Parental Guild on Bitcoin

[blue Snow]

Is buying Bitcoin or cryptocurrency good for Kids?

Yes, bitcoin is good for future investment. I have a son whom I am preparing to save bitcoin for him. I gave my son a Bitcoin address which he can track himself on Explorer. I save for him about 0.0002 each month. Now, it's been almost 2 years on my routine. But, he always asks when he can withdraw it because he wants to buy something toys, but I always say no for that. I always teach him to invest even if it's small, because we don't know in future, maybe bitcoin will be big and the price will be multiple higer that today. And, with that small save he can buy house or other property.

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[Dzwaafu11]

Is buying Bitcoin or cryptocurrency good for Kids?

 Buying bitcoin for kids is good for the future since we believe that bitcoin is a future investment. It’s a long-term investment, and you can see that accumulating some for them is a good idea. However, while we are buying bitcoin for them, we should not hand it over to them; they are still kids and lack knowledge of the investment. It is supposed to take time before we hand over the keys to them. In fact, until they know the value of bitcoin, you, as the father, teach them the key concepts of bitcoin, like how to secure the keys and other things that are needed.
 
Because handing it over to them at an early age may ruin their lives seriously, and they won’t value the funds; they will squander the money without your consent. So you will be the one in charge of the funds until they reach a certain age before you give them the keys to get access to bitcoin.

How do you teach a kid to secure Bitcoin incase you are not there?

There are many things a kid is supposed to know before even starting to think about money, so I can’t teach my kid about bitcoin; it will be too early. I will allow them to go to school and know the value of money and how difficult it is to get it before I start teaching them about bitcoin, and that is if he or she is interested. However, cryptocurrency is not one of the things I will teach a kid at an early age; they should go to school. It will be better after he or she is an adult. I will get him involved in the cryptocurrency industry. Remember, business is not for small children.

Should authorities or agencies place age restriction on owning Bitcoin?

Bitcoin is not a centralized currency that governments or any other agency will know about before someone invests in it. Bitcoin is a decentralized currency, and regardless of your age, you are free to get involved in it.

[moneystery]

afaik there is no age limit on buying bitcoin, all ages can buy it, but the concern is why do you force a child who still has minimal knowledge about cryptocurrency to buy bitcoin? let alone teaching them how to store it securely.

it's better for you as a parent to let them learn and enjoy their childhood than to force them into something that is boring and confusing for them. or you as a parent can buy bitcoin for your child and then when they are old enough to understand cryptocurrency then you give them full access to the wallet and manage their investments themselves.

[peter0425]

Few Questions I will like to get you own input on

Is buying Bitcoin or cryptocurrency good for Kids?

How do you teach a kid to secure Bitcoin incase you are not there?

Should authorities or agencies place age restriction on owning Bitcoin?

I will appreciate you immerse contribution to this discussion.

Answers

1st question = Buying bitcoin is always Good either for our kids or for ourselves but we must teach them first on how they should care and use of it in little way of understanding.

2nd question = Buy them Ledger and teach them how to use it , that is the simplest and the safest.

3rd  question = Nope, Authorities must not interfere to something they are not being asked simple as that.

[Blitzboy]

Buy Bitcoin for kids? Interesting idea, but be careful. Introducing children to cryptocurrencies can educate them digital finance. It raises the question: Should children handle assets? Their understanding and market pressures must be considered.

Bitcoin security education is essential for youngsters. To simplify, compare the Bitcoin wallet to a digital piggy bank and emphasize the significance of protecting their "digital key" like a "hoyse key". It's about teaching responsibility without overpowering.

Should authorities limit Bitcoin ownership by age? A pseudo-issue. Such limits are difficult to enforce on Bitcoin due to its decentralization. However, oversight is necessary to protect young minds. Financial knowledge and safety are delicately balanced. Parental supervision may work better than regulation.

[Jaycoinz]

Parental Guild on Bitcoin

I have observe that there is no parental guide to buying and selling of Bitcoin. However, some central exchangers do put age restriction if you want to buy/sell digital currencies and some do not see the need to do so. Specifically, I would like this discussion to focus on Bitcoin or you can make reference to other cryptocurrency to drive in your point if you choose.  I do encourage parents to buy BTC in smaller amounts for their kids that's depends on how they can afford. One of the most likely challenge is how a parent can communicate to the child on the usage, what BTC entails and how to secure there funds.

I have put in written form some ways I can communicate this;

BTC is real and it is money in digital format. You can access it anywhere in the world and convert it to local currency to be use for purchase. Bitcoin is own and control by individuals who uses the internet for access and can do it using Laptop, Phones, tablet etc. Bitcoin is stored in Wallet which has its own unique key or addresses. Buying and selling of Bitcoin is legitimate but there are restriction in some countries and there is also risk involve. You can actually trade bitcoin too but I will not want you to because you need the right knowledge to do so if not you will lose all of it. Bitcoin has lot of benefit but should not be use as a game and get rich quick. You should also no share you password or personal key to anyone as it you funds can be withdrawn without your notice.

Few Questions I will like to get you own input on

Is buying Bitcoin or cryptocurrency good for Kids?

How do you teach a kid to secure Bitcoin incase you are not there?

Should authorities or agencies place age restriction on owning Bitcoin?

I will appreciate you immerse contribution to this discussion.

I don't know about your place but i think where am from there is no age restriction for someone to actually have money, I mean don't you see it that way too? Because from what I have come to know that Bitcoin is, Bitcoin is actually a currency just like every other world currency but the only difference is that Bitcoin is actually a very cool currency and I would like to think that it's because of its advantage over other currency that's why it's painted bad. There are lots of young children who are actually rich in so many currency maybe due to the riches of their parents but also these parents go out and buy so many asset for these kids where same could be done for the kids too with Bitcoin as its a aslo a very good asset to have especially when their is possiblity for it to add interest in time coming.

[glendall]

Few Questions I will like to get you own input on

Is buying Bitcoin or cryptocurrency good for Kids?

How do you teach a kid to secure Bitcoin incase you are not there?

Should authorities or agencies place age restriction on owning Bitcoin?

I will appreciate you immerse contribution to this discussion.

1. a good idea for your child's savings in the future, but to introduce BTC to children, I don't think it's until the age limit that they can trade for themselves on the exchange.

2.At this time, I haven't taught my children how to trade and introduce BTC wallets, so I don't have any suggestions, as I don't think they are worthy of understanding BTC further at this age.

[jrrsparkles]

afaik there is no age limit on buying bitcoin, all ages can buy it, but the concern is why do you force a child who still has minimal knowledge about cryptocurrency to buy bitcoin? let alone teaching them how to store it securely.

I don't know why you guys got such an impression but legally exchanges have restrictions to access platforms where we usually buy bitcoin.

Well, a kid can understand those things better than a parent these days but they will take time to understand why they need bitcoin, why not just use the fiat money?

[SOKO-DEKE]

Is buying Bitcoin or cryptocurrency good for Kids?

Those who are knowledgeable about cryptocurrencies may consider it a prudent choice to invest in Bitcoin for kids. In spite of its inherent hazards, Bitcoin has shown to be a worthwhile investment, according to the theory. Purchasing Bitcoin for kids is actually thought to be a wise and progressive decision. The idea is that early Bitcoin ownership gives kids plenty of time for their investment to appreciate in value. In the future, this might result in noteworthy accomplishments and financial gains.

Furthermore, the goal here is to combine education and investment in Bitcoin for kids, not just buy them some cash. Encouraging kids to learn about Bitcoin assures that they get knowledge and wealth at the same time. Parents may help their children handle and appreciate their Bitcoin investment in the future by imparting knowledge about the world of cryptocurrencies. This combined strategy of investing and teaching opens up possibilities for long-term gains in terms of money and knowledge, making it a comprehensive approach to safeguarding the future well-being of the younger generation.

How do you teach a kid to secure Bitcoin incase you are not there?

It's imperative to teach your children how to protect their investment if you plan to purchase Bitcoin for them. Start by describing the fundamentals of Bitcoin, including how it operates, why it was developed, and why decentralized exchanges are crucial for security. Explain decentralization in layman's terms, emphasizing that it acts as their Bitcoin's superhero shield. Encourage your growing children to conduct independent inquiry and exploration so they can make well informed investing decisions.

Should authorities or agencies place age restriction on owning Bitcoin?

There is no age restriction on Bitcoin users, thus anyone can use it. Still, there may be age restrictions if you choose to use centralized exchanges, which are essentially online marketplaces where you can buy and sell Bitcoin. This is a result of their need to confirm some details about you, such as your age, name and residence address, before proceeding.