Hari Raya is just around the corner, and we at CoinHako wish all our Muslim friends from Singapore and Malaysia: Selamat Hari Raya!
Hari Raya is a time for reunion, for forgiveness, for family. It is the time of the year for a family to sit together and enjoy each other’s company. For children, it is also time to get duit Raya, or green packets from their elders.
Children look forward to getting the money and spending them on snacks, toys and games. Giving duit Raya is a way of showing care to your children.
But the best gift to your children is not your money, but teaching them how to manage their money.
3 things your child can learn from Bitcoin duit Raya
1. Teach them about security
More and more of our banking happens online today. Online banking will be the banking experience our children will all experience. Having good online security is essential to keeping your money safe. It’s best to teach children about online security early. Having small amounts of bitcoin at stake will teach your children that people will try to steal their account, unless they have a secure password and use safety features technologies such as 2-factor-authorization.
2. Teach them about saving and patience
Owning bitcoin allows your child to have complete control over their money, and complete control over the consequences.
Spending bitcoin online is easy, but it also makes saving money easy too. As compared to a children’s bank account, having funds in Bitcoin makes it easier to them to check it themselves and monitor how much money they have.
Bitcoin can teach children the value of patience and delayed gratification. Although Bitcoin prices can be very volatile, the overall trend of bitcoin prices has been going up. Over its short time horizon of a few years, Bitcoin has gained value when it was once worth nothing. It teaches children that saving money will deliver its results as long as they are patient.
3. Teach them kindness
Hari Raya Puasa is also a time for us to care and share. There are many charities that accept bitcoins for donation. Instead of spending the money on themselves, one of the ways to use bitcoin is to encourage your child to donate to charity. You can find a list of charities here.
Is your child too young to own bitcoin? Read here about how a 12 year old manages money in bitcoin.
Don’t know how much bitcoin to give to your children, nieces and nephews?
Go to coinhako.com to find Bitcoin prices!