Binance’s Kids Crypto App Generates Mixed Responses

Binance has introduced Binance Junior, a crypto app controlled by parents for users aged 6 to 17, igniting discussions about the implications of introducing digital assets to minors.

The company announced on Wednesday that Binance Junior is a separate mobile app associated with a parent’s primary Binance account. This tool enables adults to deposit crypto, set spending and transfer limits, and activate Earn products for their children, depending on local laws. 

Binance presents the new product as a financial literacy tool aimed at families. It resembles traditional custodial accounts, allowing children to hold assets while parents retain legal ownership and control of permissions. 

The announcement elicited mixed responses from the community, with some applauding the initiative and others criticizing the exchange for appealing to children. 

Binance Junior’s parental controls 

Binance Junior functions as a custodial sub-account, meaning the parent’s verified identity is central to the entire setup. 

The app allows parents to fund it from their main Binance account, transfer assets via on-chain transactions, and decide whether to activate the Junior Flexible Simple Earn feature, an interest-earning product offered by Binance. 

Teens aged 13 and older can also utilize Binance Pay to send and receive crypto between Junior accounts or to their parents, with daily limits established by the adult. 

Binance noted on the Binance Junior website that certain features may be restricted based on the user’s location, emphasizing that various laws might restrict access to the products. 

Cointelegraph reached out to Binance for further details but had not received a response by the time of publication. 

Related: Crypto needs a better story: Influencer thinks it starts with saving children

Community divided over kids and crypto

Reactions from the crypto community were divided.

One X user criticized Binance for “targeting” children, questioning whether existing youth-focused marketing strategies were insufficient. 

Another described the initiative as “crazy and irresponsible,” while another commenter joked about children becoming “exit liquidity.” 

However, not everyone shared the same viewpoint. One community member asserted that introducing the younger generation to crypto was “crucial for genuine adoption,” complimenting the parental controls included with the product.