Children are children and they will always behave as one.
In DEX, we don't create wallet there, we only connect our already created wallet to the DEX exchange. Only CEX allow you to create wallet on there website, all some assets in it before you can trade. Which is far more suicide because this CEX website can go down and never bounce back again.
IMO, I think hardware wallet is the best option here.
Topic: Childrens Wallets (Read 513 times)
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
Welcome to the forum, it's good to know that you are worried about your children's future. I would suggest you first acquire the complete information then invest in savings. Must be known that the regulatory rules aren't against it.
Also, the future of these sites is always uncertain so we can't rely on them completely. But what I can suggest here is to go for hardware wallets. As they are more reliable.
Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography? 
If your child knows what money is he should know what cryptomoney is too.
That’s not true, 15 years of age is not late for anyone to learn Everything they want to know about cryptocurrency. Moreover, a lot of people who are here are already in their 30s and 40s when they got to know about cryptocurrency, but they still learnt about it and they are good at it now, with some of them becoming programmers and developers in blockchain, and also others becoming good investors and traders, and making lots of money to even be able to take care of themselves and their family. If your child knows what money is he should know what cryptomoney is too.So, the age doesn’t even matter, a child can learn about cryptocurrency at any age. I believe that as long as it is a brilliant child, they would always be able to come up with new ideas or innovations that will profit them in the future. Just like the two kids that were able to start up Ethereum mining and it became a success and they’re making a lot of money from it.
Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography? If your child knows what money is he should know what cryptomoney is too.
That’s not true, 15 years of age is not late for anyone to learn Everything they want to know about cryptocurrency. Moreover, a lot of people who are here are already in their 30s and 40s when they got to know about cryptocurrency, but they still learnt about it and they are good at it now, with some of them becoming programmers and developers in blockchain, and also others becoming good investors and traders, and making lots of money to even be able to take care of themselves and their family. If your child knows what money is he should know what cryptomoney is too.So, the age doesn’t even matter, a child can learn about cryptocurrency at any age. I believe that as long as it is a brilliant child, they would always be able to come up with new ideas or innovations that will profit them in the future. Just like the two kids that were able to start up Ethereum mining and it became a success and they’re making a lot of money from it.
Children are not mature they download wallet apps and made account they not know the features of wallet they invest their money and they lost their money and if they forget their seed phrase Wallet will bi stuck and can be lost.
I do not allow my child to manage a digital wallet because my child is not ready, I will wait for my child to be over 15 years old then I will introduce my child to how to manage a digital wallet.
Fifteen years old it's very late to introduce cryptocurrencies to a child. Why are you waiting a such old age? Your child is not clever enough to understand the basis of cryptography? If your child knows what money is he should know what cryptomoney is too. 
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
It's a strange concept to setup a wallet independently for a child. It makes sense for a savings or stock market based account, where it could grow every year at a different rate and separate from your own personal funds. However Bitcoin is static - it's not changing over time. It'd be simple enough to just mentally separate the funds in your account to allocate x amount to your children, rather than dropping it into different wallets that could possibly get lost or have different problems with accessibility in future. The best way to do it might be to pick a physical cryptocoin provider you trust or something like the ledger hardware that gives you a safe, readily accessible physical wallet.
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
And what is the actual need to create crypto wallets for your children? If you are talking about cryptocurrency wallets, then the information about the owner is not indicated there. This applies only to centralized crypto platforms, and even then not always. Again, if you want to create a wallet for a child on a centralized platform, then you will not succeed, since there are age restrictions. As for the accumulation of wealth, you can easily do it on your crypto wallet and, if necessary, share this wealth in the future with any person, including your children. So personally, I see no point in creating crypto wallets for my children.
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
Consider this factor, +how old are your children, + when is the ripe time you intend to let the cat out of the bag and give them what you have saved up for them, also would DEX and exchange still be a thing or even available then and if they are what if they create some new law by themselves or forced on them by the government of your country, you have to be very sensitive when trying to save for future reference or usage. 
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
I think what matter is to have the seed phrase or private keys. The name you use for registrating them on a decentralized platform wouldn't matter as far as I can tell. If your kids control the keys, they can use they keys on another platform/wallet and your name will not appear on their accounts.
You could also lock the funds for certain period of time to prevent them from withdrawing when you give them the keys. The locking of the fund wouldn't prevent you or them from always sending or adding more money to the addresses/accounts
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
Why not a paper wallet ?
Why not generate seed from a non-custodial wallet in a cold storage device ?
Just keep the seedphrase protected at all times and you will be good to go.
You will just need the public key to keep depositing the bitcoin whenever you can.
Once your children are old enough to understand how to use cryptocurrencies you can teach them all about crypto.
In general, this is not a bad idea. But you should also understand that you need to prepare your children for this. Otherwise, the result may not be the most positive.
So you wants to save for your children simply just use Hardware wallet it for safe and secure. Although you should teach your child crypto basics knowledge if you lost then who will recover savings.
Don't youse Cex - Centralized Exchange
Don't youse Cex - Centralized Exchange
You or your children will be the owner of the coins if you have the private key with you. I can advise that you should create one or more trust wallets for your kids and deposit funds in those wallets. Once they grow up, you can hand these wallet to the kids by giving them the private keys. If you can afford, you can buy a hardware wallet for each of your kid.
A wallet for a child is a great idea, it's like preparing money for the future. By storing crypto currency, of course there are risks and benefits. Luckily without admin fees but you certainly have to consider unstable prices and you also have to choose a cryptocurrency that will not scam. Honestly, at this time I have not prepared a special wallet for children. But for fiat money I set up a bank account. Then regarding the hard wallet, maybe that's the best way to secure funds, because I also store there. 
I do not allow my child to manage a digital wallet because my child is not ready, I will wait for my child to be over 15 years old then I will introduce my child to how to manage a digital wallet.
if this is to be realized, then each child has their own wallet, besides that we can set aside cold money to start investing according to their abilities, if your child is still small at this time, then over time at least they can be guaranteed good educational facilities at affordable costs. later taken from their respective wallets, without paying attention to it, the investment will grow in value and avoid inflation
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
What DEX you've been talking into?Doesnt really need to be a DEX or something like that because if you particularly talks about web wallets then stick with non custodial ones like Electrum
which you could really possess its keys which is a must.
Thing here is that make sure that you have able to explain it well about into your Children on what is crypto is all about.
On how to access funds and how to make out conversions so that on the time that they are already
aware then thats the time on giving out that posession of those wallets.
There's no problem as long as you're holding your private key. It's all that matters and you can import that whenever you can. The thing is about how they'll keep the private keys. Or before he gives it to them.
Maybe before they turn 18 or until they understand how wallet works and if they know how to make their own wallets and understands the concept already of bitcoin and wallets.
Partly true, but not in all instances. Some websites for example allow you to have a wallet, retrieve the private key, and therefore you have the private key to that address. However, you can't guarantee that they also haven't stored that private key in their databases, which is a risk. Its much better to generate the private key yourself, and not rely on someone else doing it for you. Maybe before they turn 18 or until they understand how wallet works and if they know how to make their own wallets and understands the concept already of bitcoin and wallets.
I think this is a point often missed when recommending what wallet to go for. Usually, we recommend anything which allows you to have access to the private key, but really we should be recommending only keys that you've generated yourself.
When it comes to security or even privacy to some extent, third parties are generally not a great idea. There are a few exceptions, but not for your personal wealth.
Its a good idea. But don't forget to save their keys. Every person have their own opinion and strategy for long term holding coins. Don't forget to name these wallets.
How many wallets you are creating according to your children future planning. Its a good idea but i did not think about this. Because i am still unmarried.
How many wallets you are creating according to your children future planning. Its a good idea but i did not think about this. Because i am still unmarried.
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
maybe it's not necessary since you already have one.. Even it's for your kid it doesn't matter i think , because the more you hold there will be a good profits afterwards. 
but just keep your private key to the safest place.. Or i suggest print it to a piece of stainless like what others doing to prevent lossing it from any disaster, and of course it's up to you where do you want to hide which is for you easy to find as well. Jump to: