Can someone under 18 use a parent's account to buy crypto?

3 answers

• Kemp FogedSep 14, 2022 · 3 years ago
  Legally, it depends on the jurisdiction. In some countries, individuals under 18 may not be allowed to engage in financial transactions, including buying cryptocurrencies. It's important to consult local laws and regulations to determine the legality of such actions. Practically, even if it's allowed, it's generally not recommended for minors to use their parent's account without explicit permission and supervision. It's crucial to educate young individuals about the risks and responsibilities associated with cryptocurrency investments.
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• Stephanie FortneyJun 01, 2023 · 3 years ago
  No, it's not advisable for someone under 18 to use their parent's account to buy crypto. While it might be technically possible, it can lead to legal and financial complications. Minors may not fully understand the risks involved in cryptocurrency investments and may make uninformed decisions. Additionally, using someone else's account without permission is a breach of trust and can strain relationships. It's better for young individuals to wait until they are of legal age and have a good understanding of cryptocurrencies before venturing into the market.
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• TheSC4May 02, 2021 · 5 years ago
  As an expert in the cryptocurrency industry, I would advise against someone under 18 using their parent's account to buy crypto. It's important for young individuals to have their own accounts and take responsibility for their own investments. By using their parent's account, they may not fully understand the process and risks involved. It's better to wait until they are of legal age and can make informed decisions independently. At BYDFi, we prioritize the safety and education of our users, and we encourage young individuals to learn about cryptocurrencies responsibly.
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