Is it possible for minors to buy cryptocurrency and if so, what are the restrictions?

3 answers

• May 05, 2022 · 3 years ago
  Legally, minors are generally not allowed to purchase cryptocurrency. Most cryptocurrency exchanges require users to be at least 18 years old to create an account and engage in trading. This restriction is in place due to legal and regulatory concerns, as well as to protect minors from potential financial risks and scams. However, there may be certain jurisdictions or platforms that have specific rules or exceptions for minors, so it's important to research and understand the laws and regulations in your specific location. It's always recommended for minors to consult with their parents or legal guardians before attempting to engage in cryptocurrency transactions.
  672

  336
• May 05, 2022 · 3 years ago
  No, minors cannot buy cryptocurrency. It's like trying to buy alcohol when you're underage - it's against the law. Cryptocurrency exchanges have strict age verification processes in place to ensure compliance with legal requirements. Additionally, minors may not have the necessary financial resources or understanding of the risks involved in cryptocurrency trading. It's important for young individuals to focus on their education and financial literacy before considering any investments or financial activities.
  515

  172
• May 05, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that our platform strictly adheres to the legal requirements and regulations regarding the purchase of cryptocurrency by minors. We have implemented robust age verification processes to prevent underage users from accessing our services. Minors are not allowed to create accounts or engage in trading activities on our platform. We prioritize the safety and protection of our users, especially minors, and encourage them to wait until they reach the legal age to participate in cryptocurrency transactions.
  550

  138