Childrens Wallets

[ven7net]

I would like to set up a wallet for each of my kids and start saving accordingly.  I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids.  Any ideas on best practices a for this?

And what is the actual need to create crypto wallets for your children? If you are talking about cryptocurrency wallets, then the information about the owner is not indicated there. This applies only to centralized crypto platforms, and even then not always. Again, if you want to create a wallet for a child on a centralized platform, then you will not succeed, since there are age restrictions. As for the accumulation of wealth, you can easily do it on your crypto wallet and, if necessary, share this wealth in the future with any person, including your children. So personally, I see no point in creating crypto wallets for my children.

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[Fortify]

I would like to set up a wallet for each of my kids and start saving accordingly.  I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids.  Any ideas on best practices a for this?

It's a strange concept to setup a wallet independently for a child. It makes sense for a savings or stock market based account, where it could grow every year at a different rate and separate from your own personal funds. However Bitcoin is static - it's not changing over time. It'd be simple enough to just mentally separate the funds in your account to allocate x amount to your children, rather than dropping it into different wallets that could possibly get lost or have different problems with accessibility in future. The best way to do it might be to pick a physical cryptocoin provider you trust or something like the ledger hardware that gives you a safe, readily accessible physical wallet.

[Saint-loup]

I do not allow my child to manage a digital wallet because my child is not ready, I will wait for my child to be over 15 years old then I will introduce my child to how to manage a digital wallet.

Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography?  If your child knows what money is he should know what cryptomoney is too.

[haasanjui]

Children are not mature they download wallet apps and made account they not know the features of wallet they invest their money and they lost their money and if they forget their seed phrase Wallet will bi stuck and can be lost.

[jostorres]

Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography?  If your child knows what money is he should know what cryptomoney is too.

That’s not true, 15 years of age is not late for anyone to learn  Everything they want to know about cryptocurrency. Moreover, a lot of people who are here are already in their 30s and 40s when they got to know about cryptocurrency, but they still learnt about it and they are good at it now, with some of them becoming programmers and developers in blockchain, and also others becoming good investors and traders, and making lots of money to even be able to take care of themselves and their family.

So, the age doesn’t even matter, a child can learn about cryptocurrency at any age. I believe that as long as it is a brilliant child, they would always be able to come up with new ideas or innovations that will profit them in the future. Just like the two kids that were able to start up Ethereum mining and it became a success and they’re making a lot of money from it.

[Saint-loup]

Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography?  If your child knows what money is he should know what cryptomoney is too.

That’s not true, 15 years of age is not late for anyone to learn  Everything they want to know about cryptocurrency. Moreover, a lot of people who are here are already in their 30s and 40s when they got to know about cryptocurrency, but they still learnt about it and they are good at it now, with some of them becoming programmers and developers in blockchain, and also others becoming good investors and traders, and making lots of money to even be able to take care of themselves and their family.

So, the age doesn’t even matter, a child can learn about cryptocurrency at any age. I believe that as long as it is a brilliant child, they would always be able to come up with new ideas or innovations that will profit them in the future. Just like the two kids that were able to start up Ethereum mining and it became a success and they’re making a lot of money from it.

You didn't get my point I think, I wasn't saying 15 years old is too late. I just said that amihada doesn't need to wait this age to allow his child to use cryptocurrencies. As you said yourself "the age doesn’t even matter, a child can learn about cryptocurrency at any age", you should agree with me and disagree with amihada then 

[worldofcoins]

I would like to set up a wallet for each of my kids and start saving accordingly.  I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids.  Any ideas on best practices a for this?

Welcome to the forum, it's good to know that you are worried about your children's future. I would suggest you first acquire the complete information then invest in savings. Must be known that the regulatory rules aren't against it.
Also, the future of these sites is always uncertain so we can't rely on them completely. But what I can suggest here is to go for hardware wallets. As they are more reliable.

[Olayinka2225]

Children are children and they will always behave as one.
In DEX, we don't create wallet there, we only connect our already created wallet to the DEX exchange. Only CEX allow you to create wallet on there website, all some assets in it before you can trade. Which is far more suicide because this CEX website can go down and never bounce back again.

IMO, I think hardware wallet is the best option here.