“No-KYC exchanges” are platforms that do not ask for your identity documents (like a passport or ID card) when you sign up or for small transactions. KYC stands for “Know Your Customer,” and it is a process banks and safest crypto exchanges use to check who their users are. 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. There are several different ways of obtaining Bitcoin if you are under 18.
- However, it’s important to note that some ATMs do have age restrictions, so be sure to check the requirements before using one.
- Keep in mind that gift card exchanges may involve transaction fees, as well as potential differences in the exchange rate.
- The same approach should be considered when the minor wants to sell Bitcoin for cash, as KYC exchanges will not permit underage accounts.
- KuCoin supports users from over 200 countries and regions, with over 20 languages.
- Kucoin is one of the best cryptocurrency exchanges that allows you to buy, sell, and trade Bitcoin, Ethereum, and 700+ altcoins.
- With privacy at the forefront, users can take advantage of all CoinEx products without needing to submit KYC documentation.
Upon her friend’s recommendation to invest in Bitcoin in 2015, she became interested in all things crypto. When she is not writing reviews or guides about DeFi and other crypto products and services, Emma prefers to spend her time in the company of her friends and family.
Good Password Ideas and Tips for Secure Accounts
KuCoin is a market-leading trading platform that allows investors to purchase over 700 different cryptocurrencies. It is therefore one of our best picks for those under 18 looking to invest in a wide range of altcoins. For those under 18, account verification on KuCoin is optional, which means that cryptos can be purchased and traded with just an email or phone number. KuCoin users can purchase different altcoins through spot markets, the P2P platform, or the platform’s Fast Trade module. There are several ways to purchase cryptocurrencies through the KuCoin exchange.
You can use many payment methods, such as Google Pay, Apple Pay, Bank transfer, or credit cards. One of the most common methods for buying bitcoin is through a bitcoin exchange. Bitcoin exchanges are online platforms that allow users to buy and sell bitcoin using different fiat currencies or other cryptocurrencies. While buying bitcoin with gift cards can be a convenient option, it’s essential to exercise caution and ensure you are using a reputable platform. Research the platform’s reputation, check user reviews, and only trade with verified sellers to minimize the risk of scams or fraudulent activity.
- For more details on the best crypto wallets to use, read our guide.
- Many online platforms and marketplaces allow users to exchange gift cards for bitcoin, providing a convenient method for acquiring cryptocurrency.
- A bitcoin wallet acts as a digital wallet for storing your bitcoin securely.
Best Wallet for Teens
It supports over 350 digital assets, including BTC, ETH, and other popular altcoins. You can buy over 420 cryptocurrencies, such as Bitcoin, Ethereum, Cardano, and more. Bybit also has a mobile app that lets you trade anytime and anywhere.
Peer-to-peer platforms
Some ATMs may allow small purchases without KYC, but this still doesn’t make it legal for underage users. Airdrops, crypto games, and faucet sites also offer small amounts of crypto. You can also earn by doing freelance work and getting paid in crypto.
These platforms connect buyers and sellers directly, allowing you to purchase bitcoin from individuals who are willing to sell it. P2P marketplaces often have age verification measures in place, which may require you to provide proof of identity or undergo a verification process. We have compiled a list of crypto exchanges that do not require ID. While these exchanges state users must be over 18, they also do not ban underage investors by mandating ID verification for all accounts. Therefore, these exchanges should be used by a parent or guardian on behalf of the minor.
We compared decentralized platforms, peer-to-peer apps, and no-KYC wallets. You’ll learn what works, what’s risky, and how to avoid mistakes. Yes, like any investment, buying Bitcoin carries inherent risks, including price volatility and security concerns.
If you’re younger than 18 and want to buy cryptocurrency, you can do it with the help of a parent or older sibling. They can get your coins with their crypto account and send them to your crypto wallet. It also uses cold storage, 2FA, and anti-phishing codes to protect your account and assets. You can use GT to pay fees, join startup projects, and get other benefits on the platform.
Why Buying Bitcoin Under 18 Is Challenging
Almost all crypto exchanges require users to be at least 18 years old. This rule is based on laws that prevent minors from signing legal agreements. 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. Remember, it’s crucial to conduct thorough research and due diligence when using a P2P bitcoin marketplace.
Using Decentralized Exchanges
Although cryptos can be securely stored on an exchange’s internal wallet, it is best practice to send cryptocurrencies to a personal crypto wallet that provides complete control. Also known as a non-custodial wallet, these wallets can either be software-based, such as desktop or mobile applications, or hardware-based, such as USB memory sticks. For more details on the best crypto wallets to use, read our guide. Adolescence is the best time to learn new things, and that includes learning the basics of cryptocurrency finance. After all, an inexperienced novice can make trouble and lose money on his own. That is why it is better to turn to safe and trustworthy platforms with the guidance of an adult.
Step 5 – Send crypto to a non-custodial wallet
The world-leading platform does not require How to buy bitcoin under 18 KYC verification to make spot purchases and provides a safe, secure, and clean environment to start building a crypto portfolio. According to data collected by Stilt, 17.40% of all cryptocurrency transactions are completed by those from Generation Z (currently aged between 18-24). Note that the payment method will vary depending on the cryptocurrency being purchased. Remember to check which payment methods are available for the crypto of interest. You need to choose one of the decentralized cryptocurrency wallet options to open a cryptocurrency wallet.
Once on the Fast Trade webpage, select a fiat currency from the drop-down menu on the right and enter the amount to spend. This information is general in nature and is for educational purposes only. Hedge With Crypto does not provide financial advice, nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.
You have several options to buy cryptocurrency if you’re under 18. Firstly, your parent or guardian can purchase coins for you and send them to your crypto wallet via their crypto account with permission. Alternatively, you can use Bitcoin ATMs to buy crypto with cash or a debit card. You can also swap gift cards for crypto through platforms like BitPay and P2P platforms like Paxful.
These ways may charge more, have fewer trading pairs, or have more risks than a regulated, centralized crypto exchange. You may lose money through scams, fake platforms, or failed transactions. Most legal exchanges ban underage users, so you may get locked out of your account. 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.
As a minor, it’s important to ensure that you adhere to the age restrictions set by the platform. LocalBitcoins, for example, requires users to be at least 16 years old. There are many methods to consider when buying and selling crypto for underage users. However, according to our research, we believe using centralized crypto exchanges can be the safest and fastest way to protect you from hacking and phishing in the crypto space. Buying Bitcoin under 18 is feasible with the right approach and parental involvement.
This means you keep full control of your assets, and you do not need to go through a KYC process. The process usually involves scanning a QR code from your crypto wallet, inserting cash, and then the Bitcoin is sent to your wallet. Some Bitcoin ATMs might ask for a phone number verification, but not always a full ID, especially for smaller amounts. After buying, it’s important to manage your crypto assets responsibly.