You can also swap gift cards for crypto through platforms like BitPay and P2P platforms like Paxful. Buying crypto is not easy if you are less than 18 years old. Most cryptocurrency exchanges and investment platforms must abide by regulations that prevent the sale of cryptocurrencies to anyone under 18. However, restricted access for those under 18 is not universal.
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. How to buy crypto under 18 However, onboarding fiat like USD and EUR to buy crypto is a completely different story. It has low trading fees, such as no fees for spot trading, no fees for futures makers, and a 0.01% fee for futures takers. You can also get a 10% discount by holding MX tokens, the platform token of MEXC.
- This method ensures that you can seamlessly access, manage, send, purchase, and swap your cryptocurrencies without hassle.
- When you turn 18 (or the legal age in your region), many platforms allow you to convert the account or transfer assets into a personal account after fresh KYC.
- If you’re under 18, there are clear boundaries you should not cross when figuring out how to buy crypto under 18.
Why Do You Need Parental Consent?
- 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.
- Start with blue-chip assets, avoid leverage or perpetual futures, and never commit funds you can’t afford to lose.
- When she is not writing reviews or guides about DeFi and other crypto products and services, Emma prefers to spend her time in the company of her friends and family.
You need to understand how to manage your own crypto wallet and how to deal with network fees. There is also a higher risk of making mistakes if you are not careful, as there is no customer support to help you if you send funds to the wrong address. Check that the crypto your child is most excited about is among the investment selections available in the account you’re considering. Furthermore, given a child’s long time horizon for investments, if they own crypto now, it might grow substantially in value by the time it’s needed for expenses.
Start with a small investment and gradually increase it as you gain more knowledge and experience. Identify the eight cheapest crypto to transfer to your wallet with the lowest fees, and forget all about costly crypto transfers. Elevate your crypto trading career with CoinWire Trading signals. Get Premium daily signal calls, trading insight, updates about the current market, and analytics about hidden crypto gems now. It has many other popular services like Binance Visa Card, Launchpad, Binance Charity, BNB Chain, and more.
How Old Do You Have to Be to Buy Cryptocurrency?
Centralized exchanges typically enforce 18+ KYC and offer customer support and fraud controls. Decentralized exchanges don’t do KYC but demand higher technical skill and carry greater self-custody and compliance risks—unsuitable for unsupervised minors. Look for features like spending limits, activity notifications for parents, instant lock controls, and clear fee disclosures. If the app lets you swap between crypto and fiat, practice moving from rewards to savings, and track how the value fluctuates over time.
With privacy at the forefront, users can take advantage of all CoinEx products without needing to submit KYC documentation. Fortunately, there are several alternate ways to invest in crypto as a teenager. Many machines are placed in less monitored locations, making them unsafe. Some P2P platforms might have escrow services, which means the crypto is held by the platform until the payment is confirmed, adding a layer of security.
Adults make the investment decisions for custodial accounts, but the assets belong to the beneficiaries and the accounts transfer to them once they reach the age of majority. After the account is transferred, the new adult has full access to the account and can choose to continue investing or withdraw some or all of the money to use toward any expense. But a parent or custodian can buy crypto on a child’s behalf, or let them earn crypto without purchase. Cashing out can be tricky due to age restrictions and KYC requirements on most platforms. However, you can use No-KYC exchanges, decentralized exchanges, or MetaMask features to convert your crypto to fiat. Always consult with an adult before making any financial moves.
You just need to understand alternative methods and how to stay safe. Keep in mind that the value of Bitcoin can fluctuate, so the amount you receive upon selling may be different from your initial investment. The amount you invest in Bitcoin should be an amount you can afford to lose.
How can I talk to my parents about buying crypto as a teen?
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Wallets and self-custody basics for teens and parents
If fees are too high, those costs might cut too much into your profits, so you’ll generally want an account with low fees. But if the account is rich with features, it might be worth paying up rather than settling for a bare-bones free account. Investing apps, specifically those pertaining to kids and teens, often bundle investing capabilities with other financial features such as saving, spending, and budgeting. However, your child can’t just sign up for a crypto wallet and start purchasing cryptocurrency for themselves the same way an adult could. Use a reputable wallet, back up seed phrases offline, enable strong passwords and device security, and never share private keys.
His work has appeared in several outlets, including Yahoo! Finance, MSN Money, the Nasdaq, Barchart, The Globe and Mail, and U.S. You’ll need basic identification information about the child to get started, such as a birthday and Social Security number. You’ll also need to provide basic information about yourself.
If you’re under 18, the proper route is to have an adult complete KYC for a custodial or joint setup where legally available. Several teen-oriented fintech apps, with parent KYC and oversight, offer cashback in crypto or round-up features that allocate small amounts to a crypto allocation. 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.
According to data collected by Stilt, 17.40% of all cryptocurrency transactions are completed by those from Generation Z (currently aged between 18-24). Note that the payment method will vary depending on the cryptocurrency being purchased. Remember to check which payment methods are available for the crypto of interest. I am Amit Chahar, a Crypto and blockchain content creator at Wallet Reviewer.
Gate.io is another crypto altcoin exchange that doesn’t require ID proof for trading digital assets. You can trade more than 1,700 cryptos and tokens on Gate.io. Its features and services include spot, futures, margin, lending, staking, startup, and more.
Gaming currencies and gift cards are designed for minors and don’t require investment disclosures. Crypto is a financial asset with volatility, legal obligations, and age restrictions—treat it as investing, not as a game purchase. A custodial account is opened and controlled by an adult on behalf of a minor, allowing exposure to assets until the child reaches majority.
These little gadgets are like the Fort Knox for your crypto. They keep your private keys offline, making them virtually hack-proof. Lose your recovery seed, and you might as well say goodbye to your assets. 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 platforms offer a unique blend of pros and cons tailored for young traders. Guarda Wallet allows you to add Watch-Only wallets — a powerful tool for securely tracking your crypto balances and transactions without holding or exposing private keys.