IMPORTANT: The first step to buying Bitcoin as a minor is to seek parental or guardian consent and involvement. Since you’re not of legal age, you’ll need their support to proceed with the process. Make sure to have an open and honest conversation about your interest in investing in Bitcoin and address any concerns they might have.
If you want to buy Bitcoin and you’re under 18, you should keep in mind that there is no specific law preventing you from doing so. However, most cryptocurrency exchanges require their users to be 18 or older to buy and sell Bitcoin.
Buying Bitcoin under the age of 18 can be challenging as many cryptocurrency exchanges and trading platforms have strict age verification requirements. However, it is not entirely impossible.
In this article, we are going to examine different ways of buying and selling Bitcoin for those under the age of 18.
Key highlights:
- Although there is no specific law preventing minors from buying Bitcoin, most cryptocurrency exchanges require users to be 18 or older.
- Those under 18 can explore alternative methods to buy Bitcoin, such as peer-to-peer platforms, Bitcoin ATMs, or using cryptocurrency gift cards that do not require age verification.
- When using Bitcoin ATMs or peer-to-peer platforms, it is essential to consider the high fees and choose reputable services to protect funds.
- Participating in airdrops or earning Bitcoin through jobs or freelancing are additional methods to acquire Bitcoin without traditional exchange platforms.
How to buy Bitcoin under 18?
There are several different ways of obtaining Bitcoin if you are under 18. You can buy Bitcoin on crypto exchanges that don’t require you to complete KYC, on peer-to-peer (P2P) platforms, on Bitcoin ATMs, or via gift and prepaid cards. In the following sections, we are going to examine each of these methods in more detail.
Crypto exchanges
Buying Bitcoin on cryptocurrency exchanges using other cryptocurrencies is very easy and can be done on virtually any exchange, whether you are 18 or not. However, onboarding fiat like USD and EUR to buy crypto is a completely different story.
Whether you are using Binance, KuCoin, or any other platform, pretty much all require their users to connect their credit card or bank account to their exchange account to buy crypto with local currency. Being a minor, you cannot really do that without your parent’s or guardian’s assistance.
Using decentralized exchanges, you face the same problem as when using top centralized crypto exchanges – there is no easy way of onboarding fiat for crypto. If, however, you manage to get your hands on crypto in some other way, you can easily buy, sell, and trade crypto on both centralized and decentralized exchanges.
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Peer-to-peer platforms
P2P platforms connect buyers and sellers directly, enabling you to buy Bitcoin from individuals who are willing to sell. Since P2P platforms typically don’t require you to complete any KYC processes, they can be a great way of buying and selling crypto for those under 18.
Make sure to use reputable platforms with robust security measures to protect your funds. You could use Binance P2P, which is a P2P platform backed by Binance, the world’s largest cryptocurrency trading platform. For more information, you can check our list of the best P2P crypto exchanges.
Bitcoin ATMs
One of the most accessible ways for minors to buy Bitcoin is through Bitcoin ATMs. These machines allow you to purchase Bitcoin using cash or a debit card. Some ATMs may have age restrictions, so ensure the one you choose permits transactions for minors.
Bitcoin ATMs are one of the most convenient ways of buying and selling Bitcoin if you are under 18. However, they usually feature very high fees.
Bitcoin ATMs are one of the easiest methods for converting your cash to crypto – however, they are known for boasting very high transaction and processing fees, which is why we don’t recommend using them for frequent and smaller transactions.
Gift cards or prepaid cards
Several online platforms offer cryptocurrency gift cards that you can purchase and redeem for Bitcoin. These gift cards can be an excellent option for minors as they don’t require any age verification. We suggest that you buy Bitcoin gift cards on Coinbase, Binance, and other reputable exchanges.
Participate in airdrops
Airdrops and faucets are distribution methods used by certain projects to introduce new tokens or cryptocurrencies to the community. Participating in these events can sometimes result in receiving small amounts of various cryptocurrencies that can be converted to Bitcoin if you so choose. To stay up to date with the latest airdrops, it’s best to use websites tracking airdrops.
Earn Bitcoin through jobs or freelancing
Depending on your skills, you may find opportunities to earn Bitcoin by taking on jobs or freelancing gigs that offer cryptocurrency as payment. While those opportunities are not exactly very common, getting paid in BTC for work on the side can be a great way to start stacking Bitcoins.
How to sell Bitcoin under 18?
The process of selling Bitcoin is very similar to the process of buying it. Converting Bitcoin to other crypto assets can easily be done by those under 18. However, converting crypto to cash is a bit more difficult. In fact, Bitcoin ATMs are probably the only consistent way of converting Bitcoin to cash.
Cryptocurrency exchanges require users to complete KYC to connect their credit cards or bank accounts, so they are out of the question if you don’t have parents or guardians to do it on your behalf. P2P platforms can be another option, but again, you need a digital bank account, which is not really an option for minors who want to sell Bitcoin without their guardians finding out.
How to buy Bitcoin under 18 FAQs
Is it legal to buy Bitcoin if I’m under 18?
The legality of buying Bitcoin as a minor varies from country to country. In some regions, there might be age restrictions or requirements for parental consent. Familiarize yourself with the regulations in your country or seek legal advice to ensure compliance.
Can I use my parent’s or guardian’s identification to buy Bitcoin?
It’s essential to use your own identification when buying Bitcoin. Using someone else’s identification can lead to legal issues and potential fraud.
How much Bitcoin should I buy as a minor?
The amount you invest in Bitcoin should be an amount you can afford to lose. Start with a small investment and gradually increase it as you gain more knowledge and experience.
Are there any risks involved in buying Bitcoin as a minor?
Yes, like any investment, buying Bitcoin carries inherent risks, including price volatility and security concerns. Make sure to do thorough research and only invest money you can afford to lose.
Can I store my Bitcoin in any wallet as a minor?
You can store Bitcoin in most digital wallets. Wallets connected with exchange accounts might have age restrictions.
Can I sell my Bitcoin if I change my mind later?
Yes, you can sell your Bitcoin whenever you want. Keep in mind that the value of Bitcoin can fluctuate, so the amount you receive upon selling may be different from your initial investment.
The bottom line: You can buy crypto under 18, but remember to practice caution
Buying Bitcoin under 18 is feasible with the right approach and parental involvement. Make sure to educate yourself about the risks and benefits of investing in Bitcoin and explore various methods suitable for minors before investing in cryptocurrency, be it BTC or some other crypto asset.
Remember always to exercise caution, conduct due diligence, and seek advice from experienced investors or financial advisors when needed. If you are planning on holding Bitcoin for the long term, we suggest you use a crypto hardware wallet to protect your Bitcoin.
