0 sats \ 4 replies \ @relc 24 Oct 2021 \ on: Ask SN: What is the best way to gift Bitcoin to parents in their 60s? bitcoin
Paperwallet with copies or opendime.
I need to set them up end-to-end, so they would actually be able to spend if needed. If I just give them paperwallet, they will have no idea what to do with it. How would the experience look like with opendime?
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Opendime is like a paperwallet with usb port. You have to destroy it to spend or sell the opendime with the coins on it.
Your concern is always valid. When we gave away paper wallets or opendime we would alwas put two names of trusted people to contact in case of spend.
Handling pirvate keys is alwas a issue.
A Friend of mine bought 2 Bibles. He marked 12 random words in the bible. In the copy he did exactly the same. He told his parents. There is BTC in the Bible and the other Bible is a copy. Do not tell anyone. You need one Bible to spend. If you lose one Bible you have to contact one of your kids. If you want to spend contact one of your kids.
Bitcoin steel wallet also makes a nice present. Help to spend may always be needed.
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That makes sense, I think it really depends on what are the capabilities of the folks. In my situation they are able to control computers and mobile phones quite easily, but may be prone to phishing or social engineering attack.
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We gave away paperwallets for Xmas. Offline PC offline printer. After printing the wallets we laminated them and put 1g of gold inside on top. There was like the same ammount of gold as BTC on the thing at the times. We wanted a way to take the technical aspect away into a physical space. The fun thing we recognized is when you put 1g gold on a paperwallet people use to store it more secure and remember where they have it. Also they seem to understand more about the fact that a paperwallet should not be exposed to other people. We learned that everytime they got news about bitcoin or were to give their thaughts about bitcoin they did not have a nocoiner view of things.
For us we think it is to early to get them a lightning wallet on a mobile setup because they are used to fiat and it works for them for now.
The thing about electronical hardware wallets like ledger is we have very little experience on that because we think adding complexity to a secure and base system does not solve a thing. The rule of thumb was like is the person capable of setting up a operating system on a computer. If yes he can defend against key loss or scams himself. If not here is your paperwallet do not lose it. Good luck!
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