Younger Generation and Revolut

[joniboini]

The primary thing is that she has become involved in a very light way for the moment,
as we progress through this bull market hopefully her taste for Bitcoin will develop

As long as she understands or believes in Bitcoin value as currency and asset, I think it will be fine. What makes people lose hope in Bitcoin or crypto is because they believe they'll get rich quickly by holding some coins, within a month or so, and if they experience a massive loss due to various reasons.

I think you should encourage her to learn and read about why crypto has value, what makes Bitcoin is sound money, etc.

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[Rruchi man]

Today my daughter put her first bonus pay into Bitcoin.

She is well aware that I have Bitcoin for a few years and today out of the blue
decided to make the move

.
Firstly the fact that your daughter who i presume is very young has an interest in crypto is something i find very commendable. With such a mindset of investment at a yiung age, She will turn out tobe a millionaire at a very early age.

[AniviaBtc]

These happenings should be kept so that we can increase these good news to make bitcoin into mainstream.

When I grow older I will surely teach my son about cryptocurrency and blockchain technology so that he can somehow secure his future just like what I'm doing right now.

So as soon as we get financially stable, we should pass the mindset that we have in an investment to the younger generation so that they can also experience how interesting playing with the market.

[AakZaki]

This is the exact thing I would do — hold her by the hand. It's not enough that she's showing interest in Bitcoin, you have to make that interest worth its while for her. She can easily get distracted once she ignorantly falls victim of hack or scam. As her father and a veteran member of a Bitcoin forum you just got your first close ardent Bitcoin disciple. So, make it count. Don't be a distant observer to her. I don't think monitoring and directing her on this will be counted as infringing on her privacy or freedom if that's what you're worried about.

provides basic knowledge about bitcoin, how to get started, where to buy and sell it is what needs to be done from the start. Children today who have an interest in bitcoin have the potential to become even greater bitcoin activists than you. Don't let them fall victim to hacking and fraud, you have to direct them to the right path and warn them about the risks they will face. Teaching it directly will certainly give them encouragement and indeed, not only being observers but being a good teacher will make them experience rapid development. provide a good and correct education and become a teacher until they understand what they have to do in the future.

[Mpamaegbu]

This is the exact thing I would do — hold her by the hand. It's not enough that she's showing interest in Bitcoin, you have to make that interest worth its while for her. She can easily get distracted once she ignorantly falls victim of hack or scam. As her father and a veteran member of a Bitcoin forum you just got your first close ardent Bitcoin disciple. So, make it count. Don't be a distant observer to her. I don't think monitoring and directing her on this will be counted as infringing on her privacy or freedom if that's what you're worried about.

provides basic knowledge about bitcoin, how to get started, where to buy and sell it is what needs to be done from the start. Children today who have an interest in bitcoin have the potential to become even greater bitcoin activists than you. Don't let them fall victim to hacking and fraud, you have to direct them to the right path and warn them about the risks they will face. Teaching it directly will certainly give them encouragement and indeed, not only being observers but being a good teacher will make them experience rapid development. provide a good and correct education and become a teacher until they understand what they have to do in the future.

I guess you tagged me wrongly because you seemed to have reechoed what I said, thinking I said the opposite 😂.

Well, I for one believe there is nothing like starting something at the right time. There's never a right time. The right time is always now. Again, my little knowledge of biology tells me that a kid's mind is a tabula rasa — an empty book, so to say. And as such you can write whatever you want on it and it becomes an impression or learning. Whatever you teach anyone at young age stays with them longer than it would if taught at adult age.

[EddyRobins]

The beauty of Revolut is that you can use it as a bank account but buy and sell bitcoin etc in a very simple easy way.
I believe this is the future.
Revolut is easy to use and the fact that your account is not just for buying and selling coins is a big plus.
Even simpler platforms like Coinbase, don't feel as easily accessible as Revolut.

[Lizzie_Girl]

I think if you are going to be investing your bonus or investing anything into something you need to do your research are remains in control. According to what I have read it is like Paypals bitcoin offering in that you can only sell or buy and therefore do not even own them. What sort of investor would invest money into something they give over ownership to someone else when they could easily claim it themselves.

[livingfree]

Congrats to you and to your daughter.

Now, the next step is to make her feel that she really holds her bitcoin. If that's not possible in revolut, she should buy elsewhere like Binance.

It's easier than that app.

I agree, as a first step is not that bad, after all I think most of us even if we got some bitcoin we decided to store it at first in an online wallet or an exchange, however as we know the whole point of bitcoin is to hold your coins yourself so no one but you has legitimate access to those coins, the OP should try to explain to his daughter and if possible to her friends about the advantages of having your own wallet and hold your coins, but still it is nice to see the new generations being interested in bitcoin and what it brings.

That's usual for beginners.

They think that it's fine to store it on online wallets but with revolut as he said, she cannot send it. I have no experience particular in using that platform.

But if he says that his daughter can't, they just have to go onto another better exchange.

[20kevin20]

This is why I say that whoever is going to be the first to bring user-friendliness to a cryptocurrency is gonna be the first cryptocurrency to truly turn mainstream. Most of the crypto knowledge requires a lot of time to spend learning, and time is something not very easily affordable nowadays.

I can't take what Revolut does with respect. I think they're doing more damage to Bitcoin than good since their customers know nothing besides the fact that they're "holding Bitcoins". I'm happy to know that younger generations get into BTC more than the previous ones, but at the same time the fact that they choose convenience over anything else is quite sad.

[Shasha80]

It is very nice to see that today's young generation is very enthusiastic about technological developments. Therefore Bitcoin, which does include
advanced technology, is sure to attract the attention of the younger generation. Especially with the price of Bitcoin which continues to rise, making
it easy for the generation to prefer investing in Bitcoin over traditional assets. In my opinion, we can buy Bitcoin anywhere, as long as the platforms
we use to buy Bitcoin are popular and have a good reputation. So we don't have to use Revolut to buy Bitcoin, after all I have never used Revolut,
so I can't give an opinion regarding Revolut.

[Yatsan]

Younger generation are really the ones who are up into the latest technology and they were also the ones that are the risk takers that are willing to seek new knowledges the world has to provide based on what I am seeing because they tend to explore more to satisfy themselves into learning what can benefit them on their own good sake. It is not surprising on how the younger generations are into easily being driven into engagement into something like Bitcoin because of the era where they are born, the technological advancement is present and when it comes to anything related to it added by the fact that Bitcoin is something valuable specially at this time, younger generation will surely be attracted and be easily convince to get engage with it.

[Kakmakr]

I guess this answers your question ..and I quote from your article : " Money management app Revolut, which provides crypto trading as part of its wide range of services, stated that it has seen around 300,000 new digital asset customers during the past 30 days.

That is certainly a lot of new customers within a short time period.    I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries.   (Look like they are targeting the 3rd world markets)

The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.  

[fiulpro]

I think you might try and use normal offline wallets and even encourage her to do so since bitcoins was indeed made to kill the third parties and at the same time to help the community to stand up for themselves, to attain not just a financial revolution but at the same time make people free from the government, companies, big whales. Holding bitcoins and not knowing it's concept might give her an Investment opportunity but at the same time why not engage in it fully? It's not just for tech people, there are wide varieties of sections that one can continue to dig deeper in. These kind of apps and businesses for sure does help people to easily reach their target but they can very easily Manipulate the market or stop the users from making their independent move. I do believe that you should rather try and ask her to download an offline wallet not a days they are as easy as softwares like revolut but at the same time they are more anonymous and secure. You also have your independence.

[aoluain]

I guess this answers your question ..and I quote from your article : " Money management app Revolut, which provides crypto trading as part of its wide range of services, stated that it has seen around 300,000 new digital asset customers during the past 30 days.

That is certainly a lot of new customers within a short time period.    I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries.   (Look like they are targeting the 3rd world markets)

The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.  

Indeed, life is really centered around the smartphone.

I have an idea! i'm going to buy her a Ledger Nano S and an OTG cable. [I use this myself]

1. she gets to take control of her Bitcoin [she revolutes me the FIAT, I buy and transfer it to her Ledger]

2. she gets to interact with her Bitcoin on her phone throught the Ledger app

[Ultegra134]

Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.

[suzanne5223]

Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.

She is not frustrated about Revolut service or legitimacy but she trying to make her daughter understand the disadvantage of storing one's cryptocurrency holding in a custodial wallet which is totally not advisable.
Having said that, Revolut service shouldn't be compared with Paypal service cause they totally offer different service

[milewilda]

Not that familiar with Revolut but overall its good that you're daughter had realized on whats the benefits or opportunities that she can get when he do invested or deal up with bitcoin.
The issue i have seen that she wasnt able to transfer those coins to other wallets? thats quite absurd for a platform to have.Better sell off those to fiat and find another
platform which she can really pull off those coins into a non-custodial wallet rather than she let those coins sitting into their platform for long term.As long
you dont possess those coins then those arent considered to be yours fully.

[Ultegra134]

Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.

She is not frustrated about Revolut service or legitimacy but she trying to make her daughter understand the disadvantage of storing one's cryptocurrency holding in a custodial wallet which is totally not advisable.
Having said that, Revolut service shouldn't be compared with Paypal service cause they totally offer different service

That's fine, Revolut is a world-renowned service that has recently integrated cryptocurrency in their services. Holding in any service similar to Revolut, which you do not have full access to your coins is not advisable but as OP said, she just started, and I guess it's not a large amount of BTC, so she'll be fine.  After she is accustomed to the crypto environment she can start hoarding more and move them to a wallet.

[Silberman]

If you are that worried about your daughter using Revolut, I think that you should teach her the hard way so she can secure her bitcoins.

This is the exact thing I would do — hold her by the hand. It's not enough that she's showing interest in Bitcoin, you have to make that interest worth its while for her. She can easily get distracted once she ignorantly falls victim of hack or scam. As her father and a veteran member of a Bitcoin forum you just got your first close ardent Bitcoin disciple. So, make it count. Don't be a distant observer to her. I don't think monitoring and directing her on this will be counted as infringing on her privacy or freedom if that's what you're worried about.

This should be way easier as the daughter of the OP and her friends are already showing interest in bitcoin, if we were talking about trying to convince someone to invest in bitcoin for the first time then this could be incredibly hard as for the most part such person will not want to go through the trouble to protect their coins, but in this case that is already out of the way so trying to convince them to secure their coins properly should be easy as long as he explains to them why it is important to be the only person holding your coins.

[Innerpumper]

I think all the younger generation will meet bitcoin and blockchain they must know about technology and they will be in control going forward for this system.