While even some adults have trouble understanding bitcoin, you may be scratching your head looking for ways to explain it to your children. Don’t sweat it—let’s look at how some real-life Moms had the bitcoin talk with their kids.
1. Let your child manage their own money
By this, we don’t simply mean giving your kids money, but rather allowing them to explore the idea of saving, the concept of online wallets, and the advantages of bitcoin.
“I teach my daughter about money by giving her her own bank account and a piggy bank. Everytime I get my paycheck, I’d transfer a small amount of money to her savings account. When we go to the grocery store, I let her keep the change so she can save money in her piggy bank.
Regarding bitcoin, I simply explained that it is like the money in her piggy bank but inside her mobile phone. I also let her navigate my Paxful wallet account and explain to her some advantages of using bitcoin, including how much easier and more secure bitcoin is than money in the bank.” — Shainne, L3 Feedback Analyst
2. Associate bitcoin with what they know
Britta, our Senior People Operations Manager, has two boys that understand bitcoin as just another form of money (or more specifically, that bitcoin is Paxful!). Meanwhile, the children of Renata, our LATAM Marketing Consultant, think of toys when they hear about bitcoin.
“Whenever I asked my Mom to buy me toys when I was young, she’d always tell me that she had to work to make money in order to buy me something. Now that my 4-year-old son, Dante, knows that I work at a crypto company, he’d ask me if I can save bitcoin to buy him toys.
My 7-year-old daughter Teresa, on the other hand, seems to understand bitcoin a bit more and tells my mom that digital currency is what people use to buy and sell things without ‘touching.’ To my kids, bitcoin is this virtual money that I can use to buy them toys, which explains why Teresa asks me about how many BTC I’ve sold every day I come home from work!”
3. Turn to real-life resources
People say children learn when they experience things for themselves, so get ready to spend your money on online games and at restaurants that accept bitcoin. Here are some ideas and resources you can turn to:
- Take your kid to a store that accepts bitcoin to show them how this digital currency is used in everyday life. If it’s as easy as scanning a QR code, let them do it!
- Get ready for Sesame Street to teach your kids about coding and blockchain.
- Watch Billy’s Bitcoin cartoons on YouTube together.
- Introduce Minecraft to your kids where they can earn “bits” (small units of bitcoin) and spend them on in-game purchases for classes and additional gaming content.
- Let your kids watch you conduct a trade on Paxful. Then for your next trade, ask them to help you find a trustworthy vendor to trade with.
- Send your kid to a high school in France—bitcoin is officially part of the syllabus for economics and social sciences!
Cryptocurrency for kids is the future
Very soon, bitcoin may pervade every aspect of life, so prepare your children for a major change in the financial landscape. Try using games, TV shows, and other real-life examples mentioned above to introduce bitcoin to your children. 😉
How have you been teaching your kids about bitcoin? Let us know in the comments below!