Is it possible invest in crypto under 18? Do you want to be a part of the community that shapes money and technology at an early age? Yes, you teenagers! I am with you!
Everyone has the right to participate in the crypto and enjoy its revenue. After the rise of cryptocurrency, even teenagers consider joining the market and starting their trading career earlier. But do you know that you can invest in crypto under 18?
Are there any age limits or special rules about it? If you have these questions on your mind and it is stopping you from buying crypto under 18, do not fret! You will find all your answers, and we will clarify all the vague points about this topic in this section.
Are you ready to become a crypto-savvy teen? Do you want to know how to invest in crypto if you are under 18?
If you don’t, let’s get into it.
How To Invest in Cryptocurrency Under 18?
Can you buy and sell cryptocurrencies if you are under 18? Well, guess what? You can! Cryptocurrency, the digital currency taking the world by storm, is more accessible than ever, even for teens like you.
This part shows how to invest in this market, start trading, or even be a holder. If you are looking for some reliable crypto platforms that offer services to teenagers, you can check the list below:
Easy-To-Use & Safe Crypto Platforms Designed Just for Teens
Do you know what are the most popular ways to buy cryptocurrencies for teenagers?
The following section is filled with the platforms in which the 13- to 17-year-old teens can use:
1. Coinbase Custody Trust
Coinbase, a popular crypto exchange, offers a custodial solution called Coinbase Custody Trust for teens interested in investing in the crypto market. With their parents’ permission, teens ages 13 to 17 can invest in over 30 cryptocurrencies and trade up to $50,000 daily.
2. FTX US Custody
FTX US Custody is a U.S.-based platform for teens to trade 25 cryptocurrencies. After getting their parents’ permission, teens can start creating their crypto portfolios with the help of an adult co-signer.
3. Gemini Custody
The Gemini platform gives teens access to a wide variety of 33 cryptocurrencies. But you, as a teenager, must know that you must get the help of an adult co-signer to build your portfolios.
These are safe and easy platforms where teens can explore the world of crypto and learn about finances.
Besides these platforms, there are other ways that a teen can enter into this exciting world and start trading! Do you know where to buy crypto under 18 besides the ones mentioned here?
What if you want to buy or sell crypto? Do you know how to do them? Let’s explain more.
How To Buy & Sell Crypto Under 18?
You can follow the steps here and start your trading career, but be aware that, as a teenager, there are so many things that you have to learn before investing.
You have to invest or buy crypto only if you can take the loss and do not go after huge trading at the beginning when you are somehow numb in this market.
Look at the steps below to find out how to buy and sell crypto under 18:
· Choose a Custodial Account
Select a reputable custodial platform among the ones that we mentioned above. These platforms allow parents to open accounts on behalf of their underage children, providing teenagers with access to cryptocurrency without direct involvement.
· Parental Approval and Creation of the Account:
Parents must provide their identification and other necessary information to create the custodial account. They will also need to grant permission to their teen to access and manage the account.
Funding the Custodial Account
As the parents, you can fund the custodial account using your funds. After the account is funded, parents can purchase cryptocurrency on behalf of their teen.
Secure Crypto Storage
Choose a reliable cold or hardware wallet to store your cryptocurrency safely. Cold wallets are physical devices that disconnect from the internet, minimizing the risk of hacking and theft.
It’s crucial to understand the concept of wallets. They are secure digital vaults that store your crypto keys.
We have two types of them:
1. Hot Wallets
Imagine hot wallets as your everyday wallet! It is always ready to use. However, their online connection exposes them to potential security risks. While convenient for quick transactions, hot wallets like Coinbase’s online platform require caution to safeguard your crypto assets.
2. Cold Wallets
If you, as a teenager, are looking for a more secure option, Cold wallets are your answer! Like a safe tucked away in your home, cold wallets are offline and disconnected from the internet, diminishing the chances of hacking.
Parental Supervision for Trading
Teens can buy and sell cryptocurrency using the cold wallet under parental supervision. Parents can guide them through the process, making sure they make informed trading decisions.
Buying Cryptocurrency
Teens can purchase cryptocurrency using the established cold wallet. They can use the same exchange their parents used or explore other options with better rates.
Selling Cryptocurrency
When selling cryptocurrency, teens can connect with buyers through various platforms. Once an agreement is reached on the price, the crypto can be transferred to the buyer’s wallet, and the proceeds will be deposited in the teen’s account.
Continuous Learning and Research
Make sure that you learn and research continuously as the market is evolving daily, so to stay updated on market trends, cryptocurrencies, and potential risks; you need to do double the hard work.
Start with Small Investments
Due to cryptocurrency volatility, starting with small investments and gradually increasing the amount as you gain experience and confidence is advisable.
Seek Parental Guidance
You are at the beginning of the road; you might not have enough experience and proper market sentiment (as so many professionals do not have!). So, teenagers should consult their parents for further advice and support in making informed investment decisions.
Now that you know how to buy and sell crypto under 18, do you know how much money you should invest in this market?
How Much Crypto Should Teenagers Invest Based on Their Financial Situation?
As a teenager, you might not have substantial disposable income to invest. However, if you’re eager to explore the world of cryptocurrency, consider starting with a small investment of no more than $300 to $500, if available.
This amount can be used to purchase a fraction of established cryptocurrencies like Bitcoin or Ethereum, allowing you to gain experience in the crypto market.
Explore the bigger picture by diving into our article on “How Much to Invest in Crypto Per Month?”.
Closure
Do you know how to invest in crypto under 18? If you are looking into it, this comprehensive guide is for you. You can have a general overview of how to buy crypto when under 18.
As a teen, you must know it’s wise to approach crypto investments cautiously and start with small amounts.
Finally, let us know your thoughts on investing in cryptocurrency as a teen. What strategies have you found effective? What challenges have you encountered?
Share your insights and experiences, and help others navigate this exciting new frontier.