Children are increasingly exposed to devices that can access the internet, such as computers, smartphones, and tablets, beginning early in life. This review summarizes current evidence regarding the understanding and use of internet‐based devices among children from birth through age 8, while highlighting gaps in the literature and opportunities for future research. The first section describes children's access to internet‐based devices, and discusses the role that parents play in mediating children's access to internet‐based devices. The second section describes children's developing understanding of how internet‐based devices work and what they can do, and how capable children are of accessing information from the internet using these devices. The third section discusses potential implications of children's use of internet‐based devices for children's cognitive development, with an emphasis on the development of memory, metacognition, and exploration.