Quote from: ReddaJoppe on February 01, 2023, 01:22:53 PM

Quote from: Darker45 on February 01, 2023, 01:58:56 AM

What do you mean you're "looking to accumulate some sort of interest during that period?" If you're thinking of a bank-like scenario, that's something not advisable as it means you will entrust your funds to a custodian. It's risky and not worth it. The best way is to have your funds kept in a cold wallet. Forget about interest. It could mean your children might not be able to enjoy it.

I'm aware that it doesn't work like a bank account. I've been reading about possibilities to earn more crypto simply by holding it. One option is staking, but it sounds like there are other possibilities as well, but I haven't looked that deep into it yet, and it also seems a bit complicated. That's why I'm asking.

Yeah, there are indeed a number of ways to earn from your savings. And, yes, staking is one. But all of them are risky. And the longer you keep your funds there, the higher the risk. In the end, everything might not be worth it. So, save yourself from that complication and save your children's future.

You must have encountered the likes of BlockFi, Voyager, and Celsius in the news. Those are where you could invest your savings. Those are giants in the crypto industry. Those are all dead, clients' money included.

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Quote from: Darker45 on February 01, 2023, 01:58:56 AM

Also, since this is for the next 6-10 years, you might want to focus only on Bitcoin. Avoid altcoins as it could mean they're already worthless by the time they're given to your children.

I was thinking something like 50% BTC, 25% ETH and 25% others (is there some sort of crypto index of the 20-50 most popular or valuable coins that you can invest in?) Does that sound sensible?

75% BTC, 25% ETH is tolerable. But you might want to consider 100% BTC. But 25% others is courting unnecessary risk.