Non-custodial accounts for minors

I was wondering if it would be legally possible to open a Nash account for minors? For example, my mom wants to save in Bitcoin for the grandchildren until they turn 18. If this were legally possible then I think this could be a good Nash product with many possibilities.

If you’re just interested in saving, btw, you can simply use a hardware device like a Trezor or Ledger which allow you to set up multiple addresses and just use one of those addresses as a savings account. The seed key needs to be backed up of course.

At the moment, Nash only has one BTC address per customer. I don’t know what plans are for the future in that regard. Maybe Fabio or someone else can comment on that. I’m pretty sure that an account for someone under 18 is not possible at the present time. Maybe you should ask about this in the list of AMA questions.

She has a hardware wallet but it would be much easier to use Nash. Isn’t that one of the reasons we use Nash ourselves? :wink:

I have something in mind like an investing account for minors with, for example, Vanguard.

A possibility with Nash could be that it’s programmed that the funds are released to the minor when he or she becomes 18. In that case, there is no risk of losing the funds if my mother dies and the minor is sure to be able to use the funds from then on.

There may be a lot of creative things possible, but I was just wondering if it would ever be possible from a legal point of view.

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She has a hardware wallet but it would be much easier to use Nash. Isn’t that one of the reasons we use Nash ourselves? :wink:

Sure, I’m just saying as there is no solution available right now on Nash, that might be the best option. Nash offers trading and payments, as well as savings. But if you just want savings, then you can use the hardware wallet option, especially if it’s going to be saved until they are 18. It doesn’t require much logging on.

I guess the problem here is minors accepting user agreements/terms. Also anyone can make an account with just an email address and no further KYC so kids could be using Nash right now if they want technically. Though I’m not advising that. I think it would be a good idea and pretty easy to implement if you can get it to work legally and just block them from trading until they reach 18 but it could be more trouble than it’s worth to Nash.

Perhaps allow Nash users to create separate accounts/addresses in their Nash account for like savings accounts for their kids or something, or even just separated portions within the UI so people can save separate amounts for their kids or whoever.