Can minors buy cryptocurrency?

3 answers

• goosebumpsMar 31, 2024 · a year ago
  No, it is generally not legal for minors to buy cryptocurrency. Most countries have age restrictions in place for purchasing cryptocurrencies due to concerns about financial responsibility and potential risks. Minors are often not considered legally capable of entering into financial contracts and may not have the necessary knowledge or experience to make informed investment decisions. It is important for parents and guardians to educate minors about the risks and responsibilities associated with cryptocurrencies.
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• s.gerDec 20, 2022 · 3 years ago
  While it is not recommended for minors to buy cryptocurrency, there are some platforms that allow it with parental consent. These platforms may have additional verification processes and restrictions in place to ensure compliance with local regulations. However, it is important to note that investing in cryptocurrency carries risks, and minors should always seek guidance from a trusted adult before making any financial decisions.
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• Hays MelgaardNov 15, 2022 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, minors are not allowed to create accounts or purchase cryptocurrencies on their platform. This policy is in line with industry standards and regulatory requirements to protect minors from potential financial harm. It is important for minors to wait until they reach the legal age and have a better understanding of the risks and responsibilities associated with cryptocurrency investments.
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