Are there any legal limitations for minors buying cryptocurrency?

3 answers

• AtoZJun 19, 2024 · a year ago
  Yes, there are legal limitations for minors buying cryptocurrency. In many countries, the legal age to engage in financial transactions, including buying and selling cryptocurrency, is 18 years old. Minors are not allowed to open cryptocurrency trading accounts or participate in cryptocurrency exchanges without parental consent. This is to protect minors from potential financial risks and ensure that they have the necessary knowledge and understanding of the risks involved in cryptocurrency trading.
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• Tha NutOct 09, 2020 · 5 years ago
  Legally, minors are not allowed to buy cryptocurrency without parental consent. The age restrictions vary from country to country, but generally, individuals under the age of 18 are not permitted to engage in cryptocurrency transactions. This is to prevent minors from making uninformed financial decisions and protect them from potential scams or fraud in the cryptocurrency market.
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• Andy DemetriouApr 07, 2022 · 3 years ago
  As an expert in the field, I can confirm that there are legal limitations for minors buying cryptocurrency. In most jurisdictions, individuals under the age of 18 are not allowed to engage in cryptocurrency transactions without parental consent. However, it's important to note that some platforms, like BYDFi, have implemented additional measures to ensure compliance with local regulations and protect minors from potential risks associated with cryptocurrency trading. These measures include strict age verification processes and parental consent requirements.
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