If you’ve been looking at any tech or finance-related news website, then you’ve likely heard that Bitcoin is once again surging in price. Cryptocurrencies can be incredibly volatile, but if one thing’s for sure, it’s that Bitcoin has steadily increased since its inception several years ago. Even though there have been countless headlines about Bitcoin dropping in value, it’s ultimately maintained its momentum and is still growing to this day.
But when it comes to speaking to your children about finances, is cryptocurrency one of the topics that you should bring up as well? Does it make sense to educate your children about such a niche financial topic?
Kids interested in tech will eventually come across cryptocurrencies
If your children are even remotely interested in computers and technology then there’s a good chance that they’re going to come across cryptocurrency in the future. If you have absolutely no idea where to buy Bitcoin or what it even is, then it might be a good idea to do a bit of reading so you can try and educate them when they learn about it. The problem with Bitcoin is that most people discover it because it’s being touted as a miracle investment opportunity for the future. The reality is that the value of Bitcoin fluctuates so much that it’s always going to be a gamble and there’s no telling what might happen in the future.
As such, you should take charge and try to understand the concept behind cryptocurrencies and what they represent. This ensures that you can educate your kids about it so they avoid any potential scams related to Bitcoin. This is especially important if your kids spend a lot of time on the internet and like to do their own research on things that interest them.
Cryptocurrencies are going to be more common in the near future
While cryptocurrencies like Bitcoin are always talked about online and in news articles, a lot of people don’t even understand what they’re used for. You don’t get physical coins like other currencies, so how exactly is it spent? Is it just an investment opportunity for rich people to gamble with?
The reality is that Bitcoin adoption is slow. We’ve been able to spend Bitcoin for a long time now, but it’s only a recent development that we’re able to spend it through payment processing solutions with the internet. These days, it’s entirely possible to spend your Bitcoin with ease and you can even withdraw money with Bitcoin ATMs around the world. It’s certainly growing in popularity!
The idea of raising financially-smart children is fantastic, but it’s important that you teach them every aspect about their finances and that’s starting to include cryptocurrency as well. Even if you don’t plan on teaching your kids about trading in the future, there’s always a chance that they might take an interest in cryptocurrencies or investment trading in the future. If so, then you might just have a future entrepreneur or investor in the family!