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My peers have started talking about purchasing cryptocurrency for their kids as a means of investment. Have other parents come across the use of cryptocurrency with kids under 12 and have any feedback?
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This is such a relevant question for the current, and future generations of investors. Getting kids, and their parents, to think about the best way to invest for their kid's future, and college expenses, can benefit from many different tools.
Digital currency and NFTs (Non-fungible tokens) are the current cool thing. This doesn't necessarily mean these forms of currency will be around in the future to offer a return on the initial investment, though But they do offer a good starting point for discussion about what forms of currency hold tangible, and secure, returns.
To consider a "pro" for these types of currencies, kids may be more interested in cryptocurrency and NFTs, versus stocks and bonds. They see people like Elon Musk, and other celebrities, posting on social media about Dogecoin, and for kids, they can see how a form of currency, other than the dollar bill in their pocket, can be exciting.
On the "con" side, these types of currencies lately have been very volatile, so the amount of risk is increased. This is a con for the type of currency, but still offers a good topic of discussion, to help kids understand the different, and ever-changing, types of monetary systems we now utilize. Sounds like a perfect homeschooling project. :-)