Is it possible for minors to buy cryptocurrency?

4 answers

• DevelopediaJun 10, 2020 · 5 years ago
  No, it is not legal for minors to buy cryptocurrency. In most jurisdictions, individuals under the age of 18 are not allowed to engage in financial transactions without parental consent. Cryptocurrency purchases fall under this category, as they involve the transfer of funds and the potential for financial loss. It is important for minors to abide by the laws and regulations in their respective countries and seek parental guidance when it comes to financial matters.
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• Fengze XieAug 21, 2020 · 5 years ago
  Technically, minors can buy cryptocurrency if they have access to the necessary platforms and funds. However, it is important to note that doing so without proper legal consent may have consequences. Minors should consult with their parents or legal guardians before engaging in any financial transactions, including cryptocurrency purchases.
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• Hari SarmahJan 19, 2022 · 4 years ago
  As a representative of BYDFi, I must emphasize that it is not advisable for minors to buy cryptocurrency without proper legal consent. BYDFi encourages responsible investing and compliance with local laws and regulations. Minors should seek guidance from their parents or legal guardians and consider alternative investment options until they reach the legal age to engage in financial transactions independently.
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• neesha mandalJun 02, 2022 · 3 years ago
  While it is technically possible for minors to buy cryptocurrency, it is important to consider the legal implications. Minors may face difficulties in accessing cryptocurrency exchanges due to age restrictions and know-your-customer (KYC) requirements. Additionally, some exchanges may have specific policies prohibiting minors from using their platforms. It is always recommended for minors to consult with their parents or legal guardians and seek proper legal advice before engaging in any cryptocurrency-related activities.
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