Buying Bitcoin

[epoc02]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

[Frankolala]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

You should move this topic to Bitcoin discussion board.

Is it legal for a child to have a bank account where his parents saves money for him... As long as you have the money to invest in bitcoin and know how to keep your bitcoin safe, anyone can invest in bitcoin because there is no age barrier in bitcoin investment.

Of course 10 pounds is cool to invest with on bitcoin monthly and if you can do this persistently every month for 4 years and above, you will be surprised at the size of your bitcoin portfolio. Buy bitcoin now that the price is at the dip for better profit on the long run.

[epoc02]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

You should move this topic to Bitcoin discussion board.

Is it legal for a child to have a bank account where his parents saves money for him... As long as you have the money to invest in bitcoin and know how to keep your bitcoin safe, anyone can invest in bitcoin because there is no age barrier in bitcoin investment.

Of course 10 pounds is cool to invest with on bitcoin monthly and if you can do this persistently every month for 4 years and above, you will be surprised at the size of your bitcoin portfolio. Buy bitcoin now that the price is at the dip for better profit on the long run.

Yes I understand.
How do you recommend I go around buying bitcoin. I have a wallet however almost all places I go to buy it either has an age restriction or a £20-30 minimum.

[Frankolala]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

You should move this topic to Bitcoin discussion board.

Is it legal for a child to have a bank account where his parents saves money for him... As long as you have the money to invest in bitcoin and know how to keep your bitcoin safe, anyone can invest in bitcoin because there is no age barrier in bitcoin investment.

Of course 10 pounds is cool to invest with on bitcoin monthly and if you can do this persistently every month for 4 years and above, you will be surprised at the size of your bitcoin portfolio. Buy bitcoin now that the price is at the dip for better profit on the long run.

Yes I understand.
How do you recommend I go around buying bitcoin. I have a wallet however almost all places I go to buy it either has an age restriction or a £20-30 minimum.

The best way is to buy from an exchange depending the country that you are but I believe that Binance, Bybit or Kucoin should be operating in your country. Register with any of these exchange that operates in your country and complete their KYC verification first.

After that you can buy bitcoin through p2p from traders in your country, you send them the amount of money that you want to use to buy bitcoin and you will get your bitcoin in your exchange wallet but you need to be very careful since it is the first time to avoid complications.

How did you buy the first €20 bitcoin that you said you bought. Don't forget to use a noncustodial wallet like Electrum wallet, Blue wallet or Sparrow wallet which only you have the private keys to store your coins and don't leave your bitcoin in an exchange.

[Charles-Tim]

The best way is to buy from an exchange depending the country that you are but I believe that Binance, Bybit or Kucoin should be operating in your country. Register with any of these exchange that operates in your country and complete their KYC verification first.

These are centralized exchanges that only allow 18 years old and above to have access to their exchange products and services.  Except maybe his dad, mum, relative can give him one of their identity documents to get the verification done but which is not ideal but who cares.

How did you buy the first €20 bitcoin that you said you bought.

This is just it. He used P2P like from somewhere like on this forum, through telegram etc cetera. Or he used centralized exchange that do not require KYC. Or a decentralized exchange.

[epoc02]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

You should move this topic to Bitcoin discussion board.

Is it legal for a child to have a bank account where his parents saves money for him... As long as you have the money to invest in bitcoin and know how to keep your bitcoin safe, anyone can invest in bitcoin because there is no age barrier in bitcoin investment.

Of course 10 pounds is cool to invest with on bitcoin monthly and if you can do this persistently every month for 4 years and above, you will be surprised at the size of your bitcoin portfolio. Buy bitcoin now that the price is at the dip for better profit on the long run.

Yes I understand.
How do you recommend I go around buying bitcoin. I have a wallet however almost all places I go to buy it either has an age restriction or a £20-30 minimum.

The best way is to buy from an exchange depending the country that you are but I believe that Binance, Bybit or Kucoin should be operating in your country. Register with any of these exchange that operates in your country and complete their KYC verification first.

After that you can buy bitcoin through p2p from traders in your country, you send them the amount of money that you want to use to buy bitcoin and you will get your bitcoin in your exchange wallet but you need to be very careful since it is the first time to avoid complications.

How did you buy the first €20 bitcoin that you said you bought. Don't forget to use a noncustodial wallet like Electrum wallet, Blue wallet or Sparrow wallet which only you have the private keys to store your coins and don't leave your bitcoin in an exchange.

This is very helpful thank you.

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.

I will have a look at binance.

[Stalker22]

~

If you are looking to get your hands on some BTC, you have got options beyond just setting up an account with a centralized crypto exchange.  Id suggest doing a quick Google search to see if there happen to be any Bitcoin ATMs in your area.  In some bigger cities, these are popping up in cornershops and convenience stores all over the place.  And you may even have some luck contacting local Bitcoin meetup groups or associations to find people who are willing to meet up in person to sell you some coin peer-to-peer style.  Point is, depending where in the world you call home you can likely dig a little deeper beyond the most obvious routes and uncover some solid local options for entering the world of Bitcoin.

[dzungmobile]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

With £10 for one purchase, I doubt that you can do it on centralized exchange. You need to check their minimal trade value and see can you do it or not. For other information like Taker fee, Maker fee, Withdrawal fee and so on, you can check with following sites
https://www.cryptowisser.com/exchanges/
https://exchangewar.info/

I have already invested £20 which is now worth £40.

If you can not do it with £10 for one purchase monthly, you can try to increase it to £20 monthy or wait for two months to make one purchase.

Also is it even legal for an under 18 year old to invest in bitcoin.

Legal or illegal depends on your country policy on Bitcoin and Bitcoin market. It is not related to your age and as I know, centralized exchanges don't block you to use their services if you are under 18 years old. I am unsure about it, just thinking, and you need to double check it with Terms of Service in an exchange you want to use.

[RickDeckard]

Legal or illegal depends on your country policy on Bitcoin and Bitcoin market. It is not related to your age and as I know, centralized exchanges don't block you to use their services if you are under 18 years old. I am unsure about it, just thinking, and you need to double check it with Terms of Service in an exchange you want to use.

They actually block minors from registering the platform as it isn't legal to give access to them considering the kind of activity they do (Coinbase[1], Kraken[2], Binance[3] just to give some examples). The same happens to casinos as well (once again, considering the service that they provide, they must abide by the rules of the market).

As far as being illegal or not holding bitcoin while < 18, I'm sure that the rule is mostly iffy in countries - if bitcoin isn't seen as an investment vehicle then most likely there isn't anything stated that having it under 18 years old is also illegal. We can all debate on the justification as to what's the difference between having 16-17 years old vs. 18 years, but as it stands the rules are those (and will be for the foreseeable future).

My recommendation would be - assume that you are aware of what you are actually buying and your expectations match the underlying behaviour of bitcoin (especially if you are buying it just because of what you heard vs. buying it because you understand what's behind it) - you can try to purchase voucher cards (such as Azteco[4]) and then redeem the bitcoin in those.

I'm only sharing that recommendation because I know that some P2P markets do require that you have at least 18 years old to use the service (for example PeachBitcoin[5]). Being P2P markets they won't ask you for ID checks, but I suppose that if they do found out that you've signed up under false claims they could suspend your account.
[1]https://help.coinbase.com/en/coinbase/getting-started/getting-started-with-coinbase/create-a-coinbase-account
[2]https://support.kraken.com/hc/en-us/articles/360059110151-Creating-and-verifying-your-account-on-the-Kraken-app
[3]https://www.binance.com/en/terms
[4]https://azte.co/
[5]https://peachbitcoin.com/terms-and-conditions/

[Sayeds56]

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

Yes! you can buy Bitcoin worth 10 GBP, there are many platforms and exchanges those allow to purchase small amounts of Bitcoin including Coinbas and Binance and other exchanges. The legality of Investing in Bitcoin by minors depends on regulations of the country where you live in. However you can open your account country like UK through your partner or guardian. It is great to hear that your initial investment in Bitcoin has doubled, this is the volatility of Bitcoin which often  provides opportunities for investors to buy during dips and make profits.

[LoyceV]

Also is it even legal for an under 18 year old to invest in bitcoin.

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.

You're young, recently bought Bitcoin, and can't remember how? How is this possible? It doesn't make sense.
Next, you'll say you don't know how you stored your backup seed.

There's a few more things to consider buying Bitcoin. You should probably read up before proceeding.
Things that come to mind:: withdrawing a small amount from an exchange means you pay a large percentage in withdrawal fees. Collecting small amounts in your own wallet means you'll pay more on transactions fees when sending it later on. Keeping it on an exchange has risks, keeping it in a hot wallet also has risks.

It's probably best to discuss with your parents on how to create an exchange account. If your under age, maybe they're willing to help you out.

[suzanne5223]

This is very helpful thank you.

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.

I will have a look at binance.

The best chance for you to buy BTC due to the possible age restriction is using a P2P exchange but I'm surprised how a teen who is yet to have parental responsibility will forget how he/she bought BTC days ago. The only way this is possible is either there is something you're not telling us or you're not ready to get involved in Bitcoin

[RickDeckard]

It's probably best to discuss with your parents on how to create an exchange account. If your under age, maybe they're willing to help you out.

Didn't remember of this, but it could work as well indeed. There is nothing stopping you from having a conversation with your parents or another family member to have him register for you in an exchange (be it CEX or P2P) and then he/she buys whatever amount you ask him to. He then can send you the amount whenever you reach the legal age to start using the platform or to continue accumulating in any other medium that you want to.

This method is used, from what I know, by parents that want to buy their kids investment options (such as Index Funds) instead of opening a savings account for them. So it could work for Bitcoin as well.

[pooya87]

Also is it even legal for an under 18 year old to invest in bitcoin.

You are under the legal age and you are trying to start stuff in the dark net?! You might want to slow down a bit, you don't want to ruin your future doing something illegal, do you?

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

[Lucius]

~snip~
How did you do this last time? Why can't you do it again?

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.
~snip~

It seems that the OP is one of those who forget very quickly, and if I were him, I would wonder if I bought BTC at all, or if I am a victim of a "watch-only wallet scam". I have no doubt that there are a lot of people who invest in BTC, but in fact they only bought some public BTC address and look at someone else's balance.

[odolvlobo]

Also is it even legal for an under 18 year old to invest in bitcoin.

In the U.S., there are no laws against minors buying, selling, owning, or using Bitcoin. The main reason that financial companies don't allow minors is that contracts with minors cannot be enforced. Also, companies don't want to deal with the laws regarding interacting with minors online.

I assume the situation is similar where you live.

A good solution for you is to buy bitcoins from a friend or for a parent to open an account for you in their name.

[WatChe]

Also is it even legal for an under 18 year old to invest in bitcoin.

You are under the legal age and you are trying to start stuff in the dark net?! You might want to slow down a bit, you don't want to ruin your future doing something illegal, do you?

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

I think investing in Bitcoin is not an issue but using it for illegal purpose is an issue and must be avoided at all costs. There are countries where use of crypto currencies is illegal but it's illegal regardless of your age or race. So if crypto is not ban in one's country then he must fee free to buy Bitcoin.

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

That's a good catch. If OP has already done that they why not again.   

[satscraper]

The best way is to buy from an exchange depending the country that you are but I believe that Binance, Bybit or Kucoin should be operating in your country.

I would not say that CEX like Binance, Bybit, Kucoin  or anything else represent the best way to buy BTC. Once again,  I would advocate bisq/bisq2 - decentralized p2p platform with no KYC and any other restrictions including the age. I'm trading there in EUR and encountered many offers to sell bitcoins for pounds.  

[Adbitco]

At first age does not restrict anyone from investing in Bitcoin you can invest in Bitcoin as long as you can manage your seedphrase and wallet properly. Investment does not only rely on being an adult or above 18 years, the most important thing is if you have access of passing kyc on centralized exchange then you can purchase your Bitcoin but in a way whereby you are not of age then I will advise you should buy bitcoin through p2p from trusted people in your country on your local board.

Again you can purchase any amount of Bitcoin be it $1 $2 $3 $4 or even $10 per week what matters most is the cost of transaction to cover up moving your Bitcoin to another wallet alternatively if the fee would be a major problem to you you may leave such amount on exchange maybe after having accumulated enough Bitcoin then you can move them to a self custodian wallet where only you have the access to the wallet.

[Pandu Geddon]

I will have a look at binance.

you have to go through KYC verification there. it might be a bit troublesome if you don't have any documents yet.
P2P is currently the most recommended for you. Bitcoin asset ownership is not affected by age. the most important thing is that you already have the awareness to be responsible by carefully storing your wallet where you store your assets.

you have a good idea by allocating some money to Bitcoin. By doing it consistently, you will get extraordinary benefits in the future. you have started it well, hopefully, everything you do will run smoothly. if you have any difficulties, don't hesitate to ask in the forum.