Under 18 Bitcoin Trading

[LostDutchman]

All your responses are cracking me up!  Dutch, the youth of today can't get away with the things we did 20-30 years ago.  Hell, they're more at-risk today for becoming an addition to the sex-offender registry for stupid adolescent stuff.  

Regarding the age thing, there is a significant legal risk/liability encumbered upon the business that knowingly transacts with a minor (juvenile, not Loretta Lynn's father).  If the parents found out, didn't approve, or even forced the minor to turn over all accounts to them, the company, hopefully deeply rooted in every major security effort they can handle, would react accordingly as if the situation was a scam and freeze it all pending litigation.  This can get dog butt ugly.

Kid, I don't know where you live but I'd happily give you some coin if I had any. But I suggest the faucet sites as a start.  I've made a whole dollar on them already!  Just be careful, know the laws and rules.  Ask lots of questions, be safe, and let us know how it goes.  If you need bail monkey we'll be here cussing each other...lol.

OK but unless the kid has access to an over-18 bank account or is willing at his tender age to meet up with every potential asshole on the planet through Localbitcoins, how does he cash out?

[phillipsjk]

When I was a youth I bought and sold used computer hardware in sub $100 amounts. I have heard it is hard to find local Bitcoin sellers willing to deal in small amounts though. The is also #bitcoin-otc on freenode as well (definitely buyer/seller beware of scams there). You are probably allowed to send a Postal Money order under-age.

[zeroday]

I've been doing business from age of 15 and it really annoys me how those fucking regulators deprive young talented people for earning money.

I'll gladly assist my child to get bank account and star business if he feels ready for it, no matter of age.
I think bitcoin is great way to support kids who want to start earning money working online instead of being brainwashed in high-school asylums.

[LostDutchman]

I've been doing business from age of 15 and it really annoys me how those fucking regulators deprive young talented people for earning money.

I'll gladly assist my child to get bank account and star business if he feels ready for it, no matter of age.
I think bitcoin is great way to support kids who want to start earning money working online instead of being brainwashed in high-school asylums.

There ya go!

Spot on!

Thank you for your post!

[Beliathon]

Yeah, you are using someone else's name and it might be technically illegal or maybe not but who cares?

People do this kind of stuff all the time.

Kudos for you for having the the brainpower and maturity to understand Bitcoin at your age!

Fuck'em and go for it!

Wise words, and I love it.

The reason young people are restricted from so much of adult life, is because young people are supposed to be in schools, learning how to be obedient workers AKA wage-slaves.

Or for the elite caste, learning how to be properly cultured and sophisticated, and to care for the peasants working in all the factories daddy owns.

Also education stunts maturity, and it's designed to.

[LostDutchman]

Yeah, you are using someone else's name and it might be technically illegal or maybe not but who cares?

People do this kind of stuff all the time.

Kudos for you for having the the brainpower and maturity to understand Bitcoin at your age!

Fuck'em and go for it!

Wise words, and I love it.

The reason young people are restricted from so much of adult life, is because young people are supposed to be in schools, learning how to be obedient workers AKA wage-slaves.

Or for the elite caste, learning how to be properly cultured and sophisticated, and to care for the peasants working in all the factories daddy owns.

Also education stunts maturity, and it's designed to.

Well said!

[ijmolder93]

It is not exactly the best or safest way, probably not the best cost wise either, but I am pretty sure you can buy them from someone else if you make or have a paypal account. Just dont let them know you're buying cryptos.

You have to be 18 to have a Paypal account.

What about just using paypal as the processor? For example, buying something on eBay, and on checkout, just use the pay with debit/credit card option instead of use paypal account option?

Let me try this again.

You have to be 18 to have a Paypal account.

Is English a second language for you?

No, you obviously didnt understand what I was asking or your trolling is working successfully. To clarify for you, when you buy something with eBay, if you do not have a paypal account you can just enter in your credit or debit card details and pay with your credit/debit card. This is not actually owning a paypal account, but paypal is the processor.

Good job, your trolling is both successful and funny. I should applaud you, but instead I am feeding you by making this post.

[LostDutchman]

It is not exactly the best or safest way, probably not the best cost wise either, but I am pretty sure you can buy them from someone else if you make or have a paypal account. Just dont let them know you're buying cryptos.

You have to be 18 to have a Paypal account.

What about just using paypal as the processor? For example, buying something on eBay, and on checkout, just use the pay with debit/credit card option instead of use paypal account option?

Let me try this again.

You have to be 18 to have a Paypal account.

Is English a second language for you?

No, you obviously didnt understand what I was asking or your trolling is working successfully. To clarify for you, when you buy something with eBay, if you do not have a paypal account you can just enter in your credit or debit card details and pay with your credit/debit card. This is not actually owning a paypal account, but paypal is the processor.

Good job, your trolling is both successful and funny. I should applaud you, but instead I am feeding you by making this post.

Ah but you cannot SELL on egay without a Paypal account.

One must be 18 to have a Paypal account.

Stop trying to mislead this kid.

I'm not "trolling".

When and if I "troll", I assure you, you will know it.

And besides, you did not challenge my statement that one must be 18 to have a Paypal account and instead played the Red Herring game.

[keithers]

I have a bank account, although it is one of those attached-to-parent's-account ones. I have a licence and everything. Will Bitstamp actually deny me if I give them my info?

take this as a BIG warning. stick to using localbitcoins.com to buy bitcoins. then transfer bitcoins to an exchange, do some trading to increase your bitcoin holding, and take bitcoins out to then sell for fiat back at localbitcoins.

i tell you this as a warning. because by using the service underage means they COULD lock your account without any warning and due to the fact that wire transfering to underage users is against their policy, they will not honour a wire transfer if they found out your age.

so DO NOT even risk doing a wire transfer or even getting verified with bitstamp. it is not worth the risk/cance of getting your account locked. so stick with only moving bitcoins in and out, thus avoiding the whole verification process of fiat transfer.

again DO NOT RISK IT moving fiat into or out of bitstamp. if you do then you have only yourself to blame.

localbitcoins is the less riskier option

Follow Franky1's advice.   Doing it anyway may allow you to get some BTC for the time being, but it will not end well.   Or just get permission from your parents to use their account (if they will allow)

[ThePurplePlanet]

Maybe ask your parents to sign up for you...

[Pobre]

Well when i was under 18, the best way to buy btc for me was buying it from a person in your locality for cash. localbitcoins.com is a great site for this kind of deal.

[Daniel007]

When you were trying to open account on Bitstamp or Kraken, i hope you must notice that they do not allow any member under 18. So you try through your father ID and use his bank account for trading BTC.

[bitsmichel]

Hello all, I was wondering if I would get denied when I try to verify my account at Bitstamp or Kraken because I'm only 17. And what is the easiest way to buy BTC under 18?

Perhaps one of the Bitcoin ATMs could work out for you.  Another method is to try trading at a bitcoin conference.
Or buying goods with fiat and selling the goods for bitcoin.

[ShakyhandsBTCer]

Hello all, I was wondering if I would get denied when I try to verify my account at Bitstamp or Kraken because I'm only 17. And what is the easiest way to buy BTC under 18?

Localbitcoins is one option if there are sellers in your area but most of them charge at least 4-5% fees

If you're in the US, I'm pretty sure Coinbase does not even ask your age when you sign up for an account, just provide bank account info and verify, then buy BTC! 1% fee there.

You need to verify your identity with Coinbase and they will see that you are under 18. I am pretty sure that the TOS on coinbase say that you need to be at least 18.

Localbitcoins or a BTC ATM are the two best options.

[Gianluca95]

Hello all, I was wondering if I would get denied when I try to verify my account at Bitstamp or Kraken because I'm only 17. And what is the easiest way to buy BTC under 18?

Hi ! Try to make a deposit to www.btc-e.com.

SCAN of document is not required !

Good Trading bro

[mysidia]

Follow Franky1's advice.   Doing it anyway may allow you to get some BTC for the time being, but it will not end well.

That  OUGHT to be good enough;  the main consideration is that your bank allows you to transfer out the funds required...  once you have the BTC...  divide it up and stick it in offline wallets right away.  Once funds are in an offline wallet; they should be reasonably secure against any 'shenanigans'.

Do any trading to fiat  virtually on different exchanges  that are not linked to a bank account and that you didn't wire funds to;  expect to convert back to BTC before withdrawing.

Wait 1 year, until you are 18, before attempting to cash out any BTC back to real dollars.

[Ashbite]

Well personally i find it not a problem, but you know what goverments and police think about this.(maybe even company's)
There are really no conscequences though, your own choice.

[ShakyhandsBTCer]

Follow Franky1's advice.   Doing it anyway may allow you to get some BTC for the time being, but it will not end well.

That  OUGHT to be good enough;  the main consideration is that your bank allows you to transfer out the funds required...  once you have the BTC...  divide it up and stick it in offline wallets right away.  Once funds are in an offline wallet; they should be reasonably secure against any 'shenanigans'.

Do any trading to fiat  virtually on different exchanges  that are not linked to a bank account and that you didn't wire funds to;  expect to convert back to BTC before withdrawing.

Wait 1 year, until you are 18, before attempting to cash out any BTC back to real dollars.

Many banks will allow someone that is 16 or 17 to get a bank account if they have a job.

[ChuckStrawberry]

Can you use paper cash? If so, you can use Bitcoin too. No law says you can't.

[Sniar]

Can you use paper cash? If so, you can use Bitcoin too. No law says you can't.

It's the banks that are making troubles for Under 18 sometimes.

It's like you're not old enough to own a credit card.