I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
This is a good thing and can be the good gift ever. You give your niece the Bitcoins in the form of a wallet that is more than possible and you would not need to include the intermediate agents like the one you mentioned. This is the good side of Bitcoin and this act of yours will entice her thoughts about investing in the cryptocurrency from a very early age which matters a lot. Plus as she grows to 18, she would already have a big worth to carry out other economic activities in case there is addition to the value of the coin and I am sure there will be. 
Topic: Giving Bitcoin as a gift (Read 314 times)
I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
after all for what you give bitcoin to a child who is underage, yes unless you can outsmart it, maybe it is legitimate. It's better to give something useful than to give bitcoin, we should understand that there is a certain limit for someone to understand about things that should not be time for them.
Give your niece a smartphone to keep contacting with you i think its better.
Before getting other people to be involved with Bitcoin, I heavily suggest that you make sure that you actually know what you're doing first. Leaving your funds in Coinbase is a bad idea. Coinbase is an exchange, and only treat it as it is, an EXCHANGE for Bitcoin<->fiat. Not as a wallet for storing your funds.
Read:
That is actually what I was going to address. It seems actually that the OP does not even understand the importance of cold storage when it comes to holding for long term to be thinking of coinbase account for holding which in this case is centralized and in that case, anyone using it does not have any control over their wallets.Read:
- Topic: [General] Bitcoin Wallets - Which, what, why? https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
- Bitcoin/Cryptocurrency Wallets & it’s Risks https://cryptosec.info/cryptocurrency-wallets/
Also, it is very imperative to let the niece understand what he is giving her, the importance, what makes it tick, why it is going to be a good hold for the long term, and how she can always keep it secured. This is a jet age and you will be surprised at how these kids can quickly catch up. At least in such case, a paper wallet will even do, but at least make sure she understands how well she will need to keep it secured.
If you want to gift bitcoin to your niece which is minor you can use other wallet that you think minor is acceptable in your wallet. Better teach to your niece better if she hold the bitcoin that you give to her until the price increase very high.
Do you think that when donating a Bitcoin wallet to a child or a loved one when it suddenly rises you will not take back the wallet and sell Bitcoin? Say something that will make you ready to give someone some time and let the receiver of your gift decide everything.
If you want to gift bitcoin to your niece which is minor you can use other wallet that you think minor is acceptable in your wallet. Better teach to your niece better if she hold the bitcoin that you give to her until the price increase very high.
Please don't send her bitcoin with a Coinbase account, set her up with a simple online web wallet (which is going to fit her needs fine) Or if you want to get a little more into it, then you should go ahead and get her a hardware / paper wallet and hold it for her. I'd only suggest this cause I doubt she's going to know what to do with it / actually go ahead and use it anyway.
Bitcoin is a wonderful gift, though I don't think your niece is going to use it at all as of yet.
Bitcoin is a wonderful gift, though I don't think your niece is going to use it at all as of yet.
You could create a paper wallet for her while she learn how to to use bitcoin provided she has interest to learn now. The paper wallet work so well should could access her funds anytime and the how to is all over cryptocurrency or Bitcoin website!
I would suggest getting her a paper wallet if you want her to have bitcoin legally without any troubles or headaches. She will put it somewhere safe hopefully and when the time comes she will cash it out or keep saving it for future who knows. Wallets that are paper is the best way to gift someone because it literally can be stored anywhere you want without searching too far, just put it between some book pages and you are good to go.
I have done the same for couple of my friends back in the day and gave them small amounts just so they would be interested in it, when the price reached 20 thousand dollar levels they were still around 70 dollars or so in value, nothing major but they were really glad and happy to know they had some bitcoins at least and did not missed out. Some of them cashed it in and turned it into some other coins and of course bear market killed their profits but others just kept on checking the price for it and not using it.
I have done the same for couple of my friends back in the day and gave them small amounts just so they would be interested in it, when the price reached 20 thousand dollar levels they were still around 70 dollars or so in value, nothing major but they were really glad and happy to know they had some bitcoins at least and did not missed out. Some of them cashed it in and turned it into some other coins and of course bear market killed their profits but others just kept on checking the price for it and not using it.
I have given Bitcoin to my sister in the past, than I just gave her a paper, showing how much I have given her, and told her I will take care of keeping it safe. But you can also give an account name, and a prive key, no need for coinbase at all.
You have to wait for the age to be up to 18 so that you can give them as you open the account with coinbase. It has to follow the age of legality. All the other exchange sites like Luno .com also will demand the age to be 18 before you can open and operate account with them. Just hold the coin in her name and give out in five years time.
I am agree with the reply of other members that you should need to teach her first about bitcoin, and i think she only wants is to spend it online make sure you already tell that she need to be more careful transacting with online because there are many scammers specially right now the Christmas is near to come they will be active to scam more people to earn money.
I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
There is no harm in giving your niece bitcoin, but you need to let her understand what bitcoin is all about, the need to keep somethings secured, and how to at least manage herself in the space in the long run and if you cannot get all those done, with her not being able to make decisions on her own, or even understand what you are giving her, it is better you just simply keep the bitcoin for her until she is of age and she can understand what it is all about on her own easily.You may give her a hint or at least commit yourself to let her know what you are giving her, and probably push her to go learn some few things on her own to come ask you any question, and when you are confident enough that she can be her own bank conveniently, you can push it to her. She does not need a centralized exchange before she holds bitcoin.
Anyone in the world can have crypto, just use a wallet, you don't have to use 3rd party's such as coinbase.
Use an offline software wallet for example, like Electrum or Jaxx.
Use an offline software wallet for example, like Electrum or Jaxx.
I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
They can be familiar with crypto without giving them at the moment.
Ok let's say if ever that 13 year old does have an exchange account now, what's next on your teachings? How to send ? How to received?
You can done that by using a desktop or mobile wallet and it's way more better since you primarily hold your funds here. No need to undergo to an exchange wallet. But still if you really like to do it on exchanges then you can share your account at the moment or setup another account because in the first place you can do transactions on Coinbase even with no verification.
I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
We have other means you can get her started you don't have to wait till she clocks 18yrs before you can get her in besides we have some third party wallets around which is a pretty good start. All is just for you to look out on the best option and let it be the one you really recommend. And all the best with it all.
We are assuming that you are giving bitcoin to your niece to store for at least 5 years until her 18th birthday. In that case, a paper wallet, created in a secure fashion and stored safely is your best bet. If you do not have the knowledge or ability to create a paper wallet, then a hardware wallet is the next closest thing.
As mentioned, you can buy a Trezor or Ledger for less than $100. You would probably want to securely and safely store the seed for her until she is 18, but you can then safely gift her the actual wallet with however many bitcoin you want. If she loses it or breaks it, then no problem because you have the seed.
Signing up an exchange account in her name or gifting her your own account is awful security at best and probably illegal at worst.
As mentioned, you can buy a Trezor or Ledger for less than $100. You would probably want to securely and safely store the seed for her until she is 18, but you can then safely gift her the actual wallet with however many bitcoin you want. If she loses it or breaks it, then no problem because you have the seed.
Signing up an exchange account in her name or gifting her your own account is awful security at best and probably illegal at worst.
I want to give my niece some bitcoin, but she has to be 18 to have a Coinbase account. Is there a way for a 13-year-old to sign up somewhere for bitcoin, or is it strictly for over 18-year-old's? Good to get them familiar with this from a young age!
Owning bitcoins or cryptocurrencies doesn't really require any age nor any permissions from other people or legal tender, as long you do have the knowledge on how it worksthen you can own it anytime. Here are some good read ups about wallets. https://www.buybitcoinworldwide.com/wallets/. Don't make use of web-based wallets or any other wallet that doesn't give out your own private keys.
Most people make paper wallets wrong and this exposes the wallets to vulnerabilities even before they’re loaded and out of the printer- to make them correctly, you need to follow several precautions to ensure that they’re made securely. I feel This wiki post covers the topic relatively well if you still choose to go down the paper wallet route. A hardware wallet is also a good solution for securely storing coins, though they do cost anywhere from $80-100 in most places.
This. People always suggest using paper wallets because it's a good offline storage solution for bitcoin, not knowing that the process itself of creating the paper wallet in an unsecure manner can easily expose the private keys. Hardware wallets are easier to prepare for the casual non tech savvy bitcoin holder in my opinion.
Most people make paper wallets wrong and this exposes the wallets to vulnerabilities even before they’re loaded and out of the printer- to make them correctly, you need to follow several precautions to ensure that they’re made securely. I feel This wiki post covers the topic relatively well if you still choose to go down the paper wallet route. A hardware wallet is also a good solution for securely storing coins, though they do cost anywhere from $80-100 in most places.
I think if a 13-year-old does not need a bitcoin, but you need to create a separate account and keep it secret until your grandchildren grow up, give it as a work and all. What feelings for your grandson. That's the best thing I think of right now, and it's not really necessary for a young kid at the moment.
Jump to: