin of your Bitcoin wallet will be protected by a law entity and will safely transfer it to your heirs.
Bitcoin saving is a good idea. But bitcoin is a digital currency it will used in current market. Children should not know about the bitcoin. Banks and wallets are only saving the money. They don't care about the value of children. It is create a mental stress in children.

Most of the parents are invest in bitcoin. But saving a bitcoin is not possible. Because childrens are like to play, So we should not involved in children.


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Apes
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October 17, 2017, 03:36:21 PM
 #31

I think that this is the best thing to do if you have a family and you want to secure your family. If you want to have a great future then you should save bitcoin for your children and you should do a lot of work before you reach to the point that you can relax and feel safe with your savings because if you will become greedy in spending money from bitcoin then the savings will not happen because the problem is from you.
congratulations that family is important, so that in the family there is a sense of comfort, happy and happy .. just save enough to minimize as needed so that in the future bright and in the elderly not too tired because there is a deposit of the results .. all depending on the person because the principle of different people but the goal is the same ..


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October 17, 2017, 03:39:34 PM
 #32

There is no other way around, unlike in Banks where if you die you have the option to give it to you benefactors and the banks will take care of it, in Bitcoin wallets in order for them to benefit what you have you really need to give your pins and passwords, but you can do so in a form of a last will in which your passwords and pin of your Bitcoin wallet will be protected by a law entity and will safely transfer it to your heirs.

yeah this could work. In banks there will be many paper works and processes to be undertaken before your property will be given to the benefactors and unlike it, when it comes to bitcoin you just have to give the address and the private or just like what you said put it on the last will and testament. It is very easy but you have to consider that unlike the easy way in bitcoin, banks is more secure and you will also be sure that the property will be given to the rightful heir because of the papers while on paper the very important key could be easily stolen.

Exactly that's one of the bad things about storing bitcoin as a future inheritance because anything can just go wrong and the account can be accessed and the funds moved out. Maybe if there's anyway the banking system can move in to further help safeguard this form of investment that would be nice, but then it would result in the banks meddling with the affairs of bitcoins.

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October 17, 2017, 03:42:02 PM
 #33

the best thing to save the savings from bitcoin for the future just turn it into fiat, because we do not know what will happen in the future, in other words I just express my opinion Grin

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October 17, 2017, 03:47:12 PM
 #34

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh

Actually saving bitcoins for children is really good. if you want to save them then you could create a paper wallet and you should deposit the amount in that . also saving the key and seeds and password in the same paper wallet. both way it will be beneficial.

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October 17, 2017, 03:47:22 PM
 #35

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh
Most of the people who earns bitcoin are for their future purposes. For them to reach their dreams, experience the things they want, buy things that they want to buy, and travel all over the world. But some people earns bitcoin for their chidren that they will have in the future. They save bitcoin for their children to have a good life and good education.

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October 17, 2017, 03:51:26 PM
 #36

You know I was doing the same thing, until I realized that the price might drop to $0 and they will not have any joy or profit

from those bitcoins if it did. The opposite might be true { the value might go through the roof } but I was not willing to take

that risk. I sold some bitcoins to cover the cost of their studies and that is a investment in their future careers. They get the

benefit while the price was still guaranteed to give them some profits. { I will leave some bitcoins for them on a paper wallet,

just to cover all my bases }  Wink

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October 17, 2017, 04:04:57 PM
 #37

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh
I try to start saving bitcoins for my daughter for her future education expenses. Instead of joining educational plan I save bitcoins in my wallet and hold it for a long time for my daughter and what I did in order to keep safe of the wallet I will have the white paper wallet to keep it with both of us.

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October 17, 2017, 04:08:17 PM
 #38

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh Huh Huh
I think that is actually a wise move which I never thought of. However, if you will be saving some of your bitcoins for your children, rather be smart about it so that they end up having access to those bitcoin.

You can do this by teaching them or giving a background about bitcoin and how it works at an early stage, this might help them or give a clue of how they are going to spend their bitcoin. You can use paper wallets so that you can have full control your bitcoin and so that they can easily access it as well.

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October 17, 2017, 04:16:38 PM
 #39

saving for their future or for them to live prosper. We can save BTC for them if we have know to limit or to budget the things we buy outsides
we can set a side the things so we can earn BTC for them, because as daughter my parents can set a side the things that we want just for my education and give the thing what I need in my life.

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October 17, 2017, 04:34:50 PM
 #40

Most hackers nowadays are developing and evolving , adapting to security improvements. Though, saving Bitcoin for your children's future is a noble idea. Maybe you can keep BTC for yourself first and when the time you need it for your kins, you can cash it out and buy another investment like a property. Bitcoin market is volatile, so it is best to keep track of it.

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