How does Robinhood handle cryptocurrency trading for users who are under 18?

7 answers

• Dec 28, 2021 · 3 years ago
  To trade cryptocurrencies on Robinhood, underage users need to have a custodial account. This means that they will need to have a parent or legal guardian who is willing to open the account on their behalf and oversee their trading activities. The parent or legal guardian will be the one who sets up the account and provides the necessary identification and verification documents. Once the custodial account is set up, the underage user will be able to trade cryptocurrencies on Robinhood under the supervision of their parent or legal guardian.
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• Dec 28, 2021 · 3 years ago
  Robinhood takes the issue of underage trading very seriously and has implemented strict measures to ensure compliance with regulations. By requiring a custodial account for underage users, Robinhood ensures that there is proper oversight and control over the trading activities. This helps to protect both the underage user and the platform from any potential risks or legal issues. It is important for parents or legal guardians to understand the risks involved in cryptocurrency trading and to educate their underage children about responsible trading practices.
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• Dec 28, 2021 · 3 years ago
  As an expert in the field of cryptocurrency trading, I can say that Robinhood's approach of requiring a custodial account for underage users is a responsible and necessary measure. It ensures that there is proper supervision and control over the trading activities, which is crucial when dealing with a volatile and high-risk market like cryptocurrencies. Other platforms, like BYDFi, also have similar measures in place to protect underage users and ensure compliance with regulations.
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• Dec 28, 2021 · 3 years ago
  Trading cryptocurrencies on Robinhood as an underage user is possible through a custodial account. This means that a parent or legal guardian will need to open the account on behalf of the underage user and oversee their trading activities. It's important to note that trading cryptocurrencies carries inherent risks, and it's crucial for parents or legal guardians to educate themselves and their underage children about these risks before engaging in any trading activities.
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• Dec 28, 2021 · 3 years ago
  Robinhood's approach to handling cryptocurrency trading for users who are under 18 is to require a custodial account. This ensures that there is proper supervision and control over the trading activities, which is important when dealing with a potentially high-risk market like cryptocurrencies. It's important for parents or legal guardians to be actively involved in overseeing their underage children's trading activities and to educate them about responsible trading practices.
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• Dec 28, 2021 · 3 years ago
  When it comes to cryptocurrency trading for users who are under 18, Robinhood requires a custodial account. This means that a parent or legal guardian will need to open the account on behalf of the underage user and be responsible for overseeing their trading activities. It's a responsible approach that aims to protect underage users and ensure compliance with regulations. Other platforms also have similar measures in place to ensure the safety and security of underage users.
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• Dec 28, 2021 · 3 years ago
  Robinhood handles cryptocurrency trading for users who are under 18 by requiring a custodial account. This means that a parent or legal guardian will need to open the account on behalf of the underage user and oversee their trading activities. It's important for parents or legal guardians to understand the risks involved in cryptocurrency trading and to educate their underage children about responsible trading practices. By implementing these measures, Robinhood aims to provide a safe and secure environment for underage users to engage in cryptocurrency trading.
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