Hi, young crypto enthusiasts! You’re interested in Bitcoin and ready to start trading, but one question keeps crossing your mind—can I even trade Bitcoin if I’m under 18? The good news is that you are not alone in wondering! Let’s take a deep dive into whether you can start your crypto journey now, plus some of the Bitcoin trading apps for minors that may make it possible.
The Age Factor: Why It Matters
First of all, there’s the question of the age barrier, which is essential in financial matters. Most online Bitcoin trading options for teenagers and exchanges require users to be at least 18 years old. They do not see this as a random age barrier but are mostly concerned with regulation and responsibility. Yes, financial platforms have legal obligations, and managing funds responsibly is not something governments want young people to rush into.
But, in all seriousness, age has nothing to do with one’s knowledge—actually, some new crypto traders under the age of 18 are quite knowledgeable. Thus, for those under 18 wanting to dive into the world of cryptocurrency trading for minors, there are a few avenues you can take.
Under 18? Here’s How You Could Start Trading Bitcoin
Bitcoin trading is not impossible if you’re underage, but it is greatly limited. Most sites won’t let a trade happen until you are at least 18, due to the required identity verification that enforces this minimum age. Here’s what could help you get into the Bitcoin trading without ID early:
Use an Account of a Parent or Guardian (with their permission, of course!)
One of the easiest ways to trade Bitcoin with parental consent is through a parent or guardian’s account. If your parents are cool with your Bitcoin plans, they could set up an account under their name and oversee your trading activity. Be open with them about your goals and plans so that they understand you want to learn and are serious, rather than just trying to make a quick buck.
Demo or Simulated Accounts
Many Bitcoin trading apps for minors allow you to practice trading with “monopoly” money in a simulated environment. These accounts give you a simulated version of the real market without actually having to risk real money. Demo trading is a great way to hone your skills until you’re old enough to open a live account.
Less Strictly Regulated Crypto Wallets
If you don’t know what a crypto wallet is, don’t worry. You can check it here. Some crypto wallets are not strictly regulated and do not require a full know-your-client process, so you may store or send small amounts of Bitcoin with one. There are different types of Crypto Wallets. You’ll be able to use popular options like Trust Wallet and Exodus to store your Bitcoin, but trading tools will be limited compared to an exchange.
Peer-to-Peer Trading
This form of trading means you can trade Bitcoin directly with other people, not necessarily using an exchange account. Websites like LocalBitcoins allow you to set up trades with other users, sometimes with limited ID requirements. Be careful with this option; it is a little risky. Make sure there’s always a trusted adult around to supervise.
Best crypto apps for under 18
Below you will find the best Cryptocurrency apps for young traders. Keep in mind that where you live will determine the availability and functionality of these Bitcoin trading apps for minors.
- Binance Lite (With Parental Assistance) Major exchange Binance has a watered-down version of itself, Binance Lite, which is relatively simpler than the full Binance Exchange—but it might be more user-friendly. Parents would still need to set up the account and provide approval, but it’s a nice way to learn on a major platform under their tutelage.
- eToro Demo Account While famous for its social trading features, the reason it’s on this list is that it gives you a virtual demo trading account with $100,000 of virtual money to try your hand at. If you just want experience with the market, then an eToro demo account will surely get you there.
- Cash App (In Limited Cases) Cash App does let you buy Bitcoin, but you typically need to be at least 18 years old. In the United States, teenagers can create a Cash App account sponsored by a guardian; however, this may be dependent on location and permission level.
Knowledge First!
Trading is all about insight and timing. If you’re serious about getting into cryptocurrency trading for minors, use this time to learn more about how Bitcoin and other cryptocurrencies work. There are plenty of free resources, online courses, and YouTube channels filled with expert insights.
Risks You Shouldn’t Ignore
It is exciting to trade Bitcoin, but it can be very volatile and come with great risk. Keep in mind that it is normal for even professional traders to sometimes take losses. The best approach would be to start small, not necessarily focus on profit as the main priority, and remember that crypto markets can be quite wild.
Bottom Line: Yes, but with Caution
So, is it legal to trade Bitcoin under 18? Sort of, but it’s definitely not as straightforward as it may appear. Consider options such as parental assistance, demo accounts, and peer-to-peer trading with a trusted adult. Whatever you do, go slow, learn the ropes, and don’t rush into anything risky.
Remember that patience, persistence, and practice are paramount. Bitcoin and the rest of the cryptocurrencies aren’t going anywhere; there’s plenty of time to go deeper when you feel ready.
