Bitcoin Forum

Many Bank only allow +18 users to use money services is right for you?

so if this right bitcoin not need ID so under 18 years can use it

What is your question? Bitcoin has no legal requirements. You can use Bitcoin regardless of your age or country, - even because you do not need to provide ANY personal information to use Bitcoin.

In my country, you can only have a "full" bank account if you are at least 18 years old. I can't comment on the situation on other countries, but I think it's the same for almost every country in the world.

Bitcoin to other cryptocurrency exchanges and transactions are anonymous in principle regardless of age anybody can join bitcoin transaction as long as no fiat or paper money exchanges are involve, but there are some countries that require personal identification and age restriction and other legalities to prevent tax evasion and anti money laundering activities when doing bitcoin exchanges. Just check your country policy about bitcoin and to make sure not to be screwed, it's a word of caution might you end up someday that the bitcoin you invested will be useless in your area.

Bitcoin doesn't really age limit to open an account. But spend bitcoins without exchanging for Fiat is almost impossible. You need to have a Bank account. In my country there is no problem to open an account at any age. Maybe OP meant the situation when there is an age limit? In this case, you may be asked to do is his guardian. I don't really know how to be when wallet registration need a passport.

You can have your parents open an account for you if you're a minor. There are quite a few requirements as well as some legal documents that are involved with opening a bank account, so it makes sense that it would be closed off to minors. Services such as loans require even more requirements and even more legal documents that it's better for minors to not look into it. It sucks that age is being used as a yardstick for mental and financial capability, but this may be the best way to kind of stop young people from entering deals and legal responsibilities they may not fully understand.

Bitcoin being decentralized means you don't need any documents nor consent from anyone, so you're free to use it. There are no money services to apply for, but you can strike up deals with other users in lieu of them, but you're going to have to take full responsibility of yourself.

In all, I think it's pretty fair. The banks have an obligation to take care of you, to some extent, since you're their client, and they're free to impose any age requirement they wish. In using Bitcoins, you're basically alone, so you don't have to conform to any policy.

That's true you can't be the sole owner of a bank account when under 18, but you can be the owner of a BTC wallet with much more value than your parents' bank account.
I don't agree with this rule that prevents minors from owning money, but it's been made because minors aren't prosecuted for their actions like adults. If they could have an account and register a business, adults would have used them as frontmen for illegal activities, knowing that they won't get incarcerated for it.

If the bank has a regulatory requirement against users who already have +18 age using an ID, this is certainly different from bitcoin that has become a system of bitcoin performance in the absence of binding rules about the age of its users, even without the use of ID, but bitcoin activity can still be done well for payment or business transactions.

Bitcoin don't have age requirement because there's no way to identify it's users unless you have use a KYC/AML complied wallet like coinbase. If not, as long as you know how this work. You're fine.
Anyway, banks is one of the way to buy bitcoin. But you're still lucky because you can still buy bitcoin. Try localbitcoins.com. Try to find a local seller near you to buy bitcoin. Maybe you can buy bitcoin with cash since banks don't allow to use their service since you are underage. Im just curious, why don't just ask your parent to make an account for you? I think they allow that. I don't know what are the laws in your country pertaining to that matters.

There is no need to provide ID for international transactions like signing up for a trade site and creating your own bitcoin wallet abroad because for them your coins deposit is the most important but in local transactions like in our country in which the need of local wallet is a must to receive bitcoin from outside we are strictly required to submit ID by our local wallet site so that we could maximize our withdrawal in fiat. This is maybe to prevent money laundering and other bad elements activities that might be happen.

It seems to me that if you wish no problem to circumvent the requirement to provide the documents for registration. For me the important issue is that we don't know when and where our data will be provided. For this reason, I do not think bitcoin is an anonymous currency. All those who say about his anonymity only to lull our vigilance.

There are some banks allowed below 18 years old to save money under their system and there is wrong for that it is good that at the early age they already know how money is important.
While bitcoin there is no age limit on using it, people who know about bitcoin can able to used it.

Not really Bitcoin wallets do not need any ID proof nor age proof to make a transaction. Transactions are totally anonymous...regardless of your gender, caste, religion, age, nationality etc. Concept of BTC is quite liberal and independent.

The Bitcoin system is great, anyone can keep their asset here without any age limit.
But I really feel uncomfortable, if this is used by the perpetrators of corruptors, I hope the government and relevant parties pay attention, study and manage the traffic circulation E-currency to prevent the occurrence of money laundering.

this is the reason that make bitcoin specifically coin Free for every thing

No ID needed

No taxes

Free

Global

Bitcoin is decentralized. So any age can use bitcoin no need to use I.D. hope the government will teach their citizen on how to protect their bitcoin in case their are hackers will hack wallets. cryptocurrency is developing bitcoin assets the transaction and identification is on their long term plan.

Yes, Bitcoin is completely anonymous

have you seen the thread of minors asking how to cash out their btc on here? it's anonymous, but if you want to do anything with it, you have to be 18. For ex. cashing it out at a bank

Yes, that's right. What is your point anyway?
It is true that bitcoin doesn't need age verification, and that is one of the major reasons why bitcoin is so successful today, because you don't need any ID verification for using bitcoin while you have to do that if you want to keep your money safe in practical world, in banks. Bitcoin provided a platform for people from any age, to have and store money without any restriction of age or anything else, and this was a really big revolution for the world, which touched the sky in no time, and the result of that is in front of us today - 1 Bitcoin is being sold for $5.7k today.

OP is under 18 I think :D Whatever you do with bitcoin is up to you and when it comes to cashing out you'll know why you don't need any ID to have some bitcoin, if you are worried about kids to buy drugs and even guns with bitcoin then you should check on their parents to tell them their kids need some lessons :D

Give your parents cash so they can buy it for you.

There is no need to provide any kind of personal information to hold bitcoin or to do trading in BTC. But if you convert your BTC into fiat than you need to provide KYC to the exchange which include your Valid ID proof, Bank account details, Social security no.(If any) etc.
In most of the countries if you want to do transaction through bank than your age should be of 18, so you can't buy or sell BTC with fiat till 18. But if you are doing any transactions in BTC than there is no age limit.

The use of bitcoins has no age limit. But many wallets or accounts on the exchanges require verification. You need to provide scans of documents. This is the only problem. If you provide other people's documents problems you will have. But I'm not sure that anybody except close relatives you will be able to help. After all, we can talk about large sums which will have to pay taxes.

This is right on where theres no limitation or restriction on age when it comes on engaging into bitcoin as long you do aware its usage and what it is then you are good to go without any need of ID as long we do have our own bitcoin wallet then we are capable on holding on our own asset or money with our bare hands and no one would able to get it from you as long you don't disclose your private keys and as being said on here the thing you should be concerned off is when you are already converting your bitcoin into large sums of money which you will really need to comply kyc terms of any exchanges for sure.

Bitcoin has no definite age restrictions. Perhaps ICOs do but as far as any Alt coins there are no age restrictions

The reason that certain amount of cash is restricted or questionable when a minor is having it is to prevent them from going into illicit dealings like drugs, buying of guns etc so that they can be observed. But bitcoin has no boundaries, no limitations as to age and otherwise.

If you have large amount of bitcoin, you can play around with it, transacting, transferring to exchanges but once converted to fiat, eyes will be on the inflow and outflow because of certain restrictions as I said earlier, either because of age, cash transaction limiit etc.

Banks don't restrict anyone because of your age. Parents have the option to link their kids' bank accounts to their accounts or the kids have an option to set up their own bank account, there is nothing illegal when minors have their own bank accounts, I have a standard savings account when I was 7 years old and I am still using that. Bitcoin itself does not require any minimum age to be used. But other local wallet providers requires a minimum age before they can verify an account, I don't know the real reason for that though.

Bitcoin does not have any age limit to use, if you have enough knoweldge about bitcoin it is enough to use bitcoin and earn through bitcoin. You no need to provide your id or other details for transactions. If you want to convert bitcoin in to local fiat just you have to keep your bank transaction details. It is enough for local exchanges. Some traders would ask to produce your id or documents to verify. Not all traders want such details.

Bitcoin doesnt need any ID or birth certificate and whatsoever to use. It doesnt have any age limit. As long as you are responsible enough , knows how to do it, has a capital obviously then you can do crypto investing. This is one reason why cypto is more likely to used by people instead of banks.

I think you can open an account even if you are under 18 using your parent permission, although you wont get any full control, and in bitcoin it doesn't need any of that, it's the freedom that anyone wanted, bitcoin not restricted to any rules and the best thing is bitcoin also can become an investment, if you are a teenager and you can responsible for your money and can be smart then bitcoin is good for you, but if you're still reckless and easily being deceive then just open bank account at least your parents can prevent you from losing money

Some merchants or E-Wallets may have age restrictions, but Bitcoin is not a web site that has some kind of centralized rules so there is no restrictions regarding how old you must be. But if you buy or exchange Bitcoin for fiat from a bank account, you may be constrained by the age restrictions that may apply in your country.

You can own and use BTC even under the age of 18.

In our country, below 18 years of age can open account in a bank with their parents consent in which is necessary to prevent money laundering activities. In Bitcoin anyone can join the investment and transactions as long as they know how its works and the ID's will just required only if they will affiliate to their local exchanges for their future transactions of Bitcoin to Fiat conversion in which the ID was required as per government policy and below 18 is strictly prohibited to join.

ID is very important for the transparency of your transactions on the bitcoin exchange online and local activities was closely monitored and can be traced. Same here in my country I was also asked for those credentials, and as an abiding citizen I used to follow what's legal. That's the good ways to implement the regulations in each country so the crimes related to financial abuse like the example mentioned same as money laundering, and other criminal acts related to bitcoin. In this case everyone should be able to bare in mind that no one is above the law, and is subjected to conviction if found guilty against the violations committed.

There is no need to provide ID or personal information to use bitcoin.