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Phaedra Parks, known for her role in the “Real Housewives of Atlanta,” recently shared in an interview that she has given her son $150,000 to invest and educate himself on wealth accumulation. Her son, Ayden, aged 13, has shown significant interest in rental properties and has a keen fascination with cryptocurrency.

Cryptocurrency and Kids — Phaedra Parks, TV Personality, Shares Her Sons’ Passion for Making Money Through Cryptocurrency

Despite many digital asset exchanges disallowing minors from trading, parents can facilitate their children’s interest by setting up accounts for them. The younger generation’s participation in cryptocurrency investments is not unusual, with numerous instances of children venturing into the crypto world since Bitcoin’s inception.

Take Erik Finman, for example, who at 12 years old, received a $1,000 investment and became a millionaire by the time he turned 18, thanks to Bitcoin. A study by the teenage-focused neobanking platform Gohenry unveiled that over 1.33 million children in the U.K. have invested in cryptocurrency.

T. Rowe Price’s 14th annual Parents, Kids, and Money Survey from April 2022 reported that 57% of children aged 8-14 are acquainted with digital currencies. In an intriguing turn, children were found to be more knowledgeable about cryptocurrencies than their parents, as only 47% of parents professed awareness of this technology.

In a recent interview with People magazine, Phaedra Parks, the reality TV star from “Real Housewives of Atlanta,” disclosed that she had furnished her son Ayden with $150,000 to invest.

Parks, who comes from a middle-class background of educators, shared that her parents would have desired to provide such an opportunity, but their financial situation prevented them from giving such a large amount to a child. When talking about the investment, Parks highlighted her son’s curiosity in cryptocurrency assets.

During her interview, Parks commented, “Ayden is passionate about cryptocurrency and fervently investigates ways to become a millionaire before 25.” The reality star further revealed that both her sons “are enthusiastic about generating income via cryptocurrency.” Her younger son, Dylan, aged ten, also aspires to achieve “financial stability” in the future, Parks shared.

Numerous resources are available to guide parents on introducing their children to digital currencies, as children of all ages have welcomed decentralized cryptocurrency technology. Additionally, dedicated applications like Earlybird Crypto aid children in starting their cryptocurrency investment journey.

In November 2021, Earlybird raised $4 million from Seven Seven Six and Gemini, followed by another funding round on June 13, 2022, where the amount remains undisclosed. In Los Angeles, an annual event called Crypto Kids Camp takes place for children aged 5 to 7, where they are educated about cryptocurrencies and artificial intelligence (AI).

What are your views on parents fostering an interest in cryptocurrency investments among children from a young age? Do you consider it a valuable learning experience? Please express your thoughts and views on this topic in the comments section below.

Frequently Asked Questions (FAQs) about Phaedra Parks cryptocurrency investment

Who is Phaedra Parks?

Phaedra Parks is a cast member on the reality TV show “Real Housewives of Atlanta.”

What investment did Phaedra Parks make for her son?

Phaedra Parks gifted her 13-year-old son, Ayden, $150,000 to invest and learn about wealth accumulation, particularly through cryptocurrency and rental properties.

What interest does Ayden, Phaedra Parks’ son, have in cryptocurrency?

Ayden is deeply interested in cryptocurrency and is actively researching how to become a millionaire before he is 25. His interests also extend to rental properties.

Are children legally allowed to invest in cryptocurrency?

While many digital asset exchanges do not allow minors to trade, parents can set up accounts on their children’s behalf, facilitating their interest in cryptocurrency trading.

Are there resources available to introduce children to cryptocurrency?

Yes, there are numerous resources including guides, books, and dedicated applications like Earlybird Crypto that can help children start their journey into cryptocurrency investing. In addition, events like the annual Crypto Kids Camp in Los Angeles are designed to educate children about cryptocurrencies and artificial intelligence.

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5 comments

CryptoEnthusiast101 July 4, 2023 - 6:21 pm

wow! thats pretty cool! wish my mom gave me 150k to invest when I was 13 lol. go Ayden!

Reply
RealityTV_Fan July 4, 2023 - 8:18 pm

omg I love phaedra!! So cool to see her setting her kids up for success. bet Ayden will be a millionaire before we know it 😉

Reply
InvestorMom July 5, 2023 - 12:26 am

i’ve been teaching my kids about investing, not quite ready for crypto yet, but kudos to phaedra for empowering her son like this!

Reply
MoneyMaker88 July 5, 2023 - 7:43 am

Im not so sure about this… Cryptocurrency is risky business. Maybe better to teach kids about traditional investments first?

Reply
Tech_Guru July 5, 2023 - 2:35 pm

it’s great kids are learning about crypto, just hope they’re also being taught about the volatility. it’s not a guaranteed path to wealth.

Reply

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