Best way to give my daughter Bitcoin when she turns 18 \ stacker news ~bitcoin

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Best way to give my daughter Bitcoin when she turns 18

568 sats \ 27 comments \ @SNisgay 18 Nov bitcoin

I've been holding Bitcoin for the last few years, to give to my daughter when she turns 18. It's from part of her allowance that she opted to be paid in Bitcoin. Now that her 18th birthday is rapidly approaching, I'm wondering what's the best way for her to receive it. She doesn't have a cell phone yet, but she does have her own laptop. I was planning on buying her a Cold Card for her 18th birthday, and sending her Bitcoin to it. What do you think is the best way to give my daughter her Bitcoin when she turns 18?

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245 sats \ 1 reply \ @0xbitcoiner 18 Nov

seedphrase on metal/paper/etc

0 sats \ 0 replies \ @fm 18 Nov

Seed on metal without a signer is just asking for a hot wallet.. better give her the signer that will surely pant an seed in her mind 😅

53 sats \ 2 replies \ @fm 18 Nov

Cold card seam a nice option to introduce her to cold storage and what that means. Better than a hot wallet for sure

11 sats \ 1 reply \ @SNisgay OP 18 Nov

I figure once she gets a job, she can get a bank account and then get a Coinbase or Strike account so she can buy/sell Bitcoin.

11 sats \ 0 replies \ @fm 18 Nov

Sounds like a plan.. Im far to this as my kids are young, but ill get there.

26 sats \ 5 replies \ @OT 18 Nov

I think she will need to take a test first. She'll need to be able to answer basic questions about Bitcoin like the supply, difficulty adjustment.

I'd start by giving her a small amount and get her to to try out cold storage and some lightning too.

If it looks like she has a good understanding, give her the rest.

0 sats \ 4 replies \ @SNisgay OP 18 Nov

I've been in Bitcoin since 2017 and I still don't understand Lightning.

222 sats \ 0 replies \ @DarthCoin 19 Nov

you lived under a rock all these years or what? or you just did shitcoining on Coinbase?

11 sats \ 2 replies \ @OT 18 Nov

I mean, you don't need to know the technical details. Without LN how are you going to spend your bitcoin? Or is it just to convert back to fiat after long periods of time?

0 sats \ 1 reply \ @SNisgay OP 18 Nov

So far I've just been sending it back to Coinbase when I need to sell some. Haven't bought anything directly with Bitcoin yet.

125 sats \ 0 replies \ @DarthCoin 19 Nov

FFS why do you still use Conbase? Conbase is the enemy of Bitcoin. read here: #78930

when I need to sell some

yeah, loser, give your sats to Saylor.

100 sats \ 0 replies \ @plebpoet 19 Nov

so nice, love how you're thinking of her, DJ Guy

88 sats \ 2 replies \ @zapsammy 18 Nov

if u desire a standard hardware signing device, blockstream Jade is a simple and affordable device. it can be paired with blockstream green wallet app which has lightning channel capability. the hardware works over blutooth, partial-signing transaction via QR & camera, or USB connection.

there are plenty of other cold-storage solutions. time studying them, cost, features, security, are all trade-offs.

super basic and cheapest option here: https://darth-coin.github.io/wallets/tails-hodl-cold-wallet-en.html

blockstream green guide here: https://darth-coin.github.io/wallets/getting-started-greenwallet-en.html

Tutorial for Jade: https://youtu.be/XVKsaPCe260?feature=shared

u can tell ur daughter to go on https://darth-coin.github.io and start reading the beginner guides in the meantime. teenagers will pick this up quickly, and then summarize it for u. those guides are dense.

0 sats \ 0 replies \ @bren 18 Nov

Great references and suggestions, thanks.

0 sats \ 0 replies \ @SNisgay OP 18 Nov

I've been using a Ledger device, and I find it very simple and easy to use. However, I've heard that Ledger is now saying that if the government requests it, they will provide back door access to anyone's device. I have looked into ColdCard, but it seems a little complicated to me. I will check out your suggestions. Thank you.

22 sats \ 0 replies \ @Jon_Hodl 19 Nov

Seed Phrase stamped into steel with a passphrase that only you and her could possibly know.

I personally recommend using the PunchPlate if you're based in the US.

ColdCard or SeedSigner for signing txs.

22 sats \ 0 replies \ @cleaningup12 18 Nov

I put some in trust wallet as a starter for my boy

11 sats \ 1 reply \ @cryotosensei 19 Nov

I’m amazed at how your daughter doesn’t own a mobile phone yet. In my country, children who are just 9-10 years old get their own phone. I think it’s way too early but it seems futile to resist the tide

0 sats \ 0 replies \ @SNisgay OP 19 Nov

A lot of young children have cell phones here in the US too. My daughter has been home schooled her whole life, and I've been teaching her about the dangers of cell phones. She sees other kids her age and younger staring into their phones all the time, and she knows she's better off not having one.

11 sats \ 0 replies \ @Shugard 19 Nov

I'm in the same park as most of the others here. Give her a cold storage. But I would time lock it for at least 3 months. Let her know that she already physically has the hard wallet in her hand, that she owns the coins. But give her forced time to think about the value. 3 months seems about right. Frustrating enough to study it a bit, but not long enough to hate you.

11 sats \ 0 replies \ @Turdinthepunchbowl 18 Nov

Alby hub just introduced sub accounts. If she's not ready for self custody/self hosting, you can maybe set up something like that which allows her access until she expresses interest in learning self custody. At which point you can then just go through the set up process of a cold wallet and do an on chain transaction. This requires some knowledge of lightning, but it allows her access to the fund while allowing you to make sure its secure until she's ready.

I haven't tried a sub account as I don't have the need to, but I found it an interesting possibility.

https://blog.getalby.com/introducing-subaccounts-in-alby-hub/

11 sats \ 1 reply \ @senf 18 Nov

If you have a ColdCard you can use a BIP85 seed to start putting sats in now. Set hers up with it when you give her one, and tell her you have a backup (and of course to never enter it anywhere else). Encourage her to make her own when she's ready.

0 sats \ 0 replies \ @SNisgay OP 18 Nov

Thanks for the advice. I don't have a ColdCard yet, still using Ledger. But I plan on getting a ColdCard soon.

11 sats \ 0 replies \ @Msd0457890 18 Nov

I think it's great that you've included your daughter with Bitcoin, you'll certainly be giving her one of the best gifts in the world.

1 sat \ 1 reply \ @Winitober 19 Nov

18 year olds are prone to making poor choices. Place a 10 year time lock on the gift.

1 sat \ 0 replies \ @SNisgay OP 19 Nov

Thanks for the advice. It's her money that she's been saving already for the past 7 years. If she makes a poor choice she'll learn from it.

22 sats \ 0 replies \ @953290312e 19 Nov

A cold card would be the best way to gifted her , rap it in a gift box, she will be so... surprised!