Buying Bitcoin for my kids

I have a few young children and they have bank accounts that are earning them nearly nothing in interest. I would like to purchase some bitcoin for them but I'm not sure what is the best route since they cannot have their own accounts on exchanges. So I'm leaning towards just buying it on my own account and sending it to a hardware wallet for each of them but Idk how taxes and all the crap will work on that in the future if they ever need to sell the bitcoin. Thanks in advance