Heirloom Trust and Cryptocurrency: The Responsible Way to Invest in Your Child’s Future
Many of us (if we admit it) remember when the first personal computer came out. The one my family had was big, boxy, and a very unattractive greyish green color. It was so big, in fact, that it took up a good portion of the desk. It didn’t matter, however – my brothers and I were incredibly excited and spent hours playing Asteroids and PacMan. How the days have changed! Our personal computers are much smaller now, the games are infinitely more sophisticated, and we even have digital money. The inventions keep coming, leading our society in a more advanced direction. Cara Cusack, the founder of Heirloom Trust, has taken us all another step with her invention of the crypto wallet, which is revolutionizing how inheritance planning is done for our younger, tech-savvy family members.
At the heart of Heirloom Trust is cryptocurrency, digital money whose usage will grow as our engineers lead us into an increasingly digitized world. Cara is a big believer in the potential of cryptocurrency, and she did well when she invested in it. She then started thinking about the future of her own nine grandchildren and wondered if a cryptocurrency investment would benefit them, too. “I wanted something that they couldn’t touch until they were eighteen years old,” she says, “and that they could watch grow over the years. I also wanted it to be a lot of fun, not the boring CD that we often give our young family members. However, when I looked around for something like this, I couldn’t find anything. I decided to be the one who created it. I got a provisional patent for the crypto wallet and got started with developing it.”
I will stop here with this article and be the first to admit that the word “cryptocurrency” is confusing at best. Imagine my relief, then, when I found Cara’s primer. For all you sufferers out there who have wondered privately for months what cryptocurrency is, I can tell you that this is the resource you’ve been searching for.
Cara laughs goodnaturedly at my relief. “Your questions are not the first I have heard,” she assures. “It’s tough to understand for a lot of people. The primer 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 day may still be a long way off for you and your child or grandchild. As you think about whether or not investing in a crypto wallet with Heirloom Trust is the right investment for you, consider this: a $5 investment in cryptocurrency has the potential to grow into thousands of dollars or more. That makes it an excellent, responsible financial decision to make for the one you love.
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#/.