Is it possible to create accounts/wallets in their name, that I can control while they are minors, and that they automatically will become owner of when they turn 18? Or will I need to create a crypto account for myself and just manually gift it to them when they become of age? What might be the smart solution?
It seems like you're planning to sign up in a centralized wallet because you've said it under the name of your child.
No, that's a big mistake, don't trust any centralized wallets and store your Bitcoin for a long term that is intended for your child saving. That's not how will work. Centralized exchanges will have a right to your Bitcoin anytime and not under your control or your child's.
Choose these
[BIG LIST] Hardware wallets (80+) which are very safe to store your Bitcoin that you've control on it. You can keep it and give it to your child when at the right age.
I always said here this valuable rule for storing your Bitcoin, "
Not your keys Not your coins".
So are you saying bitcoin or other crypo funds are never safe, unless they're on a flash drive or something?
I started investing in crypto about a month ago, buying BTC at the Binance Exchange. I understand it's the world's largest crypto exchange is it really unsafe to keep funds in a Binance wallet or any other wallet at a large crypto exchange?
I've recently transferred all my cryptocurrency to Pionex, hoping to earn a little with their trading bots. Is it also consided unsafe to keep my crypto in the wallet at Pionex?