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.