When you want to earn money, you talk to many people and search for how you can earn money and which method is best. Since cryptocurrency is also a method by which you can earn money, the question now is, “What is cryptocurrency?”
What is Crypto Currency?
A cryptocurrency, also referred to as “crypto currency,” is a form of electronic currency that is designed to function as a means of exchange via a network of computers and is not dependent on a single centralized entity, such as a financial institution or government, for maintaining or upholding it.
It is an online system for confirming that both sides of a process have the amount of money they say they have, removing the need for conventional intermediaries like banks when cash is exchanged between two businesses.
Under 18 Age: What to Do Next
If you are under the age of 18, you may be asking whether it is allowed or unlawful to purchase cryptocurrency. In most nations, there is no explicit regulation that makes purchasing cryptocurrency while under the age of 18 forbidden.
Yet, many of the best digital currency exchanges have their own rules that prohibit those under the age of 18 from signing up and purchasing cryptocurrency.
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The good news is that certain cryptocurrency exchanges do not require identification, so you can buy cryptocurrency even if you are under the age of 18.
However, you should consider the risks of purchasing cryptocurrencies because they are highly volatile assets that can cause you to lose your entire investment overnight. Before making any investments, if you are under 18, you should discuss it with your parents.
Do your research, and never invest more money than you can afford to lose? Keep in mind that the content on this website is purely educational and is not designed to provide financial advice.
The next question that arises in most people’s minds is: “How to buy cryptocurrency under 18?”
There are some ways in which you can buy cryptocurrency under the age of 18:
- Bybit is the best cryptocurrency exchange for people under the age of 18.
- MEXC: The United States is the best place to acquire cryptocurrency if you’re under the age of 18.
- Weex: is the best option for fee-free spot trading, margin market depth, and copy trading.
By Bit
The best cryptocurrency exchange for people under the age of 18 is Coinbase. Moreover, it is a worldwide platform with over 10 million members and a daily trade volume of over $10 billion. You may quickly purchase cryptocurrency with a credit/debit card, a transfer from your bank, or through Google Pay or Apple Pay.
There are a few coins that may be purchased with real money, particularly the top-selling ones like ETH, Bitcoin, and USDT. If you wish to use all Bybit’s 280+ coins, you can purchase USDT and then exchange it for the coin of your choice.
The transaction costs on Bybit are low and at only 0.1 percent for spot trading, allowing you to immediately obtain the cryptocurrency you
Pros
- The minimum deposit needed is low.
- There are no initial fees.
- They provide a free trial membership.
- Dealing with situations that are clearly defined.
- Live chat assistance is available around the clock.
- You can acquire cryptocurrency even if you are under the age of 18.
Cons
- Unless you use a VPN, it is not available in the United States.
- Just Bitcoin is recognized as the starting point currency.
- There are just a few cryptocurrency techniques to choose from.
Mexc
For individuals who desire to do much more than simply acquire cryptocurrency, if you wish to engage in trading to increase your profits, MEXC’s Copy Trading tool is a beautiful place to start. If you need more trading experience, this will help get the process started. You can choose an expert trader to emulate, and MEXC will assist you in making identical trades as that individual. You can learn how to create cash investments without having to monitor the markets or execute your research.
Pros
- About 1,500 cryptocurrencies are recognized.
- Numerous kinds of payments are accepted.
- Purchase cryptocurrency using a considerable/credit card, Google Pay, Samsung Pay, or Apple Pay.
- Fees for spot trading are 0.0–0.1%, and those for futures are 0.0–0.03%.
- Copy trading is supported, allowing you to discover how to make investments by imitating the best investors.
Cons
- There are only a small number of cryptocurrencies that can be purchased directly using fiat currency.
- There will be no FIAT withdrawals.
Weex
If you’re looking to do more than just buy cryptocurrency but also trade it, Weex is a fantastic choice. Weex does not demand any form of identification, so you can conduct business anonymously, which is ideal if you are under the age of 18.
For individuals who want to exchange on the spot, Weex doesn’t impose any fees, regardless of whether you are a producer or a taker! Because you do not contribute any sort of fee to the exchange, this is a terrific approach to optimizing your profits. Furthermore, Weex’s liquidity is exceptionally high, much higher than MEXC and Bitget, so you have no concerns regarding your orders being filled, whether you make tiny or huge deals.
Pros
- Fee-free spot trading
- Futures trading with minimal charges (0.02/0.06%)
- High liquidity with little slippage
- Several regulatory licenses are held around the world.
- Duplicate expert traders with a single click
Cons
- It is not possible to buy cryptocurrency directly with fiat currency.
Wrap up
So here you can see that even teenagers can buy cryptocurrency, so there is no question remaining about how to buy cryptocurrency under 18—even though nowadays teenagers can also make investments in cryptocurrency. Moreover, there are no current laws prohibiting teenagers or youngsters from purchasing or trading cryptocurrency.
