Binance has announced that it has rolled out Binance Junior, a parent-controlled app and sub-account for kids and teens, ages between six to 17.
Through this move, Binance aims to provide parents with a family-friendly platform to develop crypto wealth and savings. Additionally, this focuses on enabling parents to prepare their children for a digital financial future.
What does Binance Junior bring?
With Binance Junior, parents can open and manage crypto savings accounts on behalf of their children, allowing young users to save and earn crypto in the account through Binance Flexible Simple Earn. However, to ensure safety, no trading activities are permitted.
Additionally, parents can fund the Binance Junior account through their master account or via on-chain transfers. Providing controlled early exposure to savings and digital assets through Binance Junior is set to enable parents to invest in their children’s financial future and support positive savings habits.
Considering that crypto is more and more integrated with mainstream finance, the newly launched solution focuses on offering young users a solid foundation in personal finance and digital asset education, facilitating long-term financial literacy and readiness for the evolving economic landscape.
Furthermore, Binance developed the product to fit the needs of both crypto-native parents and those who are just getting started with digital assets, assisting them in beginning their digital finance journey in a safe environment that implements parental controls and monitoring.
When it comes to Binance Junior users aged 13 and above, they can initiate transfers on their app, with a higher age criterion where required by local regulations, and with daily limits being applied. Trading is not allowed, and transfers to non-parental adult users are limited. To maintain safety and control, parents are set to be notified of every transaction from their Junior account. Additionally, they receive the ability to disable their child’s Junior account and stop all transfers immediately.
Binance Junior is set to be available in select countries through the Apple App Store and Google Play Store.
Supporting financial literacy
Binance, in its commitment to educate individuals about digital assets and prepare the next generation for financial health and wealth, has released a self-published book, namely ‘ABC’s of Crypto’. The company designed the book as a children’s book for anyone who wants to learn about crypto, with it breaking down fundamental terms in crypto.
