Teaching Kids About Crypto: Binance's New App Causes a Stir

Overview

• Target Age Group: 6 to 17 years old
• Purpose: Teach children about cryptocurrency
• Linking: Connected to the parent's main Binance account
• Control: Parents manage spending and transfers

Key Features

• Parental Controls: Adults can enable features like Binance Earn
• Interest on Crypto: Kids can earn interest on holdings
• Restrictions: Some features may be limited based on local laws
• Custodial Account: Parent is the legal owner; child holds assets but needs permission for major decisions

Public Reaction

• Supportive Views:
• Introduces financial literacy early
• Prepares kids for digital assets
• Critical Views:
• Too early to expose kids to crypto
• Concerns about targeting children with crypto products
• Social Media Reactions:
• Some call it "crazy" to think about kids handling crypto
• Others joke about kids becoming big crypto sellers

Binance's Response

• No official statement yet
• No indication of changes based on feedback