Sounds good to me, thankyou.

is Kraken any good? I have signed up and am good to go...aiming for small initial investment ($30) and low buying/seeling fees...

Well, I do like to think am quite a techie person, I just like to fully undersetand things. I am a newbie who is learning.

 I am going to research in more detail yet.

Thanks for the recommendnation.

OK, sounds like the worst that can happen is he messes around and blows it.

I am going to talk to his parents and if they give the OK, explain Bitcoin as best I can and offer him the options, including cash. In fact, I saw him last night at a  family get-together and gave him a bit of a tutorial on what I had learned so far and set some "homework" f watching copies of short videos on Bitcoin.   

Either way, I will soon be ready to dive in with a minimal purchase of my own just to get the hang of it. Any recommendations for an exchange with a low minimum charge (under 50 UKP) and low commsiion?     

Do I  have any other option, him being a minor? So how do I give him Bitcoin in a way that ensures he cannot tinker with it? I am concerned that he might try to buy more using my debit card credentials. Not saying he would, but just want to make sure.

Yes, good idea to teach him about Bitcoin. He is very financially aware for a 12 year old - indeed, I jokingly call him "breadhaed" soetoimes. I hope he may have a career in the City of London one day, if that is his inclination.   

Thanks. I am getting there

I am about ready to plunge in. So if  I have this right, I buy the Bitcoin, then transsfer it to my nephew, but only one of the keys (public I believe but need to check this).

W/he can use a paper wallet and if I want I could fund a coin with it.

He would have no right to trade or amend things in any way as I retain the private key (?)

When he is 18 I could fully transfer everything to him legally.   

That is helpful, thank you. Agree, I am still very much a newbie and think I will plump for a paper wallet for now.   

I will do more research. It does seem complicated but I can keep at it. 

So I am on a learning curve here. Ben watching some Inrtroudtion to Bitcoin videos.

I would prefer to gift Bitcoin in a more ta tangible form than paper.

I presume the Bitcoin coins you can but for just a few UKP are inherently worthless and need to be funded?   If so, how would I do that? What woudl be the advantage of buying one via the forum linked above?


I presume the Bitcoin credit stick comes pre-funded if that is the right terminology?

So if it costs USD 39 then that is 39 USD worth of Botcoin?

Interesting - thankyou everyone.

Thanks for these replies. It's for my nephew who is 12.

Just a minimum amount which appears to be 30 UKP. For saving,  as he is already a keen saver and has said he would like some Bitcoin.

I would be nervous about him dabbling in dealing - are there safeguards to prevent this? 

I have also considered putting it in my own name and transferring it to him legally when he hits 18.   Is there any way of giving him "read-only" login rights to an account so he can check the value without being able to tinker with anything?   

I would like to gift Bitcoin to a minor - how would I do this please?