Using Bitcoin to Teach Your Kids About Money

I recently attended a Cryptocurrency trading seminar where I picked up a couple of coupons for $10 worth of free Bitcoin. To receive the Bitcoin you need to sign up to a particular exchange that is also a trading platform. I offered one to a friend and he came up with a great idea. He is going to use the Bitcoin and the account to help teach his two elementary school aged children about money.

Children of that age receive minimal financial education at school, and the media targets them with messages encouraging constant consumption and to always desire more. Then there are the advertisements that are supposedly aimed at adults, but that kids take in nonetheless. Things like, gambling on sport is fun and rewarding, quick loans are an easy solution if you're short on cash and credit cards are a painless way to get what you want, when you want it.

This Bitcoin account, even with minimal funds, will provide an excellent experiential teaching tool for this dad, with many possibilities. He will be able to demonstrate and have his kids participate in saving, investing and trading. Through this they will learn about risk and reward, gains and losses, price fluctuations, exchange rates, analyzing charts, trading patterns and the differences between crypto and fiat currencies.

Maybe you could try something like this with your kids too.