I have a Bitcoin investment that’s in cold storage on a hardware wallet, but I don’t really know anything about exchanges. A friend asked me for assistance, she wants to buy a small amount, to hold long-term for her kids’ futures ($100 each, for two kids) just on the hope that it may appreciate into a nice nest-egg after a couple decades.
It’s such a small amount that it’s not worth purchasing a hardware wallet, so where does she hold it? Is there a trustworthy exchange to use?
Also, the kids are minors, so is it possible to make each of them accounts, or should it be in her name until such time that she decides to transfer it to them one day?
I don’t see the correct answer here so I thought I’d chime in.
This is the right answer frog. Yes, she can store the Bitcoin on a piece of paper. There are many wallets that can do it, just find out what operating system she's on, she can use Exodus wallet on just about any platform, that is what I would recommend.
Paper wallet is the way. Bump this thread so OP does it free and right!
Exactly this, I would only add that one should document how to access the coins in detail. If the idea is to pass along wealth to another generation, those folks may need a step-by-step to access it.
This is an excellent point!
Sounds like a Johnny Mnumonic plot line. Another prescient movie by Keanu Reeves.