Can minors buy cryptocurrency and if so, what are the restrictions?

3 answers

• Mar 15, 2022 · 3 years ago
  As an expert in the field of cryptocurrency, I can confirm that minors are generally not allowed to buy cryptocurrency. Most cryptocurrency exchanges and platforms have age restrictions in place to comply with legal regulations and prevent underage individuals from participating in such transactions. These restrictions are in place to protect minors from potential financial risks and to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. It is important for parents and guardians to educate and guide minors about the risks and responsibilities associated with cryptocurrency investments.
  633317
• Mar 15, 2022 · 3 years ago
  No, minors cannot legally buy cryptocurrency. Most cryptocurrency exchanges require users to be at least 18 years old to create an account and engage in trading activities. This age restriction is in place due to legal and regulatory requirements, as well as to protect minors from potential financial risks. It is important for parents and guardians to monitor and guide their children's online activities to prevent them from engaging in unauthorized cryptocurrency transactions.
  481161
• Mar 15, 2022 · 3 years ago
  Yes, minors can buy cryptocurrency, but there are certain restrictions in place. For example, BYDFi, a popular cryptocurrency exchange, allows individuals under the age of 18 to create an account and purchase cryptocurrency. However, there are limitations on the amount of cryptocurrency that minors can buy, and they may require parental consent or supervision. It is important for minors to understand the risks involved in cryptocurrency investments and to seek guidance from their parents or guardians before making any transactions.
  537135