Regardless of your age, you should have heard about bitcoin and other cryptocurrencies promising to change the way we use money. Not only is their goal to modernize how we buy and sell, but they also offer a stable, more reliable method of exchange. But how old do you have to be to be a part of the game? Find out in the lines below.
The law says that you can buy any number of bitcoins you desire as long as you have finances to support the venture and years to speak of your maturity. In a nutshell, the legal minimum implies you have at least 18 years to trade Bitcoin and other cryptocurrencies, but the catch is that numerous individuals realize the potential of the crypto-market and are willing to become a part of the crypto-frenzy even though they are legally ineligible due to age restrictions.
Now, even though there are ways to buy some cryptocurrencies even if you have not reached 18, we do not advise you to engage in any illegal activity, but to find alternative means that would include your adult sibling, parent, or guardian who could make the transaction for you. In case you are underage and reckon your actions are unimportant, just remember that time when Rick Scott’s consultant assaulted a mannequin with an ice penis for fun and had to deal with numerous consequences afterward to clear his name.
The most secure way for you to purchase a cryptocurrency is by using Bitcoin ATMs since a buyer does not need to confirm his age unless they engage in large transactions. Even though you can bypass that obstacle by using different ATMs on different occasions we suggest you ask for the assistance of an adult that would gladly give you a hand and encourage you on your endeavor.
Besides the fact you can only buy a limited amount of cryptos via ATM
s, the downside of utilizing this approach is that the fees are usually larger than the with ones imposed by alternative methods. On the other hand, this practice is considered to be the safest way to purchase Bitcoins so paying a bit extra for a secure transaction might not be a bad decision.
A crypto-trading activity you can also participate in, regardless of how many years you might have, implies you trade with third-party members from all over the world. We should emphasize that markets of this type are not envisaged to be places for minors to participate in, even though identity confirmation might not be a prerequisite to becoming a part of the platform.
If that sounds attractive, consider you might be engaging in financial transactions with who-knows-whom, and carefully assess whether the venture you are about to go on is worth the risk of dealing with potential fraudsters.
Hopefully, the aforementioned pieces of information will prove their usefulness in any future ventures regarding cryptocurrencies you might undertake. Above all, we urge you not to break the law but ask an adult from your family for assistance in Bitcoin acquisition. Be aware that buying crypto is not the end of a journey, since you would probably have to confirm your age when you decide to sell, as well. Thus, play safe and involve someone you can trust and do things legally.