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Teach Your Kids About Saving Money With A Crypto Wallet Not A Piggy Bank

 


As a parent, you often face situations where you need to teach your kids something that will give them much-needed knowledge for the future. In days gone by, teaching kids about money and saving was always an important parental responsibility. Today, it's a little bit more complicated than that. 

If you are ready to have the money/saving conversations with your child, you first have to decide if that conversation is going to center on fiat currency as "money" or cryptocurrency as "Money." If your child is under the age of 10, you might want to consider the possibility that all digital currencies are going to take off in maybe the next five years.

Given this possibility, it seems to make sense to prepare your kids for both options. You can use the following information to guide you as you teach your kids about saving money with a crypto wallet. 


Teaching Your Kids About the World of Cryptocurrencies

Child-rearing experts, namely teachers, doctors, and psychologists, have always been proponents of teaching kids about money and saving as early as possible. You have to decide for yourself when the best time will be for your kids. When that time comes, you can benefit by understanding the innerworkings of cryptocurrencies yourself.

As for addressing the kids, you should start things off simply and let them naturally gain further knowledge as time and experience progress. At the start, you can certainly explain to them the concept of a crypto wallet. After all, it's just a digital savings account. Don't worry, most kids in today's economy are quite comfortable with the digital world in which we live. In a pinch, you can refer to it as a "digital piggybank."

After explaining the concept of a crypto wallet, you can begin having conversations about what goes into the wallet. Advice: Use Bitcoin for your conversations because of the popularity of the coin. Should you be teaching about coin valuations and volatility? Should you teach them about crypto exchanges? All of this depends on the age of your child or children. 

To gauge their ability to understand supply and demand, you should pay attention to what they are learning in school. By the age of 10 or 11, kids have some math skills and usually some knowledge about money and the economy. That might be the right time to hit them with the complicated nature of cryptocurrencies and their value.



Pigzbe: The Future of Cryptocurrency for KIds?

Founder Filippo Yacob has developed a crypto concept that stands as a possible crypto training mechanism for kids. The concept is a company called "Pigzbe." Pigzbe is promoting its cryptocurrency called "Wollo."

This fairly new crypto concept is very family-friendly and welcoming of children. Through the buying and saving of Wollo tokens, the Pigzbe platform sets out to teach children about money in the 21st century. 

To be clear, Wollo is real crypto with a real cap of 675 million Wollo tokens. It differs from the "bigger" coins because of much lower transaction fees. As a savings concept, kids can learn that as they buy Wollo with their "allowances," and save them, their savings will hopefully grow in line with an increase in Wollo's valuation.

 


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