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How about securing a Crypto Portfolio for your Kid(s)?

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Written by   104
2 months ago

If there is one thing I would love to do, it's to secure a bright future for my children financially. A future where they would not have to depend on salaries from employers of labour rather, they become employers themselves. A future where they have the right to their assets at all the time and do not have to wait for approval from any central Authority. No paper works, it will be 'you want to use it, you have it'.

ME

For me, my parents probably didn't have the idea of this kid's future planning thing. Maybe, that is the reason they had to struggle each year to be able to come up with my school fee and money for other essentials that I needed even up till date. But I'm a grown up now, and I have decided to take some responsibilities as regards to me from their hands. I can say that, I'm a lot more exposed than they were and I have the means to secure my own future now.

The Local Banks

Many parents are actually aware of this idea of securing their kid's future financially. They go through a lot just to make sure this becomes possible. This is where they do end up in the hands of the local banks and insurance companies. These banks and insurance companies make a furtune from people's heads.

The local banks are running long-term saving system for kids and they are actually getting a lot of patronage because people understand the effect of saving for the children's Education and other things from early age. There are children who have jobs and are earning income, some get allowance and receive cash gifts very often, this category of kids obviously deserve a savings account without much dragging of feet. As it would be even more useful to them in the future.

Some of the disadvantages people get with this local banks include;

1. lack of access to the funds at the desired time and excessive paper works which is obviously a denial of financial freedom

2. Low interest rate. The banks collect the money and give it out for loans or use it for other businesses which usually is the cause of the delay in accessing the funds but, the actual owners of this funds get little or no interest.

3. High bank Charges. These banks charge a lot of money for keeping your money which they freely trade with.

Lost Opportunity

Imagine that you had a child of 8 years old back then in January 2011 and you had this idea of securing a Bitcoin wallet for him or her. Then, you went ahead to buy bitcoin into that wallet with the extra money you would love to save in the bank for your child's future, be it for education or any other purpose. Maybe you were able to accumulate about 5 bitcoin when it was 1 dollar per Bitcoin. The price increased but you didn't want to sell it because it was for your child's future. Then you kept up the trend of buying Bitcoin with the extra money till your child became 18 years (which is January 2021) old and then you feel that he or she is old enough to take care of his/her financial affairs now then you hand over this wallet to your child. Then your child opens it and boom! He or she finds 9 Bitcoin there in the wallet.

Considering the current price of one Bitcoin, you would have made a life for your kid with something you considered as an extra money then. You would have succeeded in securing for your kid the financial freedom which was your actual aim. There would be no bank in this whole world that will be able to pay you such high amount of interest for your savings.

Many of us missed that opportunity. As at 2011, I was already getting income from side hustles after school hours. But the opportunity passed me by because I was not informed. I wasn't aware that anything actually existed like Bitcoin. There are others who missed thesame opportunity not because they were not aware but, because they were full of doubts and they never believed in the future of Crypto. I would have doubted also. But good thing, our eyes are opened now.

The Opportunity at hand

I don't have kids yet but when I do, I will definitely secure Crypto Portfolios for them and develop it no matter the price at that time because I believe, that cryptocurrency price will keep increasing as the world becomes more informed about and shift attention towards Digital currencies. I will not allow them to miss thesame opportunity that I missed. I have already started to build a portfolio for myself and I'm currently making my way to 1BCH (my goal for 2021)

Why Crypto?

The more reason you should choose crypto for your children's future is the decentralization. There is no central Authority controlling it and you can withdraw or use your funds just any time you like. Which denotes financial freedom.

It's also the best because making savings for a child's future is just like a long-term investment which is where you get the best return from crypto.

Personal Recommendations

When to buy?

You don't have to buy much at once, just buy little by little and before you realize it, you would have accumulated much.

Buy more when you feel the price is low.

Crypto to invest in?

If you want to choose the Crypto to invest in now for the future of your kid(s), it's good you choose the ones you see potentials in and it's also best for you to diversify their portfolio. I personally will recommend that you include Bitcoincash. Because I so much believe in it's future. I'm not saying this from an expert's point of view but when many more people will get to find out about the advantages of bitcoincash (as a peer-peer electronCash) Which includes the speed of transaction, the almost unnoticeable Transaction fee and the huge backups, many more will become interested and the price will explode. Which is the best for your children's future.

Exchange to buy from?

There are many exchanges you can buy crypto of your choice from but I personally use Binance and Luno

You can buy bitcoin and bitcoincash from buy.bitcom.com

Wallet to choose?

Choose a wallet that you believe is safe. An exchange should not be used for long-term holding. I'm also recommending Bitcoin.com wallet. I'm using it for my BCH and I believe in it's safety.

Thanks for reading and go secure a future for yourself and your kid(s).

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Written by   104
2 months ago
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Comments

It's an amazing idea to save our experience for the coming generations. I saw your task at lazyfox.io yesterday and your post is too thoughtful. I too saving my familiarity for coming ones. As I believe crypto is future.

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2 months ago

I'm happy that u like the post and I'm also happy with the outcome it got. Crypto is definitely a good way to secure our future.

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2 months ago