Kids buying stuff with crypto

[Baki202]

Since we are living in a world where digital payment is a norm and parents want to teach their children about cryptocurrency, I believe kids of nowadays will surely find crypto appealing, and those kids that come from a wealthy family and can buy any crypto of their choices easily will prefer to use crypto and pay for services in an online shop or online gambling site that accepts crypto as payment.

We know how kids are, they will want to try everything out in their power to make things interesting for them, and they will want to try out new things, and this is why things like this happen, because they will want to actually explore, and as far as the store accepts bitcoin, I don't see anything wrong with kids making use of it, and this will even make them have interest in bitcoin and all this because they are spending it, and they will want to explore more, and this is how it is supposed to be. And when they start using it to buy the next thing, it will be for them to invest, and the parents are doing these things so that the kids can have their own interest in investing in Bitcoin.

[bangjoe]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

[Kavelj22]

There is every tendency that kids will be buying things or stuffs with Crypto I wouldn’t doubt that anyways, considering that the world we are living in right now is a digital world and so many things can actually happen and the future is uncertain, because people doesn’t know what will happen in the future so I wouldn’t completely dispute this claim right now, when you see Children of this generation like they call themselves Gen Z generation, there are so many things that they know and sometimes you wonder how they know this things, because during the age of the Millennium things was quite different, the technology that is here now is unimaginable, so I think it’s absolutely possible for kids to buy stuffs with Cryptocurrencies digitally.

Let's be a little be realistic about the matter children buying things using cryptocurrencies. If it's a digital product, it's easy to buy and there are already some online stores for digital goods accept crypto. If it's a physical good, it's not easy accessible because the buyer has to provide delivery address with all the necessary info. Unless they give false information, kids can't really by things in real life.

Should adults let this happen or they are having the excuse of not knowing about this can happen?

[wiss19]

Many kids will fall for social engineering, hacks, and even scam artists. Only a small few are smart enough to avoid getting duped by malicious actors. I think developers should add some sort of AI assistant to the wallet that would prevent kids from making a wrong decision. Another solution would be for parents to create a multi-sig wallet which forces kids to ask for their approval before making a transaction.

Either way, I don't think such risks will impede kids from trying out crypto. They're always curious, seeking out new things to explore. Once cash is phased out from existence, kids' adoption of crypto will rise. I mean, it will be the only form of money kids will be able to use without undergoing KYC/AML checks. Not sure how CBDCs will work in this regard, though. Especially when it comes to minors. Just my two sats.

I would also point out that, if they are not using their parents money, and only earning crypto by working for it and doing tasks, or jobs, then it could be even good for them in the future to lose that money. Obviously if they lose a lot of money of their parents that could ruin an entire family, but if a kid has worked for a token for example, or a website or whatever and made some income, and lose all of that, the only thing lost would be their manpower for some hours, like it's just time they lost, nothing more.

But what they get in return is education on how scams works, and they would prevent them to be scammed in the future, the more you get scammed, the less likely you will get scammed again, and learning that at young age is great.

[abaeze]

This may sound like a stupid question, but is it possible children will buy stuff using crypto in the future? I mean, today's generation is "digitally-native". Long gone are the days where kids used to pay for stuff with cash. In this era, digital payments are the norm. Since non-custodial crypto doesn't require KYC checks of any kind, any kid can set up a wallet, receive crypto, and start spending wherever it's accepted physically or online.

Do you think kids will find crypto appealing? If not, why? Your input would be greatly appreciated. Thanks. 🙂

Since their generation will be the most different, investing in crypto by them will become a very common thing. Children are very interested in online gaming and online gaming has now become their hobby and daily habit. So they are getting acquainted with different tokens or coins through this from a young age. Now they also know what tools to use for new games. So even for gaming, children will learn crypto. So I am very sure that through online gaming, children will gain knowledge about crypto and they will not feel any hesitation in investing in it.

[NurseHub]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

This future we are talking about is not that far, it's more closer than you can think of it, in today people and children use crypto better than the early days and soon they will be using it more often.

In terms of tracing transactions I think not everyone will be having such watch over their finances soon especially kids because I can see children saying they own YouTube channels that pays them and they spend it however they want yet parents don't look into what they use the money for this gives me the courage that parents might not even figure out.

[bangjoe]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

This future we are talking about is not that far, it's more closer than you can think of it, in today people and children use crypto better than the early days and soon they will be using it more often.

In terms of tracing transactions I think not everyone will be having such watch over their finances soon especially kids because I can see children saying they own YouTube channels that pays them and they spend it however they want yet parents don't look into what they use the money for this gives me the courage that parents might not even figure out.

5 years from now is too close, so it's likely a decade or more because there has to be a generational adjustment regarding the mechanisms of life like this to develop faster, and adoption is still below 20% regarding this crypto, even though it is already known by many, but in real world application it is very minimal so we are not ready in the near term in terms of system and permanent security.

It is impossible for a child to make money easily without his parents knowing, especially with a YouTube channel, do we think that YouTubers are becoming decentralized? Of course not, verification is definitely there to meet the standards of paid creators there.

[NurseHub]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

This future we are talking about is not that far, it's more closer than you can think of it, in today people and children use crypto better than the early days and soon they will be using it more often.

In terms of tracing transactions I think not everyone will be having such watch over their finances soon especially kids because I can see children saying they own YouTube channels that pays them and they spend it however they want yet parents don't look into what they use the money for this gives me the courage that parents might not even figure out.

5 years from now is too close, so it's likely a decade or more because there has to be a generational adjustment regarding the mechanisms of life like this to develop faster, and adoption is still below 20% regarding this crypto, even though it is already known by many, but in real world application it is very minimal so we are not ready in the near term in terms of system and permanent security.

It is impossible for a child to make money easily without his parents knowing, especially with a YouTube channel, do we think that YouTubers are becoming decentralized? Of course not, verification is definitely there to meet the standards of paid creators there.

I think I agree with you to a very good extent especially when it comes to how fast the crypto world has become in adoption yet it's still not over a high number of the world population which means that we could know about it but not adopting it yet, so its true that we might take longer than I thought we will, maybe you're right in the decade or more but however, for the YouTube kids, I personally see someone them brag about how their parents knows nothing about what they do but however its still possible that parents will know when they have to fulfil the KYC requirements so yeah you are quite right.

[bettercrypto]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

I believe that times are very different now, especially for the youth of this generation, honestly speaking. When something piques their interest, they really won't let it go until they've fully understood and mastered it.

This is especially true with the technology we have today. However, it’s still quite rare for kids to take an interest in these things on their own, unless their parents teach them at an early age about the practical uses and features of things like the money we use to pay for the commodities we buy most of the time.

[Abiky]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

"Naughty"? As in kids committing crimes with crypto online? The odds for this are very slim. But if you mean, making unauthorized purchases (purchases not allowed by their parents), that's another story. With how transparent popular cryptos are (Bitcoin, Ethereum, Litecoin), it would be easy enough to track kids' financial activities online. In the case of privacy coins, it's almost impossible to do such a thing.

I seriously doubt a kid is going to know how to use a privacy coin, though. Especially when many privacy coins have a slight learning curve. Monero is hard to understand by those coming from traditional cryptos. Grin is even much harder to learn. Besides, merchant/business adoption for privacy coins is limited. Bitcoin would seem to be a much better option for kids, imo. Adoption is just getting started, anyways. Kids might either use CBDCs or crypto massively in the future. Only time will tell.

[SirLancelot]

5 years from now is too close, so it's likely a decade or more because there has to be a generational adjustment regarding the mechanisms of life like this to develop faster, and adoption is still below 20% regarding this crypto, even though it is already known by many, but in real world application it is very minimal so we are not ready in the near term in terms of system and permanent security.

It is impossible for a child to make money easily without his parents knowing, especially with a YouTube channel, do we think that YouTubers are becoming decentralized? Of course not, verification is definitely there to meet the standards of paid creators there.

We are enjoying a 15 year period with bitcoin already, so 5 years is not that far away but also not something new anyhow. We are seeing how it will be 20 years in bitcoin world in five years and for 20 years that means there will be kids who are working for bitcoin that were born after bitcoin was created.

Paper was published in 200, and first coins were mined in 2009, that is 16 years already, in 5 years it's 21 years , and someone who is 20 years old could work, and that means he was born AFTER bitcoin was initially created. This is why generational change already happened, do not get me started on people who are in their 30's or 40's, they saw bitcoin when they were very young, so they all are interested as well.

[Dkstx$~]

Kids could find crypto appealing since they’re digital natives, and non-custodial wallets let anyone pay instantly. But risks like scams, volatility, and lack of regulation may limit real adoption. Still, as crypto becomes mainstream, it’s likely some teens will experiment and spend with it.

[bakasabo]

That might happen in the future, I think I will see more of their transaction records if that really happens in this world, just imagine if our child is naughty it will be easy to trace the transaction records, unlike cash it is very difficult so parents can't see and know what they bought and just ask they can find out if the child is telling the truth.

I see developments and thoughts about the world of cryptocurrencies, this is very possible in simple examples in several countries that have allowed bitcoin, and this is included in the context, especially if using other crypto assets.

"Naughty"? As in kids committing crimes with crypto online? The odds for this are very slim. But if you mean, making unauthorized purchases (purchases not allowed by their parents), that's another story. With how transparent popular cryptos are (Bitcoin, Ethereum, Litecoin), it would be easy enough to track kids' financial activities online. In the case of privacy coins, it's almost impossible to do such a thing.

I seriously doubt a kid is going to know how to use a privacy coin, though. Especially when many privacy coins have a slight learning curve. Monero is hard to understand by those coming from traditional cryptos. Grin is even much harder to learn. Besides, merchant/business adoption for privacy coins is limited. Bitcoin would seem to be a much better option for kids, imo. Adoption is just getting started, anyways. Kids might either use CBDCs or crypto massively in the future. Only time will tell.

Children are very creative and maybe we can say already advanced than adults in making digital payments. My child told me that children at school use: 1) in-game weapon skins 2) game account and digital game keys as payment or exchange for items. I think they are on another level than us adults. I have heard stories about one child purchased mobile online, paid in "skins" which he got while playing and traded them to increase his capital. Other child is renting game accounts. They are spinning in their own world of payment and currencies. I think they are already aware of crypto, but their parents dont realize that (or dont know about crypto at all), and because of that we know little about "Kids buying stuff with crypto".

[Wakate]

Kids could find crypto appealing since they’re digital natives, and non-custodial wallets let anyone pay instantly. But risks like scams, volatility, and lack of regulation may limit real adoption. Still, as crypto becomes mainstream, it’s likely some teens will experiment and spend with it.

For kids to be using cryptocurrency to purchase what they like online, they must have learnt that from their parent.
Children that have parents that knows about cryptocurrency would easily adapt without much time than children that don't have a parents that have knowledge about cryptocurrency. The difference is clear for how the kids must have easily get along with cryptocurrency.