Developing Good Saving Habits with Digital Currency for Children

Executive Brief

Many of us remember a time when doing simple chores was enough to earn a weekly income. It wasn't much and it usually came in the form of an "allowance," but it taught us the value of a dollar, and prepared us for life's remaining financial challenges.

Now, things have become more expensive. Items comes with hefty price tags attached, and $5 a week simply isn't going to help our children get what they want in due time. In an era when the bitcoin wallet is replacing the piggy bank, digital currency exists to help solve that problem through its potential to grow in value. Plans such as CRISP for Kids make it easy for children and their families to save for what lies ahead, and the lessons of being financially sound, although taught in a different capacity, are just as strong as ever.

Read the full story below. 

For many of us, there was a time when earning money involved trivial tasks such as washing dishes, taking out garbage or walking the dog. When our chores ceased, we’d then wait with anticipation, palms spread out as mom and dad offered us our weekly allowance to cover the days ahead.

It was a joyous time that taught us the value of a dollar. Those of us who went out and spent all the money on the latest kiddie toy eventually learned there wasn’t anything left once the transaction took place, and maybe saving a bit here and there wasn’t such a bad idea. Of course, times have changed drastically since then. Nowadays, instead of action figures and trading cards, kids are looking to buy the new I-Pad or smartphone. Suddenly, earning that simple $5 a week doesn’t seem like much and it’s taking more time to accrue the funds for what we want.

Things also aren’t stopping there. When our kids grow older, smartphones and I-Pads will seem like small expenditures when compared to the hefty price tags that come with automobiles, college funds and the rest of life’s major necessities. This is where the lesson of saving money ten years earlier really comes in handy. When larger items are needed, we walk in prepared.

With fiat currency holding less and less ground, the popularity behind digital currency is increasing heavily. The bitcoin wallet is replacing the piggy bank, and regardless of what men like Jamie Dimon, the CEO of JPMorgan Bank, have to say about bitcoin, cryptocurrency is leading us to a period of innovation we just can’t ignore with many arguing that digital currency is the money of the future... With that in mind, it’s important to make sure our kids know about it, understand it, and above all, trust it. Much like an allowance and the notion of saving continue to help children prepare for the future, digital currency can do the same with one added benefit… Digital currency can grow in value over time.

We’ve been hit with a heavy dose of this in the last few weeks. After a dismal period of heavy fluctuation, bitcoin rose quickly in early November, unexpectedly surpassing the $400 mark. It has now hit a plateau and is hovering in the high 300s. Despite a premature end to what we thought could have been a hefty rise, bitcoin users can’t help but feel a little happy about the money they’ve made.

Virtual coins should not simply be limited to adults and business owners. Why shouldn’t children be exposed to the glories of digital currency and the value it can produce? Consider this scenario… One places $20 into a savings account for their child’s college fund every month. In the end, all they have is how much they put in. Now, there’s the other scenario, one which involves depositing virtual currency and experiencing potential growth. Who knows? Left to grow, these early deposits may have increased enough in value that when your child is ready to attend graduate school, they could do so without taking on debt.

Programs such as CRISP (Cryptocurrency Investment Savings Plan) for Kids make things like this easy for children and their families. Created by a member of (which was in turn developed by DNotes), the CRISP plan offers our youth the chance to start saving early for their futures. Registration for the program is relatively simple, which includes generating official DNotes wallet addresses and setting up accounts for the children in question with usernames and passwords. Additional information, such as birthdates and nicknames, is all that’s left to make sure your children start receiving DNotes financial prizes.

It’s never too early to start saving for your kids. More importantly, it’s never too early to start teaching your kids about the art of saving.

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Nick Marinoff

Nick Marinoff is a freelance author, writer and journalist. His first book, "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" is now available on He is currently a lead content writer and news editor for Money & Tech, and is a regular contributor to both NewsBTC and Other publications include Black Impact Magazine, and The Loan Gurus, to name a few. He is a proud graduate of FHSU in Hays, KS.

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