Can a minor use a cash app to buy cryptocurrencies?

3 answers

• May 15, 2022 · 3 years ago
  No, minors are generally not allowed to use cash apps to buy cryptocurrencies. Most cash apps require users to be at least 18 years old due to legal and regulatory reasons. This is to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. Minors may need to wait until they reach the legal age to use cash apps for purchasing cryptocurrencies.
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• May 15, 2022 · 3 years ago
  Unfortunately, cash apps typically have age restrictions in place to prevent minors from engaging in cryptocurrency transactions. These restrictions are in line with legal requirements and aim to protect both the platform and the users. Minors may need to explore alternative options or wait until they are of legal age to buy cryptocurrencies using cash apps.
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• May 15, 2022 · 3 years ago
  While it is generally not allowed for minors to use cash apps to buy cryptocurrencies, there may be some exceptions depending on the specific cash app and local regulations. It's important to check the terms and conditions of the cash app in question to see if they allow minors to use their platform for cryptocurrency transactions. However, it's always recommended for minors to seek guidance from a legal guardian or parent before engaging in any financial transactions involving cryptocurrencies.
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