Is it possible for minors to buy crypto?

3 answers

• Craft LindholmMar 16, 2022 · 3 years ago
  No, it is generally not possible for minors to buy cryptocurrencies. Most cryptocurrency exchanges require users to be at least 18 years old to create an account and make transactions. This age restriction is in place due to legal and regulatory requirements, as well as to protect minors from potential financial risks. However, there may be some platforms or services that allow minors to buy cryptocurrencies with parental consent or through custodial accounts. It is important for minors to understand the risks involved and consult with their parents or legal guardians before engaging in cryptocurrency transactions.
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• Cadnaan FarxaanMay 06, 2024 · a year ago
  Unfortunately, minors are not allowed to buy cryptocurrencies on most exchanges. This is because cryptocurrency transactions involve financial risks and legal responsibilities that minors may not fully comprehend. Additionally, exchanges have to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which require verifying the identity and age of users. Therefore, it is advisable for minors to wait until they reach the legal age and have a better understanding of the cryptocurrency market before considering buying cryptocurrencies.
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• MagnoliabrickOct 17, 2023 · 2 years ago
  As an expert from BYDFi, I can confirm that minors are generally not allowed to buy cryptocurrencies on most exchanges. This is to ensure compliance with legal and regulatory requirements, as well as to protect minors from potential financial risks. However, there may be some platforms or services that offer special accounts for minors, allowing them to buy cryptocurrencies with parental consent. It is important for minors and their parents to research and choose reputable platforms that prioritize security and compliance. Remember, investing in cryptocurrencies carries risks, and it is crucial to make informed decisions and seek professional advice if needed.
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