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Author Topic: Saving Bitcoins for your Children.  (Read 23819 times)
DoublerHunter
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October 26, 2017, 04:52:22 AM
 #361

One of my major aim is to start saving bitcoin for my children, going by the speculations of prices of bitcoin reaching $10,000 in few years to come  this will serve as a huge investment and insurance and I am also planning to educate my children the  basic elementary information they needed to know about bitcoin.
That is a great plan for your children to know bitcoin at young age and that will give ideas for them that bitcoin is a great thing to be keep for long term and if they will realize it then they will easily take care of the bitcoins that you are going to save up right now and in the future. Just keep educating and guiding them in the future until you see the successful days in their life because that is the duty of the parents.

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October 26, 2017, 05:12:57 AM
 #362

In my  point of view , saving bitcoin is the most use full for your children but they must know the importance of wallet and value of bitcoin so it may help full for the future of your child.
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October 26, 2017, 05:22:12 AM
 #363

This is the greatest investment of this age,in time past it is Gold that parent buy and keep for there children, In our time cryptocurrency is the key for generational wealth transfer

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October 26, 2017, 05:26:08 AM
 #364

Yah...It is  a matter of joy that, bitcoin is a secure and important crypto currency for the future. So it is an asset for children of everyone.

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October 26, 2017, 05:27:25 AM
 #365

As you said that there are different kinds of investment you can do for your children and there will be solid legal proof to prove it and nobody can steal what belong to you as legal document.I feel it as a good idea to make investment for children in btc but kids these day are internet savy i hope they will learn it fast and if you child is too small to understand about btc its better you save the documents as paper wallet and keep it safe in a bank locker or some safe lockers in your home but you write down a will document stating your ownership and hand it to someone trust worthy if something happen to you all your coins goes to your child and save them in paper wallet when its time your child will understand the value of btc and will have a safe education and future.

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October 26, 2017, 05:32:48 AM
 #366

Its actually a nice idea considering the future, but if I may ask, must it be saved in the wallet? Why not make the conversion and keep it in the bank to make it easier and probably avoiding the risk of losing it.

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October 26, 2017, 05:36:29 AM
 #367

First I really appreciate your thought about saving bitcoins for your children is great and its wise decision also. About the wallet you have risen the doubt it is the form of bitcoin so we have to plan ourselves to secure it and it is our responsibility to be very safe and planed for it same like other property documents we have to consider the wallet also to be kept safe and your wife and children (above 15) should know about it so it should not be misused or missed some were.

Monthly investment in bitcoin is look like you are creating a systematic investment which you are accumulating bitcoin in all stages which will give you a very big return to your children.

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October 26, 2017, 05:48:41 AM
 #368

Its actually a nice idea considering the future, but if I may ask, must it be saved in the wallet? Why not make the conversion and keep it in the bank to make it easier and probably avoiding the risk of losing it.
You have a point, because we're talking about the future of your children, if you're worried that there are no supporting documents except key, passwords etc. I think it is a much better idea to put it in a bank and maybe just leave an amount of bitcoin for your investments.
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October 26, 2017, 05:57:52 AM
 #369

It is the time to save Bitcoins for future as they might get proper education, food, and travel, lifestyle etc. Bitcoin will be the future for world however I am looking for the year 2018.

Still not yet saved any amount of Bitcoins for my kids since all I kept in Banks. I am looking to earn Bitcoins and save for the future.

Bitcoin prices increased a lot in the past few months so have to wait for some more time to rely for future.
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October 26, 2017, 06:06:41 AM
 #370

I am currently saving a fixed amount of fiat and change it into Bitcoin every Month for my niece. I really believe in the future of cryptos and Bitcoin and im also sure that in a few years we will look back to the current prieces and laugh about it. Its money that today doesnt hurt if i spend it for her and maybe someday it will pay her s proper education.

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October 26, 2017, 06:11:17 AM
 #371

Its actually a nice idea considering the future, but if I may ask, must it be saved in the wallet? Why not make the conversion and keep it in the bank to make it easier and probably avoiding the risk of losing it.

The thing here is the bank. Does the bank accept bitcoin? There are banks that do not accept bitcoin nor know bitcoin. Also, the bank might just convert that to fiat that will keep the value of bitcoin from pumping the price. You can just keep your private key in a safe or a place where no one will be able to see or get it except you. You can just add that to the last will so you can get the pump of the bitcoin at maximum.

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October 26, 2017, 06:11:49 AM
 #372

sanga is good for you and your child, that means you have to teach them about bitcoin in your child. But kids usually just want to have fun and support to learn. So you should not force them to know and do what you do on bitcoin. Let them do what they want. If you want to save bitcoin for your child but they do not want to know, you can entrust your bitcoin to your family and give it to him to give it to your child someday they will need money ...
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October 26, 2017, 06:27:43 AM
 #373

The reason why I am here hard working learn from what I read here and do the right rules for me to be get paid by alts and bitcoin is for my son's future. Even though I'm still newbie and a beginner trader I'm going to work have for me to have bitcoin for my son.

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October 26, 2017, 06:36:45 AM
 #374

One of my major aim is to start saving bitcoin for my children, going by the speculations of prices of bitcoin reaching $10,000 in few years to come  this will serve as a huge investment and insurance and I am also planning to educate my children the  basic elementary information they needed to know about bitcoin.
Dont really think that speculation might come in a few years but its good to educate childrens about bitcoin nowadays, as it might come in handy that they will become the future generations that preserve bitcoin or maybe even expanding the trend of bitcoin. Saving bitcoins also might become a huge investment just as you said.  Grin Grin

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October 26, 2017, 07:07:15 AM
 #375

I made a paper wallet for my son and I deposit a smaller amount of Bitcoins there every month. I kept it in a secret place that only me and another person knows.
Although I am sure you feel like paper wallets are secure the thing is if someone finds that paper wallet they have access to your bitcoin, I would highly recommend encrypting the paper wallet with a password and have multiple copies of the paper wallet.. this way even if the wallet gets damaged you have another one ^^

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October 26, 2017, 07:09:22 AM
 #376

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

This is a good idea but you also need to save some fiat for your children's future to be sure.

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October 26, 2017, 07:19:18 AM
 #377

i like your opinion " Save for children in the future" by Bitcoin which is increasing everyday but you have to protect your account bitcoin if not you will be lost all your money
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October 26, 2017, 07:26:08 AM
 #378

I made a paper wallet for my son and I deposit a smaller amount of Bitcoins there every month. I kept it in a secret place that only me and another person knows.
Although I am sure you feel like paper wallets are secure the thing is if someone finds that paper wallet they have access to your bitcoin, I would highly recommend encrypting the paper wallet with a password and have multiple copies of the paper wallet.. this way even if the wallet gets damaged you have another one ^^
Fireblond is absolutely right. I steongly recommed to encrypt it in case anybody may get his hamds on the wallet also what is really important in my opinion is to have some copys hidden outside your house maybe give it to a friend whom you can really trust or deposit in a bank locker. If a paperwallet is the only way to acces the coins and you dont have backups what do you do in a case of fire if your house burns down? Maybe you could make a picture of the paperwallet and encrypt it on a safe usb stick but make sure you do that offline!

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October 26, 2017, 07:47:01 AM
 #379

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


This is a good investment for the children, so they can already start at their early age. You can say that it is the same as opening a savings account for your children. Someday, when they grow up, I bet they would really appreciate it.

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October 26, 2017, 08:43:38 AM
 #380

I'll just save my bitcoins not just for my kids only but for the preparation of emergencies that might happen anytime. Being prepared in the future and savings is my first priorities because we know that, not all the time that we are in good health and have a financially stable. At least if that happen, then there is something that we can depend on.

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