Using Bitcoin and altcoins when under 18

[Jovovich]

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

I think no trading sites and event foreign and local wallet will requiring age for membership, as long as you know how to transact and trade you could convert your altcoins and bitcoin to paper money. Even if they requires age they cannot know if you are telling the truth or not except if we sign up personally. You can trade to C-CEX and JAXX for the series of altcoins then still it will not require age when you sign up.

Maybe he meant some verifying account. Because from what i know, you will need to id's to have your account authenticated. And somtimes student id is not valid for any exchange sites that will require verification. Probably op needs to find more services in his country because sometimes those services depends on what is in the country. He can deposit without the required age but i think he cant withdraw until he is verified.

[jekjekman]

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

Since your coins are from mining and you are less than 18 if the exchanges on your country prohibits you from
converting it what you can do is ask your parents to have it converted or a relative to do it for you.

I assume that your parents are aware that you are mining and the source of your coins are legitimate so there will be no problem for that one.

[kodtycoon]

Using bitcoin under the age of 18 does not matter if he understands the working system of cryptocurrency, bitcoin and altcoin have their exchanges, so I think do not there's anything to worry about that.

[Granxis]

I do not think it will be a benefit to have a younger age because especially the young ones are more informed about computers, but those who are older are more knowledgeable about finance. I think it's best to be middle-aged

[J. Cooper]

I think as an underage person you should be fine setting up an account without providing any information about your age. I signed up on both bittrex and poloniex and I didn't have to fill in anything of that kind. You will have to verify your ID (and thus your age) when you're moving 2k+ in and out of your account.

[bacardibacani]

A minor may trade/exchange cryptocurrencies. Authorities don't really care, unless you're transacting huge values of the coins in and out of the country. My nephew's only 12 and he's already mining ETH, I don't see any limit for him to spend those ethers. Cheers!

[Xanxus024]

i don't know if has any restriction if you are under 18, but other say they have some legal issue if you are teenager or under 18 and some teenager used coinbase because they sent an online form to sign for their parents including passport id scan of teenager and parents, and written letter of parents with sign. but if I'm under 18 it easy to fake those documents that will send online.

[rjcnzy]

Yes, till now there is no specific restriction on bitcoin usage because we don't how many people are using below age under 18.As Bitcoin is not traceable and is not controlled by the government. If it controlled by the government than there is some age restriction for bitcoin usage and even same with altcoin also.

[madwica]

I agree that there is no restriction on the age for using bitcoin or any coin in crypto currency. Here in crypto currency all people have freedom to used but there are some country which bitcoin and other coin was restricted or already banned. Luckily i am on the country which bitcoin is not ban and i know that bitcoin is very popular in my country and me and my cousins start to earn with bitcoin some of them are only 15 years old of age.

[Gotottack]

I don't remember being asked about my age when I register on exchange sites, I have register to almost all exchange but I have never been asked for IDs as well.
They know we all wanted privacy that is why we are using cryptocurrencies, the only problem you can encounter is cashing out btc from websites that asks for IDs.

Try the reputable people here in the forum, some of them buy BTC through paypal. I said reputable so be careful trading with someone,  its like sharing an information and at the same time paypal can be disputed.

Exactly! I do not remember a time I was required to fill in my age when it comes to handling my Bitcoin accounts because the idea of cryptocurrencies is its anonymity. Of course, you have to have your own bank so you can transfer your Bitcoins through it. What is relevant is your compliance with your bank's requirements (age and etc.) for conversion purposes. But, when it comes to Bitcoins, our identities need not be revealed.

[Bourbon44]

Don't think you'll have an issue with exchanges, but the banking part of it. To cash it, you'll need a bank account. I mean in the US, you can get one but your parent has to be on it as well.

[ipanks]

Don't think you'll have an issue with exchanges, but the banking part of it. To cash it, you'll need a bank account. I mean in the US, you can get one but your parent has to be on it as well.

i think he can use his parent identity to register in one bank and he can use the same identity to register in the exchanges. but i think he can register in the exchanges with his identity without his parents and only save his bitcoin in private wallet like in jaxx, mycelium or another so when he is 18 years old and he can have his own bank account. i think there is many ways that he can do to using bitcoin and altcoin and i think he can just save the bitcoin and altcoin for his future and never cash out if he is not 18 years old.

[Shamie1002]

I remember someone told me that before, when he was still starting in bitcoin, he cashes out his money through his mother's bank account. And now he helps me cash out my bitcoins through a remittance centre because I still don't have any valid ID. Student's ID is invalid to use. That is why when he is deciding to cash out, I send my btc to him and gives it to me in an instant.

[creeps]

Well, since bitcoin is decentralized and no one cares about your age because it doesn't matter as long as you know how to use this properly then you will surely make good money. Personally i know a lot of people under 18 are making good money here and help them to support for their studies. So for me cryptocurrency is for everyone and people should take this opportunity to make good money.

[carlfebz2]

Don't think you'll have an issue with exchanges, but the banking part of it. To cash it, you'll need a bank account. I mean in the US, you can get one but your parent has to be on it as well.

i think he can use his parent identity to register in one bank and he can use the same identity to register in the exchanges. but i think he can register in the exchanges with his identity without his parents and only save his bitcoin in private wallet like in jaxx, mycelium or another so when he is 18 years old and he can have his own bank account. i think there is many ways that he can do to using bitcoin and altcoin and i think he can just save the bitcoin and altcoin for his future and never cash out if he is not 18 years old.

As an underage below 18 there are lots of thing that do pop out in our mind which thinking off for long term investment will really be rare and on those ages I'm sure we are always thinking for a new thing to be used on daily basis like cloth,gadgets and other wants since he do know he can able to buy things with just on those earnings that he do get.He/She can actually use his parents information/card on cashing out those money but you would really able to let your parents know on what you are doing specially on the funds you are earning.

[Quietman]

I remember someone told me that before, when he was still starting in bitcoin, he cashes out his money through his mother's bank account. And now he helps me cash out my bitcoins through a remittance centre because I still don't have any valid ID. Student's ID is invalid to use. That is why when he is deciding to cash out, I send my btc to him and gives it to me in an instant.

There is no problem when it come to exchanges because it does not require or limits the age of the users. The problem would be on the process of cash-out. Just like you, I know someone who's underage but already earning bitcoin. He used his praent's bank account and details to verify his online wallet for cash-out. And there are some instances that he is sending his btc to someone he knows that was already verified to cash out. It's just really a matter of witt.

[GreenBits]

I remember someone told me that before, when he was still starting in bitcoin, he cashes out his money through his mother's bank account. And now he helps me cash out my bitcoins through a remittance centre because I still don't have any valid ID. Student's ID is invalid to use. That is why when he is deciding to cash out, I send my btc to him and gives it to me in an instant.

There is no problem when it come to exchanges because it does not require or limits the age of the users. The problem would be on the process of cash-out. Just like you, I know someone who's underage but already earning bitcoin. He used his praent's bank account and details to verify his online wallet for cash-out. And there are some instances that he is sending his btc to someone he knows that was already verified to cash out. It's just really a matter of witt.

A huge boon of bitcoin is that you do not need the approval of any entity to enter the ecosystem. Like some comments have already mentioned, just download a wallet and you can IMMEDIATELY start exchanging your work for bitcoin. As long as you keep bitcoin AS bitcoin, you are likely able to avoid taxation.

However, as long as you keep hush, there's few ways for the state to investigate into your bitcoin activities 

also, atms make it so that if you have a phone and working number, you should be able to cash out without too much scrutiny. just dont do anything illegal.

[ApocalypseNow]

I think anyone can use bitcoins and altcoins but I'm afraid that exchanges will implement age restrictions in the future if you want to do trading. I've seen bittrex that you'll need to verify yourself because if not your withdrawal limit is only up to BTC.02.

[corroze]

if so far there is no rule that explains about the age in bitcoin but certainly along with the development of bitcoin progress of course there will be changes such as in need of verification ID for the security process in conducting various transactions, whereas in each country have different policies about the minimum level of maturity someone and if in my country the age of 18 years has been categorized in adult age, so it can perform various financial transactions and other business transactions.

[supandi wiharja]

I don't think there is a ban under 18 years for the use of bitcoin or altcoin.
Actually it would be better, because they've known bitcoin since a young age.
They will use bitcoin and altcoin as revenue for savings in old age.
Because i see the prospect of bitcoin is very good for the future.
And in my opinion, bitcoin and altcoin can be used for everyone including young and old.