A Guide to Digital Currency for Parents

Cryptocurrencies are dependent on coding. Code pieces that are encrypted are the root technology for generating, purchasing, swapping, and trading digital or internet money such as the perfect money to bitcoin exchange. Each transaction is recorded and stored in an unrestricted ledger called a Blockchain. The Blockchain which is a system that is peer-to-peer. So it concurrently updates actions on all computers in that are part of the system. These technologies on encryption and blockchain protect this digital money from any attack like counterfeiting and hacking.

Finance is one of the many essential fields of education which has been slowly fusing with the digital world. Children, at an early age, must become aware and mindful of how credit cards work, the possibilities that may happen when doing online payments and the dangers of acquiring debt. But then again, children will have to become acquainted with the idea of money in digital form as well as the decentralized choice to the conventional and usual fiat currencies that we have been using for so long.

Parenting in the world of digital technology

These days, parenting faces new struggles which involve a new responsibility, enlightening your children about the digital world and everything that revolves around it including cryptocurrencies that possibly will become necessary and crucial for them as they come of age. Children would one way or another ask about these technologies and how they work. Here are entertaining ways to present cryptocurrency to your children.

Online Gaming. If your children are enthused by online gaming, then you can use this to introduce to them the idea of digital money. For instance, in the game World of Warcraft, players earn virtual gold coins to be able to obtain or purchase items for their virtual players. Games like Minecraft likewise allow players to earn digital money and utilize them in the actual world. Ask your children about their much-loved games and you’ll be amazed how quickly they’ll catch the idea of cryptocurrencies.

With these cryptocurrencies increasing in popularity and usage, there are scholastic resources that materialized to teach children about cryptocurrency. BitKidz is a book series that aims to inform and teach children on the subject of virtual money. Another resource is The Bitcoin Alphabet – For kids and Everyone Else. This book by Chris Bozak explains to both children and adults the fundamental concept of Bitcoin plus fun facts about the impending revolution in cryptocurrency.