Gifting Bitcoin to minor - page 3. | Bitcointalksearch.org

usekevin

hero member

Activity: 2170

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Quote from: Coingifter on November 21, 2021, 11:29:54 AM

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

All the elder people in forum will have some bitcoin in their wallet.So they can give to some little portion of the holding to the people with less knowledge about crypto.It maybe their trigger to get into cryptocurrency field.If more and more will get into crypto.We can able to see,huge investment in short period.People should take care of hold by using security like google authentication.

SFR10

legendary

Activity: 2968

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Crypto Swap Exchange

Quote from: Coingifter on November 21, 2021, 12:17:45 PM

Just a minimum amount which appears to be 30 UKP.

Are you referring to the British Pound? If you're willing to spend a bit more and get your nephew something that "also" has a different kind of value, then I'd suggest looking at the "Collectibles" board and choosing the cheapest funded and graded collectible coin that you can find ^{[he has to break the case, in order to get to the private key]}.
^{Note: DYOR before trusting any of the sellers!}

Quote from: Coingifter on November 21, 2021, 12:17:45 PM

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?

In addition to what Jawhead999 posted, the following feature might come in handy: Timelock

Jawhead999

legendary

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Quote from: Coingifter on November 21, 2021, 12:17:45 PM

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?

It looks like you're want to use exchanges/custodial wallet isn't? Well it's very not recommended to leave your exchanges for a long time, we don't know the future what the future of your exchanges. Only in 1-3 years there's a lot change on each exchanges, it could be hacked, exit scam, shut down, popular etc.

Yeah you can create watch only wallet only by importing the public key (not private key or seed) of your wallet, so your nephew can't do anything except read the balance and transaction. It's only for non-custodial wallet.

Baofeng

legendary

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Quote from: Coingifter on November 21, 2021, 11:29:54 AM

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

Paper wallet would be a good idea.

Or follow this tutorial, (might be outdated though), but the idea is still there [Howto] Give Bitcoin as a gift.

Or you can buy this: https://opendime.com/ and use it as a gift.

Mbitr

legendary

Activity: 1890

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Bitcoin needs you!

I’ve given bitcoin to my own children and they are under strict instructions to HODL

They are using a phone wallet at the moment. You should always make an off line produced paper wallet or something similar - possibly with 2fa or split keys - so that he can’t access the funds without your permission.
I’m not the most technical, but I’m sure some other members will come up with a perfect solution. Good luck and well done promoting Bitcoin.

Coingifter

newbie

Activity: 11

Merit: 9

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?

YOSHIE

legendary

Activity: 2086

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Quote from: Coingifter on November 21, 2021, 11:29:54 AM

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

There is no law that prohibits you from introducing and giving Bitcoin to your child, as long as he knows how to operate the internet, android cellphones, computers and laptops, everything is fine, not a few parents are introducing and giving Bitcoin to minors, in this world, including me.

Bitcoin is not something that demoralizes minors, it is an asset that everyone needs to know including children, if they want to know.

Conclusion: what do you want to do for your child, that's ok, what else want to give Bitcoin, so how old is your child is a minor, 10 years and under are still categorized as minors, except: your child is still a baby, that's just blaming the law, you can say the person who gave it doesn't know the law.

Mbitr

legendary

Activity: 1890

Merit: 1321

Bitcoin needs you!

What age would the “minor” be ?
You would have to think how responsible they are, what do they know about money in general , what do the know about Bitcoin ??
Definitely an introduction to how FIAT works and how Bitcoin works would be the first step. Then an introduction to wallets, including hot and cold wallets. Would they be using or saving the Bitcoin ?

Coingifter

newbie

Activity: 11

Merit: 9

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

Topic: Gifting Bitcoin to minor - page 3. (Read 807 times)