Teaching Kids About Crypto: Binance's New App Causes a Stir

Binance has introduced a new app called Binance Junior. It is designed for kids aged 6 to 17. Parents can use it to teach their children about cryptocurrency. The app is linked to the parent's main Binance account. This allows adults to control how much money their kids can spend or transfer. The app also lets parents enable features like Binance Earn. This is a product that offers interest on crypto holdings. However, not all features are available everywhere. Some may be restricted based on local laws. The idea behind Binance Junior is to help kids learn about money and investing. It works like a traditional custodial account. The parent is the legal owner. The child can hold assets but cannot make big decisions without permission. The reaction to this new app has been mixed. Some people think it's a great way to introduce kids to financial literacy. Others worry that it's too early to expose children to crypto. Some even think it's irresponsible to target kids with crypto products. One person on X (formerly Twitter) said it's crazy to think about kids handling crypto. Another joked that kids might become the next big sellers of crypto. But not everyone is against the idea. Some believe it's important to teach the next generation about digital assets. Binance has not responded to requests for more information. So, we don't know if they plan to make any changes based on the feedback.