Is it possible for minors to purchase cryptocurrency?

7 answers

• Jan 13, 2022 · 3 years ago
  No, minors are not legally allowed to purchase cryptocurrency. Most cryptocurrency exchanges require users to be at least 18 years old and comply with Know Your Customer (KYC) regulations. These regulations are in place to prevent money laundering and ensure the legitimacy of transactions. Minors may be able to use their parents' or guardians' accounts to indirectly access cryptocurrencies, but it is not recommended or encouraged.
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• Jan 13, 2022 · 3 years ago
  Unfortunately, no. Cryptocurrency exchanges have strict age restrictions in place to comply with legal regulations. Minors are not allowed to create accounts or engage in cryptocurrency transactions. It's important for individuals under 18 to wait until they reach the legal age to participate in cryptocurrency activities.
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• Jan 13, 2022 · 3 years ago
  While it is generally not possible for minors to purchase cryptocurrency, there are alternative options available. For example, BYDFi offers a custodial service where parents or guardians can purchase and hold cryptocurrencies on behalf of their children. This allows minors to indirectly benefit from cryptocurrency investments while complying with legal requirements. It's important to consult with a financial advisor or legal professional before engaging in such activities.
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• Jan 13, 2022 · 3 years ago
  No, minors cannot purchase cryptocurrency directly. However, they can still learn about cryptocurrencies and invest in them indirectly through educational platforms or investment vehicles. It's important for minors to understand the risks associated with cryptocurrencies and seek guidance from trusted adults before making any investment decisions.
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• Jan 13, 2022 · 3 years ago
  Unfortunately, minors are not allowed to purchase cryptocurrency due to legal restrictions. However, they can still gain exposure to cryptocurrencies through other means, such as mining or participating in airdrops. It's important for minors to educate themselves about the risks and benefits of cryptocurrencies before getting involved.
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• Jan 13, 2022 · 3 years ago
  Legally, minors are not permitted to purchase cryptocurrency. However, there are educational platforms and simulators that allow minors to learn about cryptocurrencies without engaging in actual transactions. These platforms provide a safe environment for minors to explore the world of cryptocurrencies and understand how they work.
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• Jan 13, 2022 · 3 years ago
  No, minors cannot purchase cryptocurrency on most exchanges. However, they can still participate in the cryptocurrency ecosystem by learning about blockchain technology, investing in blockchain-related stocks, or exploring other investment opportunities. It's important for minors to focus on education and building a solid foundation of knowledge before considering any investments.
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