Are there any restrictions for minors buying cryptocurrency?

3 answers

• Matthew Jia-En BirdJun 20, 2021 · 4 years ago
  Yes, there are restrictions for minors buying cryptocurrency. In most countries, individuals under a certain age, typically 18 or 21, are not legally allowed to engage in financial transactions, including buying cryptocurrencies. This is to protect minors from potential risks and scams associated with the volatile nature of the cryptocurrency market. It is important for minors to understand and comply with the legal requirements in their jurisdiction before attempting to purchase cryptocurrencies.
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• Day MitchellMay 19, 2021 · 4 years ago
  Buying cryptocurrency as a minor can be challenging due to legal restrictions. Minors are generally not allowed to enter into binding contracts, and purchasing cryptocurrency involves entering into a financial transaction. Therefore, minors may face difficulties in finding platforms or exchanges that allow them to buy cryptocurrencies. It is advisable for minors to seek guidance from their parents or legal guardians and explore alternative investment options until they reach the legal age to engage in cryptocurrency transactions.
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• GoldgomNov 20, 2024 · 8 months ago
  As an expert from BYDFi, I can tell you that there are indeed restrictions for minors buying cryptocurrency. Minors are not allowed to create accounts or engage in trading activities on our platform. This is in compliance with legal regulations and our commitment to ensuring a safe and secure trading environment. However, there may be other platforms or exchanges that have different policies regarding minors. It is important for minors to research and understand the restrictions and requirements of each platform before attempting to buy cryptocurrencies.
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