Topic: Crypto (Bitcoin) and children personal Finance Education (Read 417 times)

_BlackStar I might disagree with you on the point that bitcoin is not a currency then what is a Currency from your own perception? Can I use chair to buy another goods in the digital market? Of course no, but I can use bitcoin to but goods online. So what a Fiat currency can do bitcoin also do online even those countries that has not taken bitcoin has a legal tender is still using bitcoin as p2p to buy one thing or the other. Like example, a friend might need a particular thing but there is no physical cash and he has BTC so he will tell his friend to give him the thing and further BTC to him and that is buying.

Therefore, I still believe that bitcoin is a digital currency.

Not mandatory, it's really not mandatory. In my case, bitcoin is not a legal currency to use as a means of payment ^{[at least for now].} I am under no pressure whatsoever to be able to tell kids or anyone else that bitcoin is a currency, but I am inclined to say that it is one of the best assets for future investment. So the first lesson I think for them is to understand how money can make money, meaning they have to learn about investing regardless of what they believe will be profitable.

As much as we all hope for widespread bitcoin adoption, I believe that making it mandatory for children to learn bitcoin at a young age is a good thing. But first and foremost, it is critical to first teach them how to learn internet security. You haven't learned anything if you can't protect it from being breached or infiltrated by hackers, no matter how good and hard you've worked for it.

We live in a digital age, and new technologies are constantly emerging, I'm sure your child will have heard of bitcoin by the time he or she is of legal age (18). It is a gradual process, and I am hopeful that it will be included in school curriculum soon so that all students are aware of it in the coming years.

In my religion, there's a quotation from the holy bible that says, "Train up a child in such a way that when they grow, they shall not depart from it." Even in my primarily days in school, we sang a poem titled "Parents, listen to your children" (I am lucky to still find a similar song on YouTube: https://youtu.be/oddBTXeU150).

I am a single father 🤠 and at least I know the potential of giving a listening ear to children and teaching them the best way of life, because if we don't guide them, they can be easily misled by their friends and environmental influences. 


IMO, yes, it should because the bank has lots of issues. When a child's account is created, parents start saving on behalf of the child, but when the child is fully grown into an adult, like 18 years of age, they are required to visit the bank and file in more information about themselves again. I don't know if the procedure is the same in other countries.

The value of the savings does not appreciate, and if it's in a country where the value of their local currency is depreciating, and with the harshness of the economy, it really makes no profit to save money in the bank for our children.

In this digital age, where the knowledge of crypto currency is vastly spreading, parents are now teaching their children about Bitcoin, and schools are emulating the trend and allowing the students to learn about crypto, I think every parent should embrace it. 

Yes. If you have extra money to invest, investing in bitcoin could be a great option and then let your child learn from it through observation and application later on. But of course, I would only do this when my child is already mature enough that can easily understand about investments. Otherwise, forcing him to learn about bitcoin when he’s still in a playtime age, that would make him deprived from his own interests. While financial education is better when taught at an early age, but I also think it also depends on the knowledge level and interest of the child so that he can grasp better understanding from bitcoin investment.

Yes, if we think we are advanced right now, for sure the next generation will still be ahead of us, as they will have better technologies than us and will be exposed more on it particularly with cryptocurrency. But since my kids are still very young and teaching bitcoin and the whole thing as early as now will only make their life complicated so I don’t want them to learn abruptly on bitcoin. I’ll let them learn on their own when it’s the right time. Maybe for now, saving is what I have to teach them since they can eventually start it even at an early age and benefit from it in the future. That is my way of teaching them how to be financially independent and stable when they’re all grown up and build their own family.

I believe that for everything in life there is a more suitable time to better learn the events of life that present themselves before us, among this I believe that teaching the crypto world to one's children must be done in an excellent way because it is a current topic very dangerous, many adults have been hurt with cryptocurrencies so a child is even more exposed to such errors, I agree with you in educating them at an early age but more than anything explaining how they work perfectly and how to keep them. an idea that I had put in my head when my son grows up a bit and is able to learn the value of money and also of cryptocurrencies is to create a scheme with daily activities and when they are performed he will get a prize in btc or other cryptocurrencies, in short try to make it grow and learn that nothing is due if it is not honestly earned

Your parents are good parents and does think of your future very much. The idea that they've given to you when they've open a bank account with your money is about the principle of saving and how to give importance to the money that you own.

These days, it will be a different story and we might see children or teens in the next few years on how their parents have taught them how to keep their money and converted it to bitcoin.

As a parent, of course I want the best for my child's future. But we need to realize and understand that there are phases in the development of our children.

teaching financial management to our children is a great thing if it is taught at the right time or phase. and certainly not by coercion or pressure.

There are 4 important phases that we must know in children's education.

1. phase of play, freedom (live like a king).
This phase ranges from 0-6 years of age. and it is in this phase that the growth and development of the brain dominates. Emotions are also more studied in this phase. and in this phase we as parents have to praise and pamper children more lovingly. let children play and imagine freely. because this phase is an important phase in brain development and also an important phase in developing golden potential for children. things that need to be avoided in this phase are yelling at the child loudly, shocking the child is also strictly prohibited in this phase because it is fatal in inhibiting the neuron cells that are developing very rapidly in the child's brain and will make the child's potential become hampered or even extinguished or suppressed . so that when an adult the child will be very difficult to develop their own potential. what we can teach in this phase is to provide games that are interesting but contain educational and creative elements to stimulate the growth and development of children's intelligence.

2. Phase in the introduction of discipline and responsibility.
This phase is at the age of 7-14 years. So maybe it's at phass that we can start teaching children about money management. such as setting an example to children about saving. But it must be done slowly but consistently. We as parents must set a good example. and maybe a little hard on children at this age a little bit is allowed. because in this phase is the phase in the formation of our child's personality. so we have to really make children know a responsibility and discipline in life. and if we spoil children too much during this phase, it will actually make your child a child with a weak personality. in this phase also our children must be informed about what obligations they have to do. telling children about building a future and pursuing an ideal during this phase can be a motivation for them. and we tell them where the best places to save are. Introducing investment and crypto can also be started in this phase and of course at the level of basic knowledge.

3. The phase of building relationships with children (becoming friends for our children)
This phase is at the age of 15-21 years. well, in this phase we have to be more able to build relationships with children like friends. so that our children remain comfortable to talk to us. and the child keeps asking for solutions and discussing with us every time he gets a problem. and we must attach importance to rationality at this stage. we give advice like a friend as well as a parent. if we are too hard in this phase it will actually make our children close to us and even our children will prefer to confide in their friends rather than us. maybe in this phase we can introduce our children to our investments and all about crypto and bitcoin that we have learned so far. because of course at this age they will need this knowledge.

4. Phase of Freedom, Independence and trust.
 In this phase our child is an adult and let him become an independent person and be able to solve his problems independently. But our advice is still needed for our children. be it moral advice, life or financial advice.

References and basic sources of thought : Klikpsikolog.com

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I have also created a topic about introducing this child phase on the Bitcoin Discussion Board Get to know the Child Phase before teaching Bitcoin and Financial Management.. because I think this topic is suitable to be on the bitcoin discussion board.

Bitcoin or finance should be taught at the right age, you should not think that just teaching them early will make them rich when they grow up. You teach them is one thing, how much they absorb is another. That is why education is divided into age groups, you can't force 1st graders into 12th grade curriculum, that scares them more than they enjoy learning.

My child loves bitcoin pictures, but that doesn't mean he's ready to learn about it by age 4, so I don't recommend early bitcoin education for kids. If he's really interested in bitcoin later on, it's not too difficult to teach, or he can learn by himself if he's passionate enough.

Let him grow up like ordinary children his age, additional lessons that are difficult to understand will make the children a burden. It will be difficult for them to accept it, moreover they have to focus on their education plus assignments from school that must be done at home.
There is no need to demand that children learn Cryptocurrency, our job is to supervise them so that their abilities can develop from education in schools.
The child's intelligence is the top priority, after he is an adult he will be connected with increasingly developing technology.

I agree, I also do not think teaching bitcoin to children is necessary, it should not put pressure on them from a young age, they need to have a beautiful childhood. Bitcoin is just a means, currency, or just an asset to serve life, these things they can learn when they reach adulthood. When they're young, there's more to teach than just bitcoin, teach them how to treat people, teach them to be better people than just focusing on finance. I also have 2 kids, and I don't see the need to teach them about bitcoin, it makes no sense to cram a whole bunch of investing knowledge into their heads when they're giddy kids.

the economic conditions of each family are different, you can make an account when you are a baby, meaning you are a fairly affluent family, or upper middle class.
but there are still many people out there at birth their parents don't even have a bank account, and don't hold a lot of money yet.

educating children about finances is indeed important, but what must be prioritized first is the formation of good character first for the child.
because attitude and morals are number one in a child's education, only after that teach children to save.

I will never disappoint you on your request to stay on in the eve of the New Year to 2023. 2022 has been a blessed year in human life but it was not a favourable year in the crypto space. All the blessings God has for you in this year will follow you to the 2023. And all the obstacles in 2022 will not follow to 2023. God will nurture your children for you to the way you want.

No doubt with your statement about "Children are the leader for tomorrow" we can't take their time for giving education about Bitcoin and personal finance education due they have need many time to make social interaction and waste more time playing with their friend.
Honestly is worth and effective when teaching children to understand about personal finance education and giving them knowledge about Bitcoin investment, but they have time waiting for learning Bitcoin later, don't make them understand early before right time coming for them to learn with Bitcoin.

Give the children space for wasting their time with social activities and have interaction with their friend without push our children have to learn about Bitcoin investment.

It's great that you don't drop the topic you opened. This sets you apart from other newbies who tend to open a thread in hopes of getting merit and then just stop responding. I see that you are reading the answers, this already characterizes you on the positive side. Such communication always becomes alive, and creates a discussion in which many draw useful information for themselves. On the eve of the New Year, I really want you to stay with us and achieve all the goals with which you came to this forum.
Happy holidays to you, friend!

I appreciate your understanding. Parents should understand this thread more than myself the OP.  lovesmayfamilis, You have opened my way in the forum by giving me a merit, I will not forget this DAY. I am excited. This really shows that the OP is not bad. Let other parents in the forum also do the same to their wards instead of giving them allowances every day, instead keep it in bitcoin wallet as 50/50. Bring them up from tender age is good to understand bitcoin is good.

OP. Good start. I am a parent myself, and while the child receiving pocket money does not understand its value and spends it on all sorts of crap, as soon as he grows up, I will certainly begin to tell and show materials about Bitcoin. Now that my child has his childhood, I believe that this is its greatest value, and I do not prevent him from enjoying it. In life, everything should come gradually. As he grows up, he will understand, of course with our help, that it is time to think about the future. But I agree with you that parents can help the future of children by starting today to buy bitcoins in a wallet created for them. However, it is reasonable to do this regularly if the family has no other material needs and there is money that can be saved.

Let's keep the cryptocurrency and bitcoin away even financial and money management knowledge lacks on every sector of this humankind because our education system is not designed in a way to teach them. Recent years there are some changes made in the syllabus but in most countries the same old traditional education system is followed by education institutions.

Evolution of internet paved us a way to learn this knowledge so we the current generation has to transfer the information of inflation and paper monetary system keeps people poor so next gen kids will evolve to against it.

To know Bitcoin at early age, know it's potential uprise and to hold it until it's current prices would be quite a feat. Human mind would surely give in at few x, specially cause the returns BTC were to give would be unimaginable.

But do you really think that all people are invested? Only investors follow investment plans consciously. Almost all of the rest are guided by their intuition. While smart investors do not yet have a clear strategy on how to properly exploit savings.
In this particular period of human history, I do not think that a better stage can be reached only by educating children about the proper disposal of financial resources and awareness of them.

How do you plan to achieve that without telling them what is crypto is all about? Or they will learn as an informal educational system? Then education is an education, whatever way is acquired, it is an education. But the question is if you are the parents and the money gift has been given to the new born baby in it dedication/ name ceremony day, what will you used the money for? As I put on my own, it was used to open bank account for me. But if I am the parents in the dispensation, I would have kept it in a BTC wallet instead of keeping it in the bank for worthless years.

Then teach them crypto gradually till they understand it all when they grow up. They way they will understand Fiat currency is will the same way they will use to understand bitcoin but in a gradual process.

Teach the children to know BTC

True, the couldn't have done more than they did since, as at 17yeara ago, bitcoin was non existence and with them so keen on having nothing to do with your gift of $20, it still remains a good decision for them at the time.
Although, I suppose that was to be a fixed deposit account for which, cost of maintenance isn't supposed to affect your money negatively. At the very least, you should be paid an interest for operating a fixed deposit account.

What really could be the case as per the depreciation of your savings worth is the every day inflation we've got in our individual nations today. I cam tell you that there are certain notes in my nation that can't buy any bit of a commodity. A note that some 17years ago could acquire you 2-3 of a commodity and now, it can't afford one. Loosing it's value completely and that's so sad.

Taking note of the developments in our world now, the bitcoin innovation has made operating a fixed deposit account seem like a worst choice. Perhaps best for some persons but, some $20 bitcoin investment at the moment surely would be worth something in 17years. Its an enlightenment that needs to be adorn by people wth a new world order initiative. Fixed deposit in fiat's isn't equal to bitcoin investment in approximately,  same time frame.

I’m certain the next generation will be more exposed digitally but I think teaching children cryptocurrency at an early age is too much workload to put on them. Kids should be allowed to be kids, and not put under the pressure of adulthood at an early age. There’s so much happening in the world today that would make a parent worried, teaching my kids bitcoin isn’t top priority for me now. Hopefully by the time my kids are all grown up crypto would have been integrated into the system.

In their shallow defense, Bitcoin did not exist 17 years ago, so they couldn't have put it into Bitcoin, at least not right away.

I'm all for financial education from an early age, as it's a vital component which the school system doesn't cover. But, we should not herd kids into Bitcoin, as there are investment opportunities beyond this niche.
Teach kids how to build capital, how to recognize a problem and solve it, money management, how to choose investments etc and let them gravitate to ventures that interests them.

It's perfectly alright if they are not interested in it as we are.

Children are the Leaders of Tomorrow, the way you train your child it will be the way it will grow.

My parents told me this has I grew up to adolescent stage. When I was a child, and it was about three months from my birth and my parents took me to the church for dedication/naming ceremony. After the ceremony, I was given $20 as a gift. Then my parents used it to open bank account for me. Since then till the $20 that was deposited to the account has been depreciated instead of appreciating. And when I tried to know why, I was told that they they deduct it for the maintenance of the account. This was 17 years interval. But from the knowledge I have gotten from crypto (bitcoin), this amount would have been appreciated to a reasonable amount.

That should be a CAPITAL YES, the money should be kept in bitcoin and when they are growing up, you teach them how to use the wallet gradually until they become perfect.

Crypto can help teach children about personal finance
Financial literacy means a lot to the development of children. Teach them how to manage, budget, scale of preference and invest on bitcoin. The earlier is the best. This also lead me to remember an idiomatic expression that says, " Early Bird Catches the Worm".

According to "National Financial Educators Council (NFEC) said, Americans lost $1,634 in 2020 due to the lack of financial management Skills". And also

The followings are some of the threads on children education on cryptocurrency.

https://bitcointalk.org/index.php?topic=5374104.0;all
https://bitcointalk.org/index.php?topic=1097198.1340
https://bitcointalksearch.org/topic/invitation-to-teach-bitcoin-in-a-school-5414239
https://bitcointalk.org/index.php?topic=5400834.40
https://bitcointalksearch.org/topic/are-your-kids-aware-of-bitcoin-teach-them-5392260
https://bitcointalksearch.org/topic/bitcoin-class-in-my-village-high-school-5403925

These are good examples of children education on cryptocurrency. I really appreciate them. I got those links through the search button on Google.