Can you buy cryptocurrency at any age? What will happen if you are teenagers under 18, but you have interest in cryptocurrency and want to invest in it? Is it legal? The answer is a iron NO. Even if there is technically no age restriction for trading, investing or mining cryptocurrencies, crypto platforms including Coinbase and Paypal do impose a minimum age restriction on users. They kind of “demand” you to be at least 18 in order to get involved cryptocurrency, such as Bitcoin (BTC), Ethereum, Dogecoin, Ether, Litecoin or another type of digital currency. So the answer of that question is you have to be at least 18 to buy cryptocurrency.
Quick Review for What Is Cryptocurrency
In a short word, cryptocurrency is a virtual or digital currency, and a medium of exchange that uses cryptographic principles to secure transactions and control the creation of units of exchange.
The truth is that we are witnessing the era of digital assets as an alternative to fiat money. To be more accurate, cryptocurrencies offer much more possibilities than traditional money and in this way it represents a lucrative asset for both tech enthusiasts and businessmen. With it expanding the influence of its, more and more players are throwing themselves to buy it, some of which are underage children.
What kids Should Know about Cryptocurrency
The most important thing children should know about is risk. It is also the thing that shifts some players out of the game. In view of children’s insufficient social experience and immature judgement, the age limit does have its reason to exist for the volatility of cryptocurrency can easily break players’ heart.
Therefore, some risks children must bear in mind. First, the volatility of cryptocurrency; second, it may face regulation problems; third, it is very likely to run into scams, particularly if you are inexperienced; four, the things related to it and you must know about, such as transaction fee, etc.
And these is merely slight part of the risk in cryptocurrency. Once you are in this crypto GAME, you would run into various risks on the road. One quick question, how can most of kids handle them while most of adults quit this gamble? So remind me again, how old do you have to be to buy cryptocurrency?
How Does Underage Buy It
However, there is no any such kind of legal minimum age for an individual to buy BTC. Bitcoin isn’t illegal, so there isn’t any reason to ban underage kids from using BTC for various financial transactions just like fiat money. Lots of different options are there for you to choose if you are underage who want to buy some Bitcoin. Remember, do what within your capability. The beat way to perform is under parents’ guidance.
Though lots of popular cryptocurrency exchange platforms require you to be at least 18 and use your ID as an account user name, you can ask a family member for help such as your parents and your older siblings. And besides this way, you can go to some exchange platforms offering services for underage, such as Binance. It is a genuine great option to buy and exchange if you are a minor.
Over-the-Counter Bitcoin Brokers, Bitcoin ATMs, and gift cards are also good options to set your first feet in cryptocurrency. They always go smoothly for minors that wants to buy some BTC and can avoid all the extra hassle for them.
In this case, it doesn’t seem matter how old are you actually for you are just operate it in a safe and basic way. The key to remain safe is DON’T DO THINGS OU OF YOUR LEAGUE.
The Future of Cryptocurrency
If underage are interested in cryptocurrency, it is probably not always a bad things. At least, it indicates that they have an investment eye at early age. Rather than struggling with how old do you have to be to buy it, it is much better to let kids know more information scientifically. Don’t forget, cryptocurrency is in a trend of rising all the time. Let’s know more about the future of cryptocurrency.
The future of cryptocurrency is predicted to see several rises after the crash last several months. The popularity and benefits offered by Bitcoin and the other Altcoins have reached new heights in various sectors. This makes investment in cryptocurrency a suitable prospect and promising one.