Cryptocurrency has taken the financial system by storm, becoming one of the most sought-after types of investment. But is this only for adults, or can it be taught among children, too?
Strive Fintech introduced the first crypto-focused app for parents and children on the market, promoting thus education on virtual currency among the little ones. The global financial company aimed to continue its long-term objective of informing about responsible money habits and investments. Still, this time, it focused on a digital piggy bank – Penny the Pig. And it’s only normal to be so since technology has reached such a level nowadays that it’s present in almost any aspect of our lives. The interactive piggy bank represents a huge advantage for parents, who can now set rewards and goals for their little ones and see the accumulation of money over the years. It’s encouraging that initiatives have been taken on this matter, and kids are finally introduced to the world of cryptocurrency. Strive’s app intends to teach children how to buy Bitcoin and how to use cryptocurrency wisely, as well as the overall importance of finances in their lives.
Intrigued by Penny the Pig? Let’s delve deeper into the topic and discover another similar app that was later released.
The essence of Strive app
Some people might welcome the launch of such an app, while others might doubt it. That’s why we’ll detail it, so everyone understands the significance of a child-friendly cryptocurrency-focused financial application.
Strive’s platform shows the insides of a kid’s crypto wallet to their parents. The cryptocurrency wallet balance on the piggy bank is displayed so that parents can use the information for the good of their children. Some of the app’s main strengths include letting parents set rewards and objectives for their kids, schedule payments in cryptocurrency, including pocket money, and track their children’s electronic transactions. As for the security factor, the digital piggy bank benefits from 256-bit encryption, a top-notch encryption method used in modern technologies, protocols, and algorithms. So, users’ data are kept safe and sound from any cyber threat.
Strive co-founder and CEO Andrew Birt declared in 2021 that it’s our very role to educate young generations on healthy financial habits and encourage responsible investing among them. Since many people are already exploring crypto’s potential, there’s no doubt that this form of money will dominate the financial landscape sooner or later. Birt opined that virtual currency is here to stay, and Penny the Pig is here to provide parents and children with a reliable, safe, and simple manner to adventure into the realm of cryptocurrencies. He also points out an unexpectedly evident lack of resources to teach children about virtual currency, despite the $2T stored in digital currency across 68M cryptocurrency wallets worldwide. Andrew’s 7-year-old son, Toby, is already making the most of the app, preferring Bitcoin to cash and demanding BTC as a reward for fulfilling his tasks.
But Strives lures people not only with piggy banks but also a suite of products, including collectible physical toys, unique educational non-fungible tokens (NFTs), and limited-edition digital assets. A piggy bank mining edition is also on the horizon, and it’s developed to take Bitcoin mining – or that of other cryptos – to the next level.
Penny the Pig is ideal for kids five and above. The little ones can see their prizes, chores, and spending, and parents can better monitor their kids’ financial activity. Compared to the competition, Strive seems to have the upper hand.
Stack – a promising platform for teens and parents
CEO Will Rush named the Stack platform “the first crypto education and trading apps for teens and their parents,” There’s strong proof that it could be so. Stack was designed with the young generation in mind, the Gen Z cohort, to be more exact, a generation already witnessing the revolutionizing blockchain technology and very likely to own digital assets in one form or another. Therefore, education on this matter isn’t to be delayed anymore.
Stack was born in 2021 with the help of two notable professionals – CCO Angela Mascarenas and CTO Natalie Young. The founding team has hard-to-deny expertise in Fintech. The former helped the cookie ordering system for the Girl Scouts go digital, and the latter was a T-Mobile engineer. Rush also contributed to improving the teen app Copper, teaching kids about investing by adopting a crypto-oriented approach. He was concerned about the number of teens on Reddit who were trying to create crypto accounts using their parents’ data and having them frozen for being underage to own an account. Such happenings motivated Rush to take action and design an educational platform, a healthy ecosystem of information that seeks to help teenagers get into crypto and trade fruitfully – and legitimately. Some notable features of Stack include a healthy trading environment and the control benefits of a Uniform Transfers to Minors Act (UTMA). It’s also equipped with next-gen security, promising to protect users from cryptocurrency scams and fraud. One of the measures adopted in this sense is prohibiting off-platform transfers.
Rush plans to expand the platform’s offerings and open more doors of opportunity for teens all over the globe. Stack also intends to build even more convincing financial content, including Web 3.0, Metaverse, and NFTs. Young people interested in Fintech will be thrilled to discover compelling information on this platform.
Parents looking for ways to introduce their kids to crypto can give these two apps a try. Among the top benefits of doing so, we count the growth potential of virtual currency and the fact that it could become the future of finances. Today’s younger generation is constantly exposed to these assets, so they should learn the peculiarities of crypto from a young age. When they grow, it’ll be up to them if they decide to continue on this path or not.
Featured Photo by regularguy.eth on Unsplash