I have recently started investing in crypto, and I have now decided to create crypto savings accounts for my children. 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?
I'll be depositing funds in their accounts regularly, which will keep sitting there for about 6-10 years, so I'll be looking to accumulate some sort of interest during that period. What options should I consider for this?
Just use a noncustodial wallet where you have total control of your portfolio, you only need to give them the private keys, but before they reach the age where you will hand them the private keys, be sure to educate them on how Cryptocurrency works and the whole situation in the Crypto industry, what I mean is the many hacking, scamming, and dramas, I'm sure these will still exist and they know how to secure their wallets and of course how to trade.
I prefer hardware wallets to store coins for the future.