4 Tips To Introduce Cryptocurrency To Children
- Dec 15, 2021
Around a decade ago, play time for kids meant getting out of the house, running around on a playground and coming back covered in mud. Now, during playtime, you can find kids stuck to mobile or computer screens, trying to run a digital race or making lines out of candies. Today, children are more invested in gadgets and live their lives online. This increasingly digital nature of our lives has also seeped into the financial markets, giving birth to currencies that operate entirely through the internet.
Yup, we’re talking about cryptocurrencies. Often lauded as the future of finance, cryptocurrency is a great investment in your child’s financial future. So, how do we introduce them to it?
Diving Into Bitcoin Land
Well, it’s best to start slow. Mention some cryptocurrencies in passing conversation to pique their interest. You could probably talk about Dogecoin. Because who isn’t fascinated with Shiba Inu dogs? Once they know what cryptocurrency is, here are four tips to help them start using it -
1. Get Them a Crypto Wallet Instead of a Piggy Bank
Saving is important, and parents give their kids a piggy bank to make it easier. Collecting dollars and dimes can be fun, but nowadays, most transactions have gone digital with credit cards and digital wallets. If you give your child a crypto wallet, they will understand the concept of cryptocurrencies better and through practical use. There are also apps that you can use to give monthly allowances to your child or as pocket money for chores.
2. Explain Cryptocurrencies Through Videos
A verbal lecture without any interactive content will make crypto a difficult topic to pursue. So, go online to unearth a plethora of videos/interactive material that explains cryptocurrency based on the age of your child. An audio-visual performance will also help children retain the information better. You could also create presentations based on your child’s interests and talk about cryptocurrencies in a way that interests them.
3. Talk About the Context of Cryptocurrencies
To understand the importance of digital currencies, you need to talk about the history and present of crypto, starting from the financial crisis of 2008. Explain the risks and volatility of the crypto market, while also underscoring the investment opportunities that come with it.
4. Make It Interesting Through Games
Does your child love playing games on screens? Your answer is probably going to be yes; and you can monetise this love by introducing play-to-earn games. Axie infinity is one of the popular ones which uses blockchain technology. It allows your children to win in-game tokens and use them in the gaming world. The game is very similar to Pokemon and has a high chance of getting your child familiarised with the concept of mining digital tokens.
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