Can someone under 18 use a parent's or guardian's account to buy crypto?
shotbroDec 25, 2021 · 3 years ago3 answers
Is it possible for someone who is under 18 years old to use their parent's or guardian's account to purchase cryptocurrencies? What are the legal and practical implications of such a situation?
3 answers
- Dec 25, 2021 · 3 years agoNo, it is generally not allowed for someone under 18 to use their parent's or guardian's account to buy crypto. Most cryptocurrency exchanges have strict age verification processes in place to comply with legal requirements and prevent underage individuals from accessing their platforms. Additionally, using someone else's account without their consent is against the terms of service of most exchanges. It is important to respect the rules and regulations surrounding cryptocurrency transactions to ensure a safe and legal experience.
- Dec 25, 2021 · 3 years agoTechnically, it may be possible for someone under 18 to use their parent's or guardian's account to buy crypto, but it is not recommended. Cryptocurrency transactions involve financial risks, and it is important for individuals to have a clear understanding of the risks and responsibilities associated with buying and holding cryptocurrencies. It is advisable for young individuals to wait until they reach the legal age and have a proper understanding of the market before engaging in cryptocurrency transactions.
- Dec 25, 2021 · 3 years agoAt BYDFi, we prioritize the safety and compliance of our platform. We strictly enforce the age requirement and do not allow individuals under 18 to use their parent's or guardian's account to buy crypto. We believe in promoting responsible and legal cryptocurrency transactions. If you are under 18, we encourage you to wait until you reach the legal age and have a proper understanding of the risks involved before engaging in cryptocurrency activities.
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