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How to set up bitcoin tradingHow to Buy Bitcoin If You Are Under 18, Legally - Cryptalker
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While neither buying or selling Bitcoins has an explicit age restriction if you buy or sell Bitcoins from a bank account you will be constrained by the age restrictions that may apply.
Part of this verification procedure requires customers to be 18 years of age or older, which can be quite annoying for younger generations looking to venture into the world of Bitcoin. They do not want to get into any trouble with the law, and so they make sure they have appropriate information on their customers. This way they know who is buying what, and can report to the authorities if needed. Allowing underage young people to purchase bitcoin on their platform is a risk that most exchanges are not willing to take because it falls into a grey area.
As technology continues to develop further and further, the surveys found millennials to have a greater interest in cryptocurrency than any other age group.
Teenagers eager to buy bitcoin have a number of options at their disposal. Investing under 18 can be a tough thing to do. There are no [official] age requirements to use this service, although users have to be aware of regulatory measures in the country to make sure they act according to the law.
It is a peer-to-peer marketplace where you can buy BTC from other holders online or in cash. The platform simply finds people looking to sell their digital coins near you, and connects you to that person. You can then do an exchange with this person via Interac, e-transfer, PayPal, or cash deposit. Although, this option is riskier for minors, because it deals with another actual human being. Which is why you may prefer online payment options.
Or make the cash transaction in person, assuming you are escorted by a guardian. But, again, this threshold is probably much higher than the average underage will be planning to buy, anyways. There are currently over 4,bitcoin ATMs in the world, and this number is increasing daily.
They are probably the safest way to get digital assets for anyone underage because it requires no in-person meetups.