Wake Up Wednesday: What Parents Need to Know About Cryptocurrency

ryptocurrency is software enabling the exchange and storage of digital ‘coins’ representing financial value. To monitor who owns which coins, platforms save an online record of every transaction, called a ‘ledger’ or ‘blockchain’. This is secured by cryptography: a set of methods for protecting sensitive information. Bitcoin, released in 2009, was the first cryptocurrency; other platforms have since launched such as Ethereum, Tezos and Filecoin. As cryptocurrency becomes a more established part of digital life, young people are bound to encounter it – so it’s vital that trusted adults understand its risks, and how it can be explored and used safely.

In the guide, you’ll find tips on a number of potential risks such as complex technology, scams and risky investments.