Giving Bitcoin as a gift - page 2. | Bitcointalksearch.org

eaglewhite80

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Quote from: befriendmywater on November 05, 2018, 11:17:33 PM

Quote from: Drysprinkles291 on November 05, 2018, 07:39:02 PM

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!

You can create a wallet for your niece. We do not need to send bitcoin to the coinbase, there are many different bitcoins. Or you can send it to Binance trading platform and give your account to your niece. When your niece wants to sell it, it will be faster instead of transferring the bitcoin from the coinbase to the trading platform. Grin

Seriously? What is the difference between a Coinbase account and a Binance account in the aspect of a centralized wallet? It seems a lot of people do not even have an idea what makes some wallet centralized and some decentralized. As long as you are making use of an exchange, there is no way you can have full control of what you are holding. Make sure you are making use of a wallet where you have your private keys.

Secondly, what the OP will need to do is to even understand everything about the space first as well as the security of the space, a lot about wallets, and a lot about blockchain before even pushing out bitcoin to a 13 year old kid to hold. In a way, she has to understand what she is holding as well as everything that pertains it for her to at least be able to do well in the space without messing things up.

mk4

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Quote from: befriendmywater on November 05, 2018, 11:17:33 PM

Quote from: Drysprinkles291 on November 05, 2018, 07:39:02 PM

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!

You can create a wallet for your niece. We do not need to send bitcoin to the coinbase, there are many different bitcoins. Or you can send it to Binance trading platform and give your account to your niece. When your niece wants to sell it, it will be faster instead of transferring the bitcoin from the coinbase to the trading platform. Grin

This is not a good suggestion at all. You just pretty much suggested a different exchange. It looks like you also need some research and reading to do.

Also, "there are many different bitcoins"?

Quote from: aervin11 on November 05, 2018, 11:58:58 PM

Having a paper wallet is pretty secure, bad thing about it is that it's a paper and getting wet or being torn is it's disadvantages and in order for her to withdraw the funds in the future,

Having a paper wallet is only secure when it was actually made in a secure manner.

aervin11

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Quote from: Drysprinkles291 on November 05, 2018, 07:39:02 PM

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!

You are aware that storing your cryptocurrencies on exchanges is a bad thing to do right?

Cryptocurrencies are for all ages. Only exchanges want you to be on a legal age because they are centralized and that is not what cryptocurrencies are built for.

I suggest that you gift her a paper wallet (Check this link for reference : https://www.coindesk.com/information/paper-wallet-tutorial/)
Having a paper wallet is pretty secure, bad thing about it is that it's a paper and getting wet or being torn is it's disadvantages and in order for her to withdraw the funds in the future, she needs to know how to transfer and being a kid herself, doing those things might interest her curiosity and eventually she'll do the research and might find it fun which is a good thing. I think giving her cryptocurrency is teaching her about responsibility.

Karr98

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I think first you must do is you can teach your niece about what is bitcoin and how you can do with it maybe invesment or trading. And after that you can help to make some of bitcoin wallet that easy to you and i agree with

Quote from: mk4 on November 05, 2018, 11:13:33 PM

~snip~

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/

you can read that thread and choose what is better wallet for your niece don't keep bitcoin at exchanger maybe it not safe and i prefer to use electrum wallet.

befriendmywater

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Quote from: Drysprinkles291 on November 05, 2018, 07:39:02 PM

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!

You can create a wallet for your niece. We do not need to send bitcoin to the coinbase, there are many different bitcoins. Or you can send it to Binance trading platform and give your account to your niece. When your niece wants to sell it, it will be faster instead of transferring the bitcoin from the coinbase to the trading platform. Grin

mk4

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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:

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/

figmentofmyass

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Quote from: Drysprinkles291 on November 05, 2018, 07:39:02 PM

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!

you should get her started right with a real bitcoin wallet---no 3rd party services! after all, bitcoin was designed to eliminate trusted intermediaries like coinbase. they could get hacked and become insolvent, or they could freeze your/her money.

teach her to be her own bank instead!

here's a list of recommended wallets: https://bitcoin.org/en/choose-your-wallet

i use both bitcoin core and electrum for different purposes. for beginners, i highly recommend electrum. it's very easy to use and intuitive.

Drysprinkles291

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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!

Topic: Giving Bitcoin as a gift - page 2. (Read 323 times)