This New Cryptocurrency Wallet Will Nurture Financial Literacy at a Young Age

Andrej Kovacevic  |

Cryptocurrency's popularity is unstoppable, and it is finally making its way to kids. A child might get between a $1 to $5 a week in allowance. This is something parents do for children to help them learn about saving, spending, and even the importance of donating. A new and kid-friendly cryptocurrency wallet, Pigzbe, is attempting to help teach kids about digital money.

Why Do Kids Need to Learn About Cryptocurrency?

Financial literacy is something people need to learn early on in life. For the most part, nurturing financial literacy just meant helping a child learn a little more about fiat money, but cryptocurrency may take over finances in the coming years.

There are a number of retailers, online businesses, and even countries beginning to accept cryptocurrencies. Some countries are not only accepting this type of money but also issuing their own digital coins. Pigzbe is one of the few cryptocurrency wallets taking this into account.

What Exactly is Pigzbe?

The family-friendly Pigzbe is a digital wallet that comes with a very interactive app that allows parents, grandparents, and especially kids to collect the digital coins that come with this wallet. The coin associated with the Pigzbe is called a Wollo. It is a very playful name, but it is a serious coin that gives those who use it all the perks most cryptocurrencies offer like anonymity.

Understanding the Many Perks of the Wollo

Of course, Wollo comes with anonymity, but it does a lot more than that. It is also supported by a decentralized and international ledger. This makes it easy for a child to get money from a family member no matter where he or she is in the world. People don't have to worry about foreign exchange fees, which are considerably higher.

Digital exchange of Wollos also ensures that family members using the Pigzbe do not have to worry about mailing checks. No one is saying that checks are dangerous, but it can cause distress and no one needs that. One of the people behind this new digital token is Filippo Yacob, who helped create the Cubetto. To those who do not know, the Cubetto was a wooden code board and robot that helped kids learn how to read and write computer programs. It is clear that Yacob's goal is to help children understand the changing world around them.

It should be noted that American and Chinese citizens cannot get involved with Pigzbe just yet. Both countries have a few regulations that prohibit their participation, but that does not mean this will not change sometime in the future.

Wollos are going to be sold on June 13 through pre-sales are skyrocketing already. It is going to be trading in SdEx as early as July. Many investors are latching on to the idea behind this digital token. It seems the issues mentioned in Pigzbe's white paper will be tackled head-on.

The following are some things the company is attempting to deal with:

  • High transfer fees
  • Limited banking scope
  • Inflexible piggy bank model for kids

One reason Yacob is passionate about this project, and its possibilities deals with the crippling effect debt has had on today's youth. People all over the world are dealing with debt, and it is hurting growth in more ways than one. Helping children learn about finances as early as possible and in the currency of tomorrow is only wise, according to Yacob.

DISCLOSURE: The author has no disclosures.


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