Can minors legally engage in cryptocurrency transactions?

3 answers

• Akshat SharmaDec 15, 2023 · 2 years ago
  No, minors are generally not allowed to engage in cryptocurrency transactions due to legal restrictions. Cryptocurrency transactions involve financial risks and require individuals to be of legal age to enter into contracts. Minors may not have the legal capacity to fully understand the risks involved or make informed decisions regarding their investments. It is important for minors to seek guidance from their legal guardians or parents before engaging in any cryptocurrency transactions.
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• endlessroamDec 10, 2020 · 5 years ago
  Legally speaking, minors are not permitted to engage in cryptocurrency transactions. The age of majority varies by jurisdiction, but in most places, individuals under the age of 18 are considered minors. Cryptocurrency transactions often involve complex financial concepts and risks, which may not be suitable for individuals who are not of legal age. It is advisable for minors to wait until they reach the age of majority and have a better understanding of the risks involved before participating in cryptocurrency transactions.
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• ObsidianpineappleSep 14, 2023 · 2 years ago
  According to BYDFi, a leading cryptocurrency exchange, minors are not allowed to engage in cryptocurrency transactions on their platform. This is in line with legal requirements and industry standards to protect minors from potential financial risks. It is important for minors to focus on their education and seek guidance from their legal guardians or parents before considering any involvement in cryptocurrency transactions. BYDFi encourages responsible investing and compliance with applicable laws and regulations.
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