So I'm big on not letting my kids go blindly into the world missing out on the knowledge I have about things, particularly at their age when they can do so much more than I ever had available as a teen or young person. Crypto is one of those concepts as well as how to use the Internet to make extra income. One of the easiest and risk-free ways for a noobie minor to get into crypto is Banano (BAN).
As a digital coin, Banano is an offshoot of Nano. Banano's blockchain network hit the primetime back in 2018 as a fork from Nano's network. Today, the coin has something well over 39,000 plus wallets and 32 million blocks on its chain already processed. Even better, unlike the bazillion alt poop coins out there, Banano is actually reasonable within the range of real value. The current crypto winter knocked it down a peg, but just last year it reach an eye-popping 4.95 cents a coin plus. Don't believe me? Look at the chart below:
But, much of the above is available history you can find on Banano's site and "yellowpaper" as well as in various crypto research site. Instead, today's story is about my kid getting savvy to this coin.
Again, the point of introduction was to teach my kid how crypto works with a coin that could be earned doing simple stuff online. Even better (this is where the eyes popped open), I offered to "cash out" my teen on what coins where collected over time with real fiat, i.e. being the personal family bank. So, once I had a Kalium wallet set up for them on their iPod, off they went into the wild digital lands looking for Banano sources. Faucets, JungleTV, Reddit and lot more were possible venues.
Recently, I checked in to see if my kid wanted to cash out their balance. I knew with the current crypto winter things were down, which would have been a good opportunity for me to stack up some more Banano already at a low price, plus give my kid some working cash. Looking at their wallet, however, they simply said, "no."
Nope, my kid didn't want to cash out. That balance of couple hundred Banano was lock-tight in some tight-fisted diamond hands I mistakenly created with education. What have I done?
Fortunately, they don't know about the daily mayhem on the Banano Discord channel....yet.
For now, Banano is kind of in the pits, value-wise. Not surprising. It was not exempted from the crypto winter of 2022. However, as the saying goes, 1 BAN = 1 BAN. It's easy to earn, easy to save, and it does add up. Further, if you do the math, 1,000 BAN at a value of 0.5 cent (i.e. $0.005) might be worth only $5.00, but what happens when it goes to 1 cent, or 2, or 10, or 20? You get the idea. Banano can definitely rocket, just like DOGE. and when it does, hold tight. My kid might be the next "wen BAN moon" millionaire.