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So I want to start paying my 12 yr old in SATs as an allowance. I'm so tired of giving him Fiat Trash money..

question #asknostr : What wallet should I get him (I'll have complete access to it)

I'm wondering if I should use it as a saving wallet or a lightning wallet .... 🤔

dunno yet, my wife has responded positive to this as well so any help will do .

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#Bitcoin #ember #DCA #dca #hodl #HODL #sats #stacksats #soundmoney #corruptfed #stayhumble #btc #emberapp #Btc #zaps #zap #coffee #powerlaw #asknostr

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Discussion

Logen Kain 1y ago

Tough call, how does the kid feel?

BTC-BACKPACKER 1y ago

I think he would like to transact with it ...ie coffee shop type stuff but also heavy into saving it... he has 1000 he saved up from walking dogs .

XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 1y ago

You can hook them up with a lightning wallet from nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm or any other lightning wallet

Alby 1y ago

You can give him a subaccount with separated balance to your Alby wallet!

db 1y ago

I’d lean towards a lightning wallet. A bunch of small onchain transactions would result in a bunch of utxo’s and could end up being not worth the fees in the future.

BTC-BACKPACKER 1y ago

So a lighting would be good.... any suggestions for savings ? do they have wallets with lighting and something he can hold long term ?

db 1y ago

There are others with more knowledge about this but that being said, id say a lightning wallet at first until enough has been accumulated to justify a nice signing device like a foundation passport, coldcard or seed signer. The lightning wallet rabbit hole is deep. (Custodial vs noncustodial, kyc vs nonkyc, etc) dive in with your kid and learn together.

BTC-BACKPACKER 1y ago

I think the biggest issue I'm having is how to onboard the lighting wallet , I don't want to use my bank account.... thoughts ?

db 1y ago

Ultimately you need to fund your lightning wallet with bitcoin, acquired by mining, purchasing with fiat or earning. You gotta have some bitcoin if you’re gonna pay out those allowances.

Alex 1y ago

https://www.lightningpiggy.com/

dankey 1y ago

First LN, and when balance grows enough help him build a nostr:nprofile1qqs09jtvjlmyrxjn37zv70a89csegcz7rpyqjmnw29cveedhv7vagqqpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtc64y2dk, swap to onchain and send to cold storage.

techjunkie 1y ago

Definitely nostr:npub1ajlrwgfj4yerhqf7ady03h7wmtk2qr3gs7h3sxcx83k05yld36sswpzx3q is a good start, has LN and can be used as savings wallet.

Joe 1y ago

I would start him off with Aqua. Then have learn about hot wallets vs cold wallets as he shows more interest (which will happen as his stack grows).