Are there any restrictions or requirements for minors to buy crypto?

3 answers

• kai-squareMay 16, 2021 · 4 years ago
  Yes, there are certain restrictions and requirements for minors to buy crypto. Minors are generally not allowed to engage in financial transactions without the consent of their parents or legal guardians. This means that they would need permission from their parents or guardians to buy cryptocurrencies. Additionally, some countries have specific age restrictions for buying cryptocurrencies, and minors would need to comply with these regulations. It is important for minors to understand the legal requirements and seek guidance from their parents or legal guardians before attempting to buy crypto.
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• Sukhdev SinghMar 08, 2024 · a year ago
  Buying crypto as a minor can be challenging due to the legal restrictions and requirements in place. Minors are often required to have a custodial account, which is managed by a parent or legal guardian. This account allows the minor to buy and hold cryptocurrencies under the supervision of their guardian. Additionally, some exchanges may have their own age restrictions and verification processes to ensure compliance with regulations. It is important for minors to research and understand these requirements before attempting to buy crypto to avoid any legal issues or complications.
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• Madhav ShuklaMay 10, 2024 · a year ago
  As an expert in the crypto industry, I can confirm that there are restrictions and requirements for minors to buy crypto. Minors are generally not allowed to open their own trading accounts on most exchanges. However, there are some exchanges that offer custodial accounts specifically designed for minors. These accounts require parental consent and supervision. Minors can buy and hold cryptocurrencies through these custodial accounts, but they may have limited access to certain features and trading options. It is important for minors and their parents to choose a reputable exchange that offers custodial accounts and complies with legal regulations.
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