Key Takeaways
- Binance introduced a parent-supervised crypto savings app for users aged 6 to 17.
- The service blocks trading and withdrawals while allowing earnings through Simple Earn.
- Teens can make limited transfers only to their parent or other junior accounts.
- The launch is part of Binance’s broader push to promote digital finance education for families.
Binance has rolled out “Binance Junior,” a family-centered service designed to help parents create digital savings for their children. The new independent app links directly to a parent’s main account and is built for users ranging from early childhood to their later teenage years.
How the Platform Works
The new platform gives parents the ability to set up and oversee a crypto savings account for a child while keeping all trading activity off limits. Binance said the initiative is meant to encourage early lessons in personal finance and familiarize younger users with digital assets in an environment where every action is monitored by an adult.
According to the company, parents can move funds into the junior account directly from their own wallet or through transfers on the blockchain. Earnings on the account are generated through the firm’s flexible Simple Earn product, which remains under parental control.
Yi He, a co-founder of Binance, said the project aims to help families plan for children’s financial wellbeing as the concept of money changes. She noted that early exposure to responsible saving could help young people cope with financial decisions later in life.
Safety Controls and Restrictions
The junior app uses a simplified interface and allows older teenagers, to send transfers within a limited network. These transfers can go only to the linked parental account or to other junior users, and they are subject to daily caps.
According to Binance, the parents remain the legal owner of the junior account, even though the child’s name is used only for identification, and they receive real time notifications for every action on the account while retaining the ability to freeze it whenever they choose.
Part of a Wider Education Initiative
The launch forms part of a broader education push by Binance. Alongside the new app, the company has released a children’s book titled “ABC’s of Crypto” that explains essential concepts in digital assets, from blockchain security to different categories of tokens, in an introductory format aimed at families learning together.
Binance said the service is intended for families seeking a controlled and secure entry point into digital finance, as more households navigate the shift toward assets that live entirely online.
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