How old do you have to be to buy crypto? – Best Guide for Teenagers

Investors of all ages are interested in cryptocurrency, because of the recent crypto bull run or the demise of FTX. But whatever your motivations for wanting to invest in Bitcoin or Ether, you indeed have questions about How old do you have to be to buy crypto?

Let’s begin our talks with Age Restrictions on cryptocurrency exchanges.

Are Cryptocurrencies Restricted to Certain Ages?

Using cryptocurrencies requires practice and perseverance because they are relatively new ideas. But given that cryptocurrencies are financial instruments, it’s unsurprising that they have adopted some of the standard procedures used in the conventional financial industry. That is precisely what the crypto community has done about age restrictions. 

There is no minimum or maximum age to invest in securities; anyone can buy cryptocurrency. However, a person must be 18 years old to create an account with a brokerage, a cryptocurrency exchange, or a traditional bank; anyone under 18 requires parental permission. This is because 18 is the minimum age required by law to sign a contract.

How old do you have to be to buy crypto?

Let’s take a look at how the crypto sector operates internationally. Many cryptocurrency exchanges with US roots let users open accounts if they are 18 or older. Anyone under the age of 13 is not eligible. However, those between 13 and 18 are eligible for parental agreement. Users must be at least 18 on a lot of other popular exchanges.

Of course, there are issues with how effectively these procedures are implemented. After all, setting the minimum age at 18 is a Western custom mainly observed in Anglophile nations (such as the United Kingdom, Canada, the United States, Australia, etc.) and is, therefore, not a universal practice. 

There are methods for getting past age restrictions, with Facebook as the best illustration. Facebook does not permit users under 13 to use its site, yet everyone knows that age fraud is possible. But in contrast to Facebook, the banking industry, and to some extent, cryptocurrencies as well, have additional security procedures to guard against violations of its policies.

Should Children Purchase Bitcoin?

When you’re asking this question -How old do you have to be to buy crypto?- probably you would be planning to enter the dynamic world of digital currencies and begin your journey.

Children should not engage in independent cryptocurrency trading. Cryptocurrency is a hazardous and volatile investment that can incur significant losses.

However, kids interested in investing in cryptocurrencies can do so under the supervision and advice of an adult. To give guidance and keep an eye on the investments made by a child, an adult should be present.

Minors should exercise caution and only use the money they can afford to lose if they choose to trade Bitcoin or other assets under the guidance of their parents.

5 Reasons Why Minors Should Purchase Crypto As an Early Investment

Here are several reasons why young people might consider investing in cryptocurrencies. 

1. Low entrance threshold: Anyone with an internet connection can access the cryptocurrency asset class. All you have to do is contact a broker or purchase cryptocurrency directly on a platform like Bybit. 
2. High liquidity: Assets with high liquidity, such as cryptocurrencies, can be easily bought and traded. 
3. Decentralized nature: There is no need for an intermediary or third party in cryptocurrency transactions. You have complete control over your finances thanks to this function.
4. Low transaction costs: Transaction costs for cryptocurrencies are typically substantially lower than those for conventional payment systems. Purchasing cryptocurrency on a cryptocurrency exchange can avoid broker costs and deal directly. 
5. Accessibility: Because cryptocurrencies are available everywhere, they are perfect for sending money abroad. Assets like Bitcoin and Ether made cryptocurrency a good investment for diversification rather than just local cash. More businesses and institutions, like PayPal, began accepting it as payment. 

Conclusion

Hopefully, you’ve got the answer for: How old do you have to be to buy crypto?

Although there are some exceptions, most cryptocurrency exchanges and conventional banks require users to be 18 years old to open an account. Users between 13 and 18 may be allowed on some exchanges with parental consent. Children can invest in cryptocurrencies with adult supervision but should trade with others. 

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