Should I invest in crypto for my kids?
Forget pocket money. Give your kids a crypto allowance and watch your investment (and their future) grow.
What’s the best financial advice to give to your children? Start early.
Building wealth isn’t easy. It takes patience and commitment. It also takes time — thankfully this is something kids have in abundance.
Financial planning for your kids doesn’t have to begin and end with RESPs and savings accounts. While your investment approach should be to diversify, diversify, diversify, make sure to include a little cryptocurrency in your plan.
It doesn’t have to be complicated. Spend less on toys and other things that will end up in the landfill and try a different kind of birthday gift this year: cryptocurrency.
Bitcoin, in particular, has been the best performing asset class of the last decade. If you had invested $200 in allowance money in Bitcoin in 2019, your investment would be worth more than $800 today.
It’s a similar story with other cryptocurrencies. If you had invested $150 from your daughter’s seventh birthday into Ethereum in 2018, your investment would be worth $1,000 today. If you had invested $400 in Dogecoin at the end of 2020, which your 10-year-old son earned from delivering newspapers, your investment would be worth nearly $13,000 today. Imagine that? A small investment of $400 covering two full years of university tuition and setting your child (and your family, for that matter) on a path to a debt-free future?
The added bonus of all of this? The lesson it teaches your kids. A lesson about financial literacy but also about life itself. It’s important to live in the moment — toys are fun and candy is tasty — but a little hard work today, whether it’s planting a tree or buying Bitcoin, can exponentially improve your life in the future.
How to invest in cryptocurrency for your child
While you can’t open a custodial account for your child, you can create your own personal account with Hubkoin.com and start investing for their future today.
Hubkoin is not like other cryptocurrency exchanges. That’s by design. Hubkoin, which is proudly Canadian, focuses on both trading and education and strives to offer the best possible service with the lowest possible fees.
“We want to get (moms and dads investing) and not price them out,” says Robert Watterson, the company’s managing director.