Gifting Bitcoin to minor

[Coingifter]

I would like to gift Bitcoin to a minor - how would I do this please?

[Mbitr]

What age would the “minor” be ?
You would have to think how responsible they are, what do they know about money in general , what do the know about Bitcoin ??
Definitely an introduction to how FIAT works and how Bitcoin works would be the first step. Then an introduction to wallets, including hot and cold wallets. Would they be using or saving the Bitcoin ?

[YOSHIE]

I would like to gift Bitcoin to a minor - how would I do this please?

There is no law that prohibits you from introducing and giving Bitcoin to your child, as long as he knows how to operate the internet, android cellphones, computers and laptops, everything is fine, not a few parents are introducing and giving Bitcoin to minors, in this world, including me.

Bitcoin is not something that demoralizes minors, it is an asset that everyone needs to know including children, if they want to know.

Conclusion: what do you want to do for your child, that's ok, what else want to give Bitcoin, so how old is your child is a minor, 10 years and under are still categorized as minors, except: your child is still a baby, that's just blaming the law, you can say the person who gave it doesn't know the law.

[Coingifter]

Thanks for these replies. It's for my nephew who is 12.

Just a minimum amount which appears to be 30 UKP. For saving,  as he is already a keen saver and has said he would like some Bitcoin.

I would be nervous about him dabbling in dealing - are there safeguards to prevent this? 

I have also considered putting it in my own name and transferring it to him legally when he hits 18.   Is there any way of giving him "read-only" login rights to an account so he can check the value without being able to tinker with anything?   

[Mbitr]

I’ve given bitcoin to my own children and they are under strict instructions to HODL They are using a phone wallet at the moment. You should always make an off line produced paper wallet or something similar - possibly with 2fa or split keys - so that he can’t access the funds without your permission.
I’m not the most technical, but I’m sure some other members will come up with a perfect solution. Good luck and well done promoting Bitcoin.

[Baofeng]

I would like to gift Bitcoin to a minor - how would I do this please?

Paper wallet would be a good idea.

Or follow this tutorial, (might be outdated though), but the idea is still there [Howto] Give Bitcoin as a gift.

Or you can buy this: https://opendime.com/ and use it as a gift.

[Jawhead999]

I have also considered putting it in my own name and transferring it to him legally when he hits 18.   Is there any way of giving him "read-only" login rights to an account so he can check the value without being able to tinker with anything?   

It looks like you're want to use exchanges/custodial wallet isn't? Well it's very not recommended to leave your exchanges for a long time, we don't know the future what the future of your exchanges. Only in 1-3 years there's a lot change on each exchanges, it could be hacked, exit scam, shut down, popular etc.

Yeah you can create watch only wallet only by importing the public key (not private key or seed) of your wallet, so your nephew can't do anything except read the balance and transaction. It's only for non-custodial wallet.

[SFR10]

Just a minimum amount which appears to be 30 UKP.

Are you referring to the British Pound? If you're willing to spend a bit more and get your nephew something that "also" has a different kind of value, then I'd suggest looking at the "Collectibles" board and choosing the cheapest funded and graded collectible coin that you can find ^{[he has to break the case, in order to get to the private key]}.
^{Note: DYOR before trusting any of the sellers!}

I have also considered putting it in my own name and transferring it to him legally when he hits 18.   Is there any way of giving him "read-only" login rights to an account so he can check the value without being able to tinker with anything?   

In addition to what Jawhead999 posted, the following feature might come in handy: Timelock

[usekevin]

I would like to gift Bitcoin to a minor - how would I do this please?

All the elder people in forum will have some bitcoin in their wallet.So they can give to some little portion of the holding to the people with less knowledge about crypto.It maybe their trigger to get into cryptocurrency field.If more and more will get into crypto.We can able to see,huge investment in short period.People should take care of hold by using security like google authentication.

[Coingifter]

Interesting - thankyou everyone.

[Coingifter]

So I am on a learning curve here. Ben watching some Inrtroudtion to Bitcoin videos.

I would prefer to gift Bitcoin in a more ta tangible form than paper.

I presume the Bitcoin coins you can but for just a few UKP are inherently worthless and need to be funded?   If so, how would I do that? What woudl be the advantage of buying one via the forum linked above?


I presume the Bitcoin credit stick comes pre-funded if that is the right terminology?

So if it costs USD 39 then that is 39 USD worth of Botcoin?

[Mbitr]

So I am on a learning curve here. Ben watching some Inrtroudtion to Bitcoin videos.

I would prefer to gift Bitcoin in a more ta tangible form than paper.

I presume the Bitcoin coins you can but for just a few UKP are inherently worthless and need to be funded?   If so, how would I do that? What woudl be the advantage of buying one via the forum linked above?


I presume the Bitcoin credit stick comes pre-funded if that is the right terminology?

So if it costs USD 39 then that is 39 USD worth of Botcoin?

I think if you are going to gift some bitcoin, you need to do a bit of research yourself. Don’t worry and don’t panic
The ‘credit stick’ you mentioned - probably an open dime is an off line storage device for bitcoin. There are several devices or hardware wallets like this. They come unloaded, ie, no bitcoin included. So you would need to buy these and load the bitcoin yourself. There are plenty of guides out there to help you.
Personally I would avoid buying loaded coins/ items for now as you will definitely need to do a lot more research.
Don’t be put off , Bitcoin  sounds complicated, but the more research you do , obviously the more you’ll understand how it works and you’ll definitely work out what you need to do.
Sorry , I hope this helps 

[Coingifter]

That is helpful, thank you. Agree, I am still very much a newbie and think I will plump for a paper wallet for now.   

I will do more research. It does seem complicated but I can keep at it. 

[Mbitr]

I’m sure you’ll enjoy your Bitcoin ride 
You can have a look at the first post in this thread and it will give you some of the basics

https://bitcointalk.org/index.php?topic=1631151.160

Then you can look at getting some Bitcoin and transferring it to a wallet for the kids to hold for the future 
Good luck and happy to help 

[LoyceV]

I would like to gift Bitcoin to a minor - how would I do this please?

Since you're posting this in Legal, I'd say discuss it with the kid's parents first.

Just a minimum amount which appears to be 30 UKP.

UK Pound? I've never seen it written like that.
In Bitcoin, there's not really a minimum amount, this sounds like a limitation from an exchange, and depending on the exchange you may waste a lot of money on fees. I take it you're unexperienced in Bitcoin yourself, correct?

For saving,  as he is already a keen saver and has said he would like some Bitcoin.

I would be nervous about him dabbling in dealing - are there safeguards to prevent this?

I'd say make it a learning experience for him, and leave it to him what to do with it.

I have also considered putting it in my own name and transferring it to him legally when he hits 18.   Is there any way of giving him "read-only" login rights to an account so he can check the value without being able to tinker with anything?

If you give him a watch-only wallet, you're basically giving him nothing and he has to trust you'll give the keys 6 years from now.

Or follow this tutorial, (might be outdated though), but the idea is still there [Howto] Give Bitcoin as a gift.

The first site it mentions is (now) a scam! Don't recommend it.

I would prefer to gift Bitcoin in a more ta tangible form than paper.

Just for the record: Bitcoin isn't "tangible". You can write/print/stamp the keys on anything you want though.

There are so many ways of transfering Bitcoin, anything from a printed private key to an Electrum seed or funding an address created by your nephew, but it all has pros and cons you should be aware of before using it. But that doesn't really belong in "Legal".

[hugeblack]

I don't know what the interests of minors in your country are but here many children are interested in Yu-Gi-Oh cards^[1] and playing with it so you can search for some cool bitcoin designs or made it you only need designs and print the public/private Bitcoin address on that card^[2] and give it to him.

If you are afraid of losing money, print the public key and keep the private key with you.

[1]

[2]

[sheenshane]

I will do more research. It does seem complicated but I can keep at it. 

It seems you're doing great now and I think you already understand the concept of Bitcoin and how it will work.  As you have said above, your nephew said that he/she likes Bitcoin, which means, your nephew probably already knows or has a little idea about Bitcoin and that is the reason why he/she requested that valuable stuff from you.

Just a friendly reminder, remember that anyone who will hold the private key will be the new owner of your Bitcoin.  If you want to hand over the private key to your nephew, just make sure it is safe and should not be saved in any online third party or any device that could be hacked.  Valuable things like this are always prone to scam. 

[Coingifter]

I will do more research. It does seem complicated but I can keep at it. 

It seems you're doing great now and I think you already understand the concept of Bitcoin and how it will wor

Thanks. I am getting there

I am about ready to plunge in. So if  I have this right, I buy the Bitcoin, then transsfer it to my nephew, but only one of the keys (public I believe but need to check this).

W/he can use a paper wallet and if I want I could fund a coin with it.

He would have no right to trade or amend things in any way as I retain the private key (?)

When he is 18 I could fully transfer everything to him legally.   

[LoyceV]

He would have no right to trade or amend things in any way as I retain the private key (?)

When he is 18 I could fully transfer everything to him legally.

Why not wait until he's 18? If you give him a watch-only wallet now it's basically an "I Owe You" that's completely useless. But worse: many people have been scammed when they thought they bought Bitcoin, but all they got was a watch-only address. He shouldn't think having an address is the same as owning Bitcoin.

[BlackHatCoiner]

He would have no right to trade or amend things in any way as I retain the private key (?)

Yes. It'd be basically you giving him an “I owe you X bitcoins” piece of paper that he couldn't do anything other than wait until he's 18, to redeem it. If you consider this a nice way of delivering him his gift, then do it. I wish my uncle/aunt had bought me bitcoins as a gift six years ago.

However, I'd appreciate it even more if they had taught me how it works and what's the purpose of it.