So it is unsurprising that many of them are aware of cryptocurrency. And we can understand the new generation’s fascination with cryptocurrencies, which are fast gaining popularity. You can check my list of best cryptocurrency wallets in the market for teenagers under the age of 18 years. In this guide, you will learn how to invest in cryptocurrency under 18 year old as a teenage investor. If you’re under 18 and wondering how to trade crypto as a minor, P2P platforms like Bisq, HodlHodl, and Localcryptos.com could be your answer.
- These are your go-to platforms for trading a wide range of cryptocurrencies.
- They can get your coins with their crypto account and send them to your crypto wallet.
- Buying crypto under 18 can be a challenging task, but not an impossible one.
- Decentralized applications or “dApps” are open-source software that no one person controls.
- You can deposit Bitcoin and start trading right away without showing your ID.
Bitcoin ATMs are machines that let you purchase Bitcoin with cash or a debit card. You can locate the closest Bitcoin ATM by using a website such as Coin ATM Radar. Sign up for Gate.io using the code “BgdCUgtf” to receive up to $100 in reward bonus and enjoy -10% trading fees now. In this guide, we will tell you https://www.crypto-trading.info/ safely and legally. Cryptocurrencies have become very popular among teenagers, who see them as a way to make money, express their creativity, and participate in a global community.
Challenges Minors Face
Funds can be deposited using a range of payment methods including credit cards, SEPA, bank transfer, and Google Pay. While fees are higher for One Click Buy purchases, spot trading fees for non-verified users start from 0.1% which is competitive in the market. The age requirement to buy crypto varies from country to country, as different countries have different laws and rules about digital assets. In general, most of the legal crypto exchanges need you to be at least 18 years old to make an account and buy or sell crypto. This information is often not posted upfront on the websites of these online brokerage firms offering crypto custodial accounts. Most cryptocurrency exchanges and investment platforms must abide by regulations that prevent the sale of cryptocurrencies to anyone under 18.
While you can take steps to secure your crypto wallet, exchange accounts, and other crypto apps, there is a higher risk of fraud than with most other assets. For example, EarlyBird is one of the first custodial accounts to offer crypto investing. You can deposit funds to your child’s EarlyBird account, and within the account, you can choose to invest in Bitcoin or Ethereum. Ethereum is programmable, so it’s seen as the operating system on which many decentralized crypto apps are being built today. Ethereum can be bought or sold on most major crypto exchanges, some brokerages, and some finance apps.
Since P2P platforms typically don’t require you to complete any KYC processes, they can be a great way of buying and selling crypto for those under 18. Along with these top options, there is an overabundance of altcoins, such as XRP, USD Coin, Polkadot, Uniswap, and more. As a teen investor, however, you should probably stick to the top 3 coins on the list above in order to stay out of harm’s way as much as possible when it comes to crypto investing. It would not be difficult for a minor to find a person on social networks willing to sell cryptocurrency in their city. However, this method is very doubtful, could lead to loss of money, and is unsafe for the child.
How to Buy Bitcoin Under 18? [Age Limit in 2023]
If you’re interested in investing directly in cryptocurrency, it is easiest to go through a cryptocurrency exchange. These exchanges act as middlemen between buyers and sellers and usually charge a small fee for each transaction. However, these services do not accept members under the age of 18. And they don’t offer custodial accounts, so parents can buy crypto for their kids through them. You can find a complete list of the top crypto exchanges on the Coinmarketcap.com website. We have compiled a list of crypto exchanges that do not require ID.
To further complicate things, the Securities and Exchange Commission (SEC) has set a minimum age limit of 18 for all investors, regardless of their financial status. Your parents (or other adults) have to establish a custodial account on your behalf. You would be the beneficiary of the account, but you won’t get control of it until you are either 18 or 21 depending on the state in which you reside. Once the account is open, you can start funding it with cash, stocks, or other assets.
Using Bitcoin ATMs
Make sure to do thorough research and only invest money you can afford to lose. Airdrops and faucets are distribution methods used by certain projects to introduce new tokens or cryptocurrencies to the community. Participating in these events can sometimes result in receiving small amounts of various cryptocurrencies that can be converted to Bitcoin if you so choose. To stay up to date with the latest airdrops, it’s best to use websites tracking airdrops. Buying Bitcoin on cryptocurrency exchanges using other cryptocurrencies is very easy and can be done on virtually any exchange, whether you are 18 or not.
But wait, there’s a catch—most platforms won’t let you in without a guardian by your side. Let’s delve into why parental consent isn’t just a formality but a necessity for both legal and financial safety. In a nutshell, buying crypto under 18 is doable but comes with its own set of rules. It’s not just about making money; it’s about being financially savvy and responsible. Before completing the transaction, remember to double-check all transaction details. Check the ‘Reference Price’ at the bottom of the page to understand exactly what cryptocurrencies will be received.
Please keep a backup file and store it properly, along with your password. So in the case of a loss, the Guarda team will not be able to retrieve it. Reliable crypto exchange by a developer https://www.topbitcoinnews.org/ known as Changpeng Zhao, who’s now retired as CEO. Whether you join one of your parent’s names or purchase OTC, there are some approaches to get your hands on some cryptocurrencies.
You have several options to buy cryptocurrency if you’re under 18. Firstly, your parent or guardian can purchase coins for you and send them to your crypto wallet via their crypto account with permission. Alternatively, you can use Bitcoin ATMs to buy crypto with cash or a debit card.
Being a minor, you cannot really do that without your parent’s or guardian’s assistance. Crypto-related stocks can be purchased through custodial accounts set up by your parents (or other adults) with you as the beneficiary. Crypto ETFs can be purchased through custodial accounts set up by your parents (or other adults) with you https://www.bitcoin-mining.biz/ as the owner but your parents (or other adults) as the custodian.. Listed below are four companies that offer apps through which parents can establish crypto custodial accounts for their kids under 18. With a hardware wallet, your parents can easily transfer the cryptocurrency directly to you when you are no longer a minor.
Next, you will be prompted to enter your email address or phone number. You will receive a verification code, which you need to enter in the box. Learn everything about staking, how it works, the possible income & start staking. A Bitcoin.Com survey found out that millennials have greater interest in crypto than all the other age groups in the ecosystem. You’re tech-savvy, you’ve done your homework, and you’re ready to invest. Buying cryptocurrencies under 18 does not have to be a tricky process.
After the transaction has been completed, unless otherwise specified, cryptos will be sent to an exchange wallet on the KuCoin platform. Some of the safest crypto wallets to use as a teenager are Ledger Nano X, Trezor Model T, MetaMask Wallet, Exodus, and Bitcoin Paper Wallet. There are 10 million registered users and more than 200,000 daily active users on MEXC. It also supports more than 1630 trading pairs, including major cryptos, DeFi tokens, NFT tokens, GameFi tokens, and Metaverse tokens.
Deixe um comentário