If the word “cryptocurrency” gives you a migraine, Cara Cusack asks that you don’t stop reading just yet. The inventor of the crypto wallet and founder of Heirloom Trust says that she can help you understand what digital currency is, how and why it is used, and why investing in it for your younger family member is the wisest financial decision you can make for them. “It has the potential to give much higher returns than any of the traditional ways we invest on behalf of those we love, like CDs,” Cara states. “I think you’re going to be impressed by what cryptocurrency can mean for your inheritance planning.”
Cryptocurrency, as most of us know by now, is a booming technology that is both powerful and a bit mysterious for those who don’t work with it. Cara explains that it is digital money, and as our world evolves and becomes more dependent on the Internet, cryptocurrency will occupy a much larger slice of the global economy. “I saw its potential years ago and invested in it myself,” Cara says. “I did well enough to think about using it to leave an inheritance for my nine grandchildren. I thought they’d enjoy the ‘wow’ factor and have fun watching it grow over the years until they turned eighteen and could access it. Incredibly, there was nothing on the market like Heirloom Trust’s crypto wallet when I went looking for one, so I decided to create it myself.”
Remember that migraine? Here is where you can say goodbye to it. For those who have always privately wondered about what exactly cryptocurrency is but couldn’t find information, Cara has a primer that explains it all in terms that are easy to understand. “Even if you’re on the fence about the crypto wallet, take a look at the primer,” she recommends. “Knowledge is what leads to good decisions, we all agree. On this page, you can learn what you need to know to be able to decide if cryptocurrency would be a wise investment for you and your loved ones.”
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.”
It may be difficult to imagine your two-year-old granddaughter as an eighteen-year-old woman about to start her adult life, but that time is coming. Cara is thinking of her own grandchildren when she says, “I know that when they step out into the world and leave the nest, I want them to be on solid financial footing. That’s why I believe so strongly in the crypto wallet. It can provide my grandchildren with a real future, one in which they will be able to pay for college and do the things they have always dreamed of doing.”
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#/.