Parents should educate themselves and their children about cryptocurrency, choose secure and reputable wallets and platforms, and monitor their child’s crypto activities. Establishing a transparent dialogue about the risks and responsibilities involved in managing a crypto wallet under 18 is also pivotal for ensuring safety. However, with parental consent and supervision, it might be possible for a minor to use Trust Wallet. Always adhere to the terms of service and local legal regulations regarding age restrictions and cryptocurrency usage. You’ve got options like Bitcoin ATMs, P2P exchanges, and decentralized exchanges (DEXs). Parental assistance can also come in handy, as can crypto gift cards.
Most crypto exchanges have an 18+ age requirement, but minors can invest in crypto with parental consent through a custodial account. Always be aware of tax implications and consult with your parents to stay on the right side of the law. The age requirement to buy crypto varies from country to country, as different countries have different laws and rules about digital assets.
Head over to the KuCoin website and click ‘Sign Up’ in the top right corner of the screen. KuCoin provides the option to use either an email address or phone number to create an account. Choose a strong password and read the ‘Terms & Conditions.’ The email address or phone number may need verification before access is granted.
Using Gift Cards
If you’re under 19 (or 24 and a student), your unearned income up to $2,200 is safe. Sign up for Gate.io using the code “BgdCUgtf” to receive up to $100 in reward bonus and enjoy -10% trading fees now. PrimeXBT is a platform that was launched in 2017 to allow users to trade forex, commodities, and indices using Bitcoin as collateral. Unlike competitors, the platform allows USD withdrawals up to $20,000 and is our best pick for those under 18 who want to withdraw in USD. Hedge With Crypto is an independent publisher that provides objective and free content. However, our editorial content remains unbiased, reflecting our own opinions or the general information available.
How can minors cash out their crypto investments?
When selling crypto, you can do so (under parental supervision) through the same exchange used to buy the crypto or, if you’d prefer, find an exchange with better rates. Once you’ve found a buyer and agreed on a price, you’ll need to send the crypto to the buyer’s digital wallet and, once they’ve accepted it, the funds will be deposited into your account. 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 documenting python code 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. Blockchain technology was first established in 1991 but it wasn’t until 2009 that Satoshi Nakamoto put it into action to create the first cryptocurrency—Bitcoin.
Is It Legal to Buy Cryptocurrency Under 18?
This surge isn’t confined to the millennials; the under-18 demographic is diving in too, spurred by tales of youthful crypto magnates. You can still rake in decent earnings from crypto airdrops with minimal investment. So, with $100, you can make 10 transactions, hit a $1,000 volume, and keep the cycle going. The key point here is that you want to be, and take front end vs back end development actions to be, their loyal community members. These are your go-to platforms for trading a wide range of cryptocurrencies. They’re centralized, meaning they operate under a single entity.
The information provided on this blog is for general informational and educational purposes only. Cryptocurrency investments are volatile and high risk in nature; it is possible to lose your entire investment. Yes, in most cases, you will need to provide personal identification documents when buying cryptocurrency.
- Decentralized exchanges (DEXs) are like unique online marketplaces where you can buy and sell cryptocurrencies, even if you’re under 18.
- Platforms have to adhere to regulatory guidelines to avoid legal hassles.
- Therefore, these exchanges should be used by a parent or guardian on behalf of the minor.
- KuCoin provides the option to use either an email address or phone number to create an account.
- KuCoin is another ideal trading platform to buy cryptocurrencies or Bitcoin if you’re under 18.
Whether it’s using a Bitcoin ATM in your neighborhood or getting your parents to lend a helping hand, you’ve got options. Just remember, each comes with its own set of pros and cons, so choose wisely. First off, the age restriction on most crypto platforms isn’t arbitrary; it’s a legal mandate. Platforms have to adhere to regulatory guidelines to avoid legal hassles.
Once they’ve selected a how to invest in blockchain technology crypto exchange, they will need to create an account and deposit money into it. After that, they can start buying crypto directly from a vendor. Remember, though, if you are under 18, you cannot buy financial assets on your own; adults (typically your parents) have to establish custodial accounts for you. They can manage the purchasing of the assets on your behalf, but you generally won’t gain control over the assets until you are over 18 years old. Please note that the information provided here is not tailored to fit any individual’s needs or preferences, and it should not be taken as financial advice.