Major fintech company SoFi Technologies Inc. is now offering crypto trading in its banking app — letting customers buy, sell and hold digital currencies like Bitcoin, Ethereum and Solana.
Sounds exciting. But before your family jumps in, you should know: crypto is still highly speculative, volatile, and not the same as building lasting wealth.
What you can do instead is show your kids how to build dependable habits, save for real goals, and focus on value that lasts.
Why Crypto Is Risky for Families
• Cryptocurrencies often face dramatic price swings; what rises quickly can fall just as fast.
• Many of the “success stories” around crypto are speculative — hoping for large gains rather than steady growth.
• When institutions like banks offer crypto trading, it can feel like “everyone’s in it” — which is often a sign you should pause, not rush.
• Your household’s financial strength depends on regular, dependable habits (saving, budgeting, investing wisely) — not riding the next hype wave.
What You Should Encourage Kids To Do Instead
1. Start a “saving habit” early
Challenge your kids to set aside a weekly or monthly amount into a “real money” savings jar or account — teach them that saving steadily beats chasing swings.
2. Build skills that last
Encourage kids to:
• Learn budgeting & spending tracking
• Understand how interest works (for savings, not just loans)
• Get excited about building things (projects, side-hustles) rather than quick flips
3. Use real goals, not wild dreams
Help them pick a meaningful goal: “I’ll save $300 for a laptop,” or “I’ll build $50/month into a fund for college.”
Then track progress instead of dreaming of “making 10× overnight.”
4. Invest in low-risk, steady value
Teach about simple vehicles — say, a savings account, a low-cost index fund, or diversified fund that grows gradually. Not “I’ll buy this crypto and get rich quick.”
5. Discuss marketing & hype
Use the crypto story as a teachable moment:
“Everyone’s excited about crypto now; that excitement can make prices go up quickly — but when reality doesn’t match the hype, things can fall fast. That’s why we focus on steady habits.”
This builds awareness of risk and wise money mindset.
Bottom Line
Yes, crypto is getting mainstream — banks like SoFi are offering it now. But national adoption doesn’t equal safety for your household or guarantee of gains.
For your family budget:
• Prioritize consistency over speculation
• Show your children that saving, budgeting, skill-building beat chasing trends
• Let crypto be a conversation, not your strategy
When you build real financial strength, you’re not chasing the next hype — you’re creating a foundation. That’s how families win long term.
