With Heirloom Trust and Cryptocurrency, Your Child’s Financial Future Will Be Stronger
Have you ever looked at your child or grandchild and simply marveled at how much technology they are already able to use? Some of us remember the days of the typewriter and find working a computer to be complicated some days, yet we watch as kindergarteners whiz around on iPads and navigate the Internet like pros. What will life be like thirty years from now for these young children? There are those who believe that how we buy and sell goods will be different then. Cara Cusack, the inventor of the crypto wallet and founder of Heirloom Trust, is one of them. “I don’t know if paper money will be completely gone by then,” she allows. “Perhaps not. But we may be moving in that direction. We already have digital money, known as cryptocurrency. As our world becomes more digitized, it stands to reason that our reliance on cryptocurrency will grow. That’s why I created a way for parents and grandparents to invest in it on behalf of their younger family members. It seemed like a very wise, responsible way to create an impactful inheritance for them.”
Cara herself has benefitted from investing in cryptocurrency, and she wanted to do the same for her nine grandchildren. “It seemed like it would also be a fun way to teach them about investments, especially in such exciting technology. When I searched the market, however, there was nothing out there. There was a real need for something like a crypto wallet, so I got a provisional patent and started developing it.”
For those of you who think this sounds like a good idea but are privately wondering what on Earth cryptocurrency actually is, Cara is a good resource. As a software technical program manager, she often answers questions from her friends and peers about a technology that so many of us find mysterious. “Your questions are not the first I have heard,” she assures. “It’s tough to understand for a lot of people, so I created a useful primer that explains the answer to every question we have all had at some point. You can look at it and understand exactly what cryptocurrency is and how it works. Knowledge is power. When you understand digital currency, you’ll better understand how purchasing a crypto wallet from Heirloom Trust will benefit the younger people in your life.”
Cara explains that investing in one of Heirloom Trust’s crypto wallets is very simple. The purchaser will enter the recipient’s identifying information. No one can withdraw the funds until the intended recipients are of legal age to do so.
She states that the recipient will then be given two things. “The first is a physical wallet, which looks and feels just like a coin and is sent to the receiver in a keepsake display and giftbox. The physical wallet is imprinted with the logo of the cryptocurrency purchased and the deposit address.”
The recipient will also receive a software crypto wallet, which is designed to securely store different cryptocurrencies via the deposit address, which all members of a trustee’s family can deposit into until the recipient is old enough to access, transfer, or withdraw them. The wallet is a one-way purchase, meaning that the purchaser can only deposit into it. They cannot, for example, withdraw any of the money themselves, change their mind about the investment, or do any trading with it. Instead, the cryptocurrency is left to appreciate in value as the years pass, gaining more wealth for the recipient. As the recipient grows older, they are able to view the total amount of accumulated cryptocurrency and its present market value in any world currency by accessing the Heirloom Trust mobile app and website.
Cara has been asked a lot of questions about the security of the crypto wallets. “That’s definitely important, so you’ll feel reassured to know that the app backs up the physical wallet in case it is ever lost, stolen, or destroyed and needs to be reprinted. The hardware wallet is unhackable, as it is kept in a safety deposit box at financial institutions and is duplicated for disaster recovery. It means, for example, that if there is a natural disaster in one location and the hardware is lost, there is a backup at another financial institution in a different part of the United States. These contingencies ensure that the crypto funds are completely safe until the recipient turns eighteen, when they can withdraw them and transfer the funds to any account or exchange of their choosing.”
That time may still be some years away for the young family member you want to invest in. Today, as you watch as your grandchild or child easily moves from website to website or plays with that iPad, envision their future in thirty years. While it’s hard to imagine exactly what our world will look like, it is likely that it will include cryptocurrency on a much larger scale. Knowing that, giving them one of Heirloom Trust’s crypto wallets may very well be one of the best things you can do for them.
For more information on Heirloom Trust, including how cryptocurrency works and how you can invest in the company, please see www.heirloomtrust.com and https://www.indiegogo.com/projects/one-way-wallet-investment-gift-for-minor-children#/.