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Entrepreneur

Heirloom Trust’s Crypto Wallets Safeguard Your Child’s Future

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It is truly amazing what happens inside the small, metal contraptions that sit on the desks in so many homes. Fortunes are made and lost. Private thoughts are posted on blogs. Lives are documented for all to see on social media. Added to that is the ability of people to buy and sell things with other people around the world, all without the influence or rules of any governments or banks. I am talking, of course, about cryptocurrency, the digital money that exists only inside our computers. It seems like only yesterday that people scoffed at its very idea, yet today investors are making millions from it. They are seeing the potential it has to dominate the global marketplace a few decades from now. One such person is Cara Cusack, the inventor of the crypto wallet and founder of  Heirloom Trust. She believes the usage of cryptocurrency will only continue to grow, and her crypto wallet is giving parents and grandparents a safe, easy way to invest in it for their children and grandchildren. 

Cara created Heirloom Trust after she could not find a way to leave an heritance for her own nine grandchildren using cryptocurrency. “I wanted a way that would be fun and be in their own language, so to speak. Kids today are so tech-friendly that the traditional ways of leaving an inheritance fall flat with them. I invented the crypto wallet because it would be fun for my grandkids, invest in a booming technology, and let them learn about financial planning at the same time.”

Before deciding to invest in a crypto wallet, Cara recommends that you read through her primer first. “Any good investment starts with solid information, so if you’re not sure what cryptocurrency is or why it’s going to be with us for years to come, this is a good place to start,” she says. “With that information, you can make a more informed decision.”

Cara explains that once you decide to invest in one of Heirloom Trust’s crypto wallets, the rest 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.”

Looking at a little grandchild, it can be difficult to envision what their world will look like when they are old enough to access the funds you have left them. “Believe me, I understand,” says Cara. “I want my own grandchildren to stay young forever! But their future is coming, as we grandparents all know. I have some peace of mind knowing that no matter what the future will look like for them, they will be on solid financial footing because of the investment I made on their behalf.”

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#/.

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