Why is it necessary to be 18 years old to buy crypto?

4 answers

• Ahmad FaisalMar 16, 2024 · a year ago
  The age restriction of 18 years old to buy cryptocurrency is mainly due to legal and regulatory concerns. Cryptocurrency transactions involve financial risks, and governments want to protect young individuals from potential scams and financial losses. Additionally, being 18 years old is often considered the legal age of adulthood in many countries, and individuals at this age are deemed responsible enough to make informed financial decisions.
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• Muhammad Qasim ZeeDec 07, 2020 · 5 years ago
  Well, you know, it's all about regulations and stuff. Governments want to make sure that young people don't get into trouble with their hard-earned money. I mean, let's face it, crypto can be a bit risky, and they want to protect the youngsters from scams and all that. So, they set the age restriction at 18. It's like saying, 'Hey, you gotta be a grown-up to play with this stuff.'
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• Sabrina Solange Ruiz DiazSep 27, 2020 · 5 years ago
  The age restriction of 18 years old to buy cryptocurrency is a common practice in the industry. It is implemented to comply with anti-money laundering (AML) and know your customer (KYC) regulations. These regulations aim to prevent illegal activities such as money laundering and terrorist financing. By verifying the age of users, cryptocurrency exchanges can ensure compliance with these regulations and maintain a secure and transparent trading environment.
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• John.Yuen.WongMay 17, 2021 · 4 years ago
  As an expert in the cryptocurrency industry, I can tell you that the age restriction of 18 years old to buy crypto is necessary to comply with regulatory requirements. It helps prevent fraudulent activities and protects both users and the integrity of the cryptocurrency market. At BYDFi, we take these regulations seriously to provide a safe and reliable trading platform for our users.
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