Some advice - A set and forget BTC wallet for my kids
Hi all,
Can someone give me an advice how to setup 2 BTC wallets or addresses for my kids.
Blockchain and Crypto is the future
I want to save some BTC for them and ultimately hope to have 1 BTC each for them. Then HODL and give it to them when they are 18 years old.
My daughter @creatisa is 12 and started on Steemit 4 days ago. My son is 10. I strongly believe that BTC will be maybe 1 million in 10 years.. Imagine that I am able to save 1 BTC for them. With that 1 BTC they can buy a house in the future and they are not depending on banks and paying a mortgage every month..
So anyone has a good advice to create this BTC adresses which is future proof?
Thx
Ron
Hey @rival - I have an advice for you. Before you print paperwalltes, try the "Opendime". Its like a piggy bank only for BTC. I bought one for my brother and put some BTC on it.
You can read about it here in my post: http://steem.link/46c8B
It's really easy to set up and it looks nice. And you've got something in your hand ;)
Thank you.. i Will have a detailed look at it.. did not know About the paper wallet either. Just need an adres were i Can send small amounts of btc in the next years. I put the wallet in a safe with a backup somewhere else. Dont want to touch it for a long time..
You bought Some btc for your brother. He must be happy with it. I hope to reach 1 btc but that would be almost impossible if btc keeps rising.
Btw, here you go: https://bitcoinpaperwallet.com/
Click on generate key, move your mouse, save the pair of Keys (or better: print them)
Make a transaction to the Public key.
For a simple address just search in Google for "bitcoin paper wallet generator" - there you get your private and public key - the public key is the address you send the Bitcoins to. With The private key you can access everything related to your public key and make transactions. Both Keys printed on paper are called Paper Wallet.
Thx for the info.. check it out.. but when fees to move small are expensive i have to see if this works out..
Hey, so as has been mentioned before, paper wallets are an option. But I'd be careful about trying to save up by transferring small amounts into them at a time - transaction fees are super high and if you're making multiple deposits you could end up paying hundreds of dollars worth just to move the money around.
If you are going to store as much as 1 BTC a hardware wallet like the ledger nano might be a good idea, and you can write down instructions of how to set it up.
In terms of transaction fees... I dunno, maybe gift them BCH or litecoin instead? Moving bitcoin around is super pricey.
Yeah, the fees are awkward. But the Lighning Network is comming. My advise: Store small ammounts on your exchange until you have collected a larger amount. Then transfer the whole ammount into a paper wallet. Maybe the market has calmed down so far and the fees have dropped
This is a good way around it!
Yes i think so..crypto currency is life changing opportunity ever. Bitcoin will cross 50k$ till mid of 2018
your post is very interesting.
but I want to ask you, how do you think about the development of 2018 bitcoin price in the future?
I just want to survey some people