How to Buy Crypto as an Under 18: 6 Super Tips for Minors

Hey, young crypto enthusiast.

Are you eager to dive into the world of cryptocurrencies but wondering how to buy crypto as an under 18?

Buying crypto can be a challenging task for minors due to legal restrictions and limited access to financial services. It’s even worse if crypto is illegal in your country.

But I’ve got you covered. In this user-friendly guide, we’ll explore the ins and outs of buying crypto as a minor to equip you with the knowledge you need.

Whether you’re looking to purchase your first-ever crypto or eager to trade your crypto for another, this guide will show you the various ways to do it. So, let’s get started on this thrilling crypto journey together!

Use Decentralised Exchanges to Swap Crypto

If you already own crypto but want to trade it for another one, this is the easiest route.

Decentralised exchanges, popularly called DEXs, simplify crypto adoption by eliminating the middleman or central authority, which, in this case, is the centralised exchange (CEX) like Binance, Kucoin, and the like.

If you want to purchase crypto from these CEXs, you’ll need to prove you’re over 18, which you can’t for obvious reasons. But the good news is you don’t need any KYC verification, and there are no age limits when buying crypto from DEXs.

There are thousands of DEXs you can buy crypto from as a minor. These are a few of them:

How to Buy Crypto Using DEXs

All you need is a crypto wallet, familiarity with the DEX, and the willingness to trade. If you don’t have a wallet, I’ve explained how to set up a MetaMask wallet on the Mises browser.

You visit the DEX using your wallet’s built-in browser and connect your wallet to the DEX. If you’re using a regular browser, the option to connect your wallet will:

open the crypto wallet app installed on your mobile device
open the crypto wallet extension installed on your desktop browser or extension-compatible mobile browser like the Mises browser

After connecting your wallet, you select the correct network and pair you want to trade, follow the prompts, and voila, you’ve bought your preferred crypto.

Buy From No-KYC Centralised Exchanges

While most CEXs require you to be above 18 and pass their KYC verification to buy crypto on their platform, a few of them don’t require KYC verification.

Unfortunately, many of these no-KYC CEXs are gradually making KYC verification compulsory, and some of them may require KYC verification depending on your region. For example, OKX, Bitget, and Kucoin started as no-KYC exchanges but have now made KYC verification compulsory for users to buy crypto on their platforms.

Some no-KYC CEXs where you can buy crypto as an under 18 include:

I cannot guarantee that the no-KYC exchanges I share here may not require KYC for you to trade crypto by the time you read this post. However, I’ll update this list as often as I can.

We’ve explored some options for those who already own crypto. But what if you’ve never had any and you’re looking to buy crypto for the first time?

Buy Crypto With Your Credit Card From CEX Partners

Some CEXs may have partners that don’t require KYC verification to buy crypto. You can find them in their Third-Party trading options. This way, you can buy crypto with credit cards you’re authorised to use.

For example, MEXC has a third-party trading option you can use with your credit card. You can also try Kucoin’s third-party trading option.

I know you can’t have a credit card until you’re 18, but there are ways you can get one or get authorisation to use one. So, if you have access to a credit card, this may be a viable option for you.

Purchase Cryptocurrency Using a Custodial Account

Your parent or guardian can run an account with a centralised exchange on your behalf. This way, they can buy crypto in your name and have custody of it until you’re of age.

Custodial accounts are different from regular accounts on CEXs. You open these accounts in your name, but your parent or guardian will manage them until you turn 18, depending on your region.

To have a custodial account, you need someone you can trust.

Finding a Trustworthy Adult to Assist You

Here are a few options for finding a responsible adult to assist you:

Parents or guardians: Your parents or legal guardians are often the best people to rely on for support. Approach them with enthusiasm and educate them about the cryptocurrency market.
Siblings or extended family: Older siblings or other trusted family members who understand crypto can help.
Legal guardianship: If you’re under the care of a legal guardian who is well-versed in crypto, they can guide you through the process and ensure compliance with relevant regulations.

Remember, you should choose someone you trust, as they can access your custodial account and financial information. Mutual trust is key in this exciting journey.

Choosing a Suitable Exchange

The next step on your path to buying crypto as an under 18 is selecting a reputable exchange. An exchange is an online platform where you can buy, sell, and trade cryptocurrencies. One exchange that allows you to create a custodial account is EarlyBird Crypto.

Here’s what you should consider when choosing a custodial exchange:

Age requirements: Some exchanges have specific age restrictions, so read the terms and conditions of each platform to ensure they allow minors to create accounts.
Security measures: Prioritize exchanges with robust security features such as two-factor authentication (2FA) and cold storage options. These measures provide an extra layer of protection for your crypto assets.
User-friendly interface: As beginners, it’s crucial to have access to an intuitive platform that simplifies the buying process. Look for exchanges that offer a friendly user interface and clear instructions.

Opening Your Custodial Account

Once you’ve found a suitable exchange, it’s time to open your custodial account. Remember, this step requires assistance from the trusted adult we mentioned earlier. Here’s what you need to do:

Research and comparison: Research different custodial account options with your trusted adult. Compare features, security measures, and user reviews to make an informed decision.
Fill in the necessary details: Your trusted adult will be responsible for providing their information during the account creation process. Make sure they provide accurate details to comply with legal requirements.
Verify your identity: You may need to complete a verification process to meet regulatory standards and ensure the platform’s security. Follow the instructions provided by the custodial account provider to prove your identity.

Trade Goods or Services for Crypto

If you’re under 18 and eager to get into the world of cryptocurrency, there’s a creative and accessible way to do so: by offering goods or services in exchange for crypto.

This method doesn’t require you to have a bank account or go through the usual age restrictions when buying cryptocurrency on exchanges.

Here’s how you can get started:

1. Identify Your Skills or Assets

First, take a moment to think about what you have to offer. It could be anything from your skills to physical items you no longer need.

Are you good at graphic design, writing, or programming? Do you have old video games, electronics, or collectables lying around that you’d be willing to part with? If you’re crafty and enjoy making jewellery, candles, or other handmade goods, you can sell them for cryptocurrency

2. Find a Platform or Community

Next, you’ll want to connect with a community or platform where people are open to trading goods or services for cryptocurrencies.

Some popular options include online forums, social media groups, dedicated platforms like Bitify, or even local crypto meetups.

3. Create a Listing

Once you’ve found a suitable platform or community, create a detailed and appealing listing for your offer. Specify the type of cryptocurrency you’re willing to accept and clearly describe what you’re offering. Include high-quality images, if applicable, to showcase your skills or the items you want to trade.

4. Negotiate and Agree on Terms

When potential buyers or traders express interest in your offer, be open to discussing the terms of the trade, including the quantity of cryptocurrency you’ll receive, the timeframe, and any additional conditions.

Ensure that both parties are comfortable with the arrangement before proceeding.

5. Complete the Transaction

Once you’ve reached an agreement, it’s time to fulfil your end of the deal. If you’re offering a service, deliver it promptly and professionally. If you’re trading physical goods, package them securely and arrange for shipping. In return, you’ll receive your cryptocurrency in your wallet address.

Be careful when dealing with individuals online. Verify the legitimacy of potential trading partners, and always use secure wallets to receive your cryptocurrency.

Also, consider the tax implications of your crypto earnings based on your local laws and regulations. With some creativity and effort, you can start accumulating cryptocurrencies.

Use Crypto Communities and Trading Groups on Social Media

These communities can help you learn about cryptocurrency, engage with experienced traders, and even find opportunities to buy or trade digital assets. Here’s how to go about it:

1. Choose the Right Social Media Platform

Start by selecting a social media platform known for its cryptocurrency trading communities.

While Facebook, Reddit, WhatsApp, and Twitter have active crypto groups, platforms like Telegram and Discord are particularly popular for hosting crypto trading discussions.

Joining these platforms and groups is typically free and straightforward.

2. Research and Join Relevant Groups

Search for cryptocurrency-related groups or channels once you’re on your chosen social media platform.

Look for those that cater to traders and enthusiasts. These groups often have names like “Crypto Trading Chat” or “Bitcoin Buy/Sell.” Joining these groups may require you to follow specific guidelines or answer some questions to gain access.

For example, you can look for established Discord servers with active members. These servers often have specific channels for buying and selling crypto.

3. Learn and Engage

Take some time to observe and learn from the discussions within these groups. Read the posts, comments, and articles shared by members.

Engaging with the community by asking questions and participating in conversations can help you gain valuable insights into cryptocurrency trading strategies.

4. Verify Sellers and Buyers

When you’re ready to buy or trade cryptocurrencies, exercise caution. Always verify the credibility of the individuals you’re dealing with. Check their trading history within the group, and don’t hesitate to ask for references or feedback from other group members. Trustworthy traders are often well-known and respected within these communities.

If you’re in a local group, there may be an option for face-to-face transactions. If you’re using this option, ensure to use a public place and go with an adult you trust.

I wouldn’t trade with someone I don’t know online. Before I trade with them, someone I know and trust must vouch for them or serve as an escrow. This is the most efficient way to avoid scams when trading in online communities without a centralised escrow system.

Like any online community, you should exercise caution and avoid sharing sensitive personal information. Also, beware of potential scams and fraudulent schemes; if something sounds too good to be true, it probably is. By using social media trading groups wisely and responsibly, you can navigate the world of cryptocurrency trading effectively.

Now that you’ve discovered interesting ways to buy cryptocurrency as a minor, you should understand the risks involved and learn some tips for investing your crypto.

Risks and Precautions

Beware of these associated risks and take necessary precautions.

Security Concerns

Prioritise the security of your crypto assets. Use secure wallets and enable two-factor authentication to protect your holdings from potential hacks and thefts. Choose reputable exchanges and platforms that prioritise security measures.

Scams and Fraudulent Activities

The crypto industry is not immune to scams and fraud. Be cautious of phishing attempts, fake investment schemes, and unauthorised platforms. Conduct thorough research, verify the credibility of sources, and be sceptical of promises that seem too good to be true.

Importance of Research and Due Diligence

Before investing in any cryptocurrency, analyse market trends, understand the technology behind the crypto project, and evaluate its growth potential. Due diligence will help minimise risks and increase your chances of making informed investment decisions.

Tips for Investing in Crypto

Here are some tips for investing in cryptocurrencies:

Start Small and Diversify

Start with a small investment to gain experience and understand the market dynamics. Diversify the investment portfolio by investing in different cryptocurrencies to spread the risk.

Stay Informed and Updated

The crypto market is highly volatile and constantly evolving. Stay informed about the latest news, market trends, and regulatory changes. Subscribing to reputable crypto news platforms and following industry experts can provide valuable insights.

Set Realistic Goals

Set realistic goals and avoid getting swayed by the hype and speculation surrounding cryptocurrencies. Have a long-term perspective, and don’t expect overnight success.

Seek Professional Advice

Seek professional advice from financial advisors or experts in the crypto industry. They can guide you through the investment process, help identify potential risks, and provide personalized strategies based on individual circumstances.

Buying Cryptocurrency as a Minor May Not Be So Hard After All

Congratulations!

You’ve made it through this comprehensive guide on how to buy crypto for under 18s.

Always prioritise legal compliance, seek assistance from a trustworthy adult, and follow security measures to protect your digital assets. The world of cryptocurrencies awaits you, so start your exciting investment journey today.

Join my Telegram channel for more crypto info, tutorials, and updates. Ask questions in the Telegram group whenever you need help.

Frequently Asked Questions

Can I use a friend’s custodial account to buy crypto as an under 18?

Avoid using someone else’s account, which can lead to complications and potential legal issues. Always follow proper legal procedures.

What other ways can I earn crypto as a minor?

Apart from buying crypto, you can earn it through airdrop hunting or freelance work offered by crypto-related platforms, subject to age restrictions. Join my Telegram channel to discover crypto airdrops and other opportunities to earn crypto.

Will my custodial account automatically convert to a regular account when I turn 18?

It depends on the terms and conditions of the custodial account provider. Some may require you to undergo an additional verification process or provide legal documentation upon reaching the age of majority.

Can I buy cryptocurrencies without being 18 years old?

Yes, but depending on your jurisdiction, you may need parental or guardian consent.

What are the risks involved in buying cryptocurrencies as a minor?

The risks include potential scams, fraud, and the need for additional precautions to protect your digital assets.

Can I use cryptocurrency ATMs if I am under 18?

Some cryptocurrency ATMs serve individuals under 18. Research and find those that comply with your legal age limits.

How can I ensure the safety of my cryptocurrencies?

Implement strong security measures such as unique passwords, two-factor authentication, and utilising secure wallets to safeguard your digital assets.

Where can I find reliable online resources to learn more about cryptocurrencies?

Explore reputable websites, blogs, and forums that provide educational content on cryptocurrencies and investing in them. Check out Binance Academy and Supra Oracle’s Learn to Earn program.

Can minors invest in Initial Coin Offerings (ICOs)?

ICO regulations vary across jurisdictions, and some may have age restrictions for participation.

What should minors consider before investing in crypto?

Minors should research cryptocurrencies, understand market trends, and seek professional advice to make informed investment decisions.